Identity Theft Tips from The USAA Educational Foundation

With one unfortunate incident, 26.5 million U.S. veterans had their personal information compromised, and it could just as easily happen to anyone of us.

The USAA Educational Foundation (www.usaaedfoundation.org) offers the tips below to help military members protect themselves from identity theft and detect if they’ve been a victim:

Ten Tips to Prevent ID Theft

Nothing you can do will guarantee protection against identity theft in all circumstances. However, you can minimize your risk by managing personal information with care and caution.

• Memorize your Social Security number. Never carry your Social Security card in your wallet or purse.

• Store your wallet or purse in a secure location while at work or public places such as fitness centers.

• Buy a cross-cut shredder. Use it as a secure means of disposal for documents with personal or financial information — such as unsolicited credit card applications, credit receipts or utility bills.

• Memorize your PINs. Do not write them down unless you must. Never keep them with their cards, and do not share them with anyone. If possible, do not use the same PIN for multiple cards or services.

• Do not provide personal information over the phone, e-mail or Internet unless the recipient is a known and trusted source.

• Make sure the Web site uses encryption technology to safeguard your information. Most Web sites provide some acknowledgement that they are using encryption to transfer financial information. This acknowledgement may appear as a yellow padlock symbol in the status bar of your browser or a pop-up window indicating an encrypted or secured site.

• Call the credit reporting agencies at (888) 5OPTOUT or (888) 567-8688 to remove your name from all mailing lists the agencies supply to direct marketers.

• Deposit checks directly to your bank account. Do not mail checks from your home mailbox if it is unsecured.

• Do not have unnecessary personal information, such as social security or driver’s license numbers, printed on personal checks.

• Do business with responsible companies that take steps to protect their customers from identity theft.

How to Detect ID Theft

If you are a victim of identity theft, you can minimize damage to your name, finances, and credit history by detecting it early. To do so, you should begin taking the following steps immediately.

Monitor financial statements: Carefully monitor every statement from your bank, credit card company, and other financial institutions. Review transactions carefully for unexplained charges or withdrawals, and dispute anything that looks suspicious. This is the most common way victims discover misuse of their identity.

Review your credit report: Order your credit report from any of the three credit reporting agencies at least once each year, and review it carefully. Make sure all personal information is correct, such as names, addresses, and phone numbers. Make sure all listed accounts are yours. Check inquiries on your report to see if they look suspicious or seem excessive.

Examine your mail: Scrutinize your mail for signs of identity theft. Have you received credit cards for which you did not apply? Are bills or bank account statements missing? Have you failed to receive new credit cards as expected when current cards are about to expire? Have you received letters from debt collectors or businesses about merchandise or services you did not purchase?

If any of these situations arise, follow up quickly with creditors. An identity thief may be tampering with your accounts.

The USAA Educational Foundation, a nonprofit organization, does not endorse or promote any commercial product, service, or supplier.