Scams, fraud and thievery can be too easy for criminals when no
one is paying attention to what’s in their wallet. A few
hints may help make it harder for villains to pilfer the hard earned
money and identity of others.
Order checks with initials instead of using first names. A crook
that takes the checkbook won’t know to sign a name but the bank
knows how their depositors sign checks.
When writing checks to pay on credit card accounts, DO NOT put the
complete account number on the "For" line. Instead,
just put the last four numbers. The credit card company knows
the rest of the number and anyone who might be handling the check
as it passes through check processing channels won't have access to
it.
Put a work phone number on checks instead of a home phone. When
possible, use a P.O. Box instead of a home address. Never have
Social Security numbers printed on checks. It can be handwritten
in if necessary, but if it’s printed, anyone has access..
Place wallet contents on a photocopy machine, and copy both sides
of each license, credit card, and critical piece of paper. In
case of loss, the record of what was in the wallet, all account numbers
and phone numbers are immediately available. Keep the photocopy
in a safe place.
With a simple wallet theft, thieves could order an expensive monthly
cell phone package, apply for a VISA credit card, have a credit line
approved for purchases, receive a PIN number from the DMV to change
driving record information online, purchase plane tickets to Europe
and more.
To limit damage in the event of theft, credit cards should be cancelled
immediately. However, the key is having the toll free numbers
and card numbers to alert the companies involved. Keep the numbers
handy.
Theft victims should file a police report immediately in the jurisdiction
where the wallet or purse was stolen. It proves diligence to credit
providers and is a first step toward an investigation, if there is
one.
Perhaps most importantly, victims should call the three national
credit-reporting organizations immediately to place a fraud alert
on their name and Social Security number. The alert means any
company that checks credit knows the person’s information was
stolen and they must be contacted by phone to authorize new credit. Banks
and other lenders will have to confirm any new application for credit
made over the Internet, by phone or in person. It stops thieves
in their tracks.
The numbers the credit reporting organizations are: Equifax: 1-800-525-6285,
Experian: 1-888-397-3742 and Trans Union: 1-800-680-7289. The
Social Security Administration fraud line is 1-800-269-0271. Keep
these numbers with credit card information for a quick response in
case of loss.
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