Tips for Preventing Identity Theft

In today's London Free Press, there is an article on a situation happening in Stratford, Ontario where over sixty people to date have been impacted by a scam targeting their bank accounts in the amount of $30,000. How can this happen to them and to you and I? They were probably redrawing money from what they thought was a reputable ATM machine and low and behold, there was either a device inserted into the ATM machine to read the debit card information or a camera was located close to the ATM machine to read the PIN as it was keyed in.
First of all, in this situation, the Canadian Bankers Association says no one will be out of pocket because the banks will refund their accounts.
Debit card scams are becoming increasingly prevalent and there are some tips you can do to protect your own information.
When you withdraw money from a ATM machine, make sure it is reputable. Best Scenario is a bank.
Next is shield your hand when you are entering your PIN.
Don't give your PIN out to anyone. Let alone put it on a sticky note to remind yourself what it is!
Figure out a PIN that can not be easily guessed if your card is lost or stolen.
Change your PIN regularly.
Credit card scams are more prevalent than debit card scams at this point in time.
Never let your credit card out of your sight.
Have two credit cards. One for your regular purchases and one for occassional purchases. The occassional purchases should have a low limit and can be used for ordering on line or over the phone. Purchases where you do not have the same opportunity to keep your card always in your sight.
Change your credit card numbers after a reasonable length of time. Cancel old numbers and set up new ones. This can be a pain when you have autowithdrawals and need to contact each of these accounts with the change, however it is well worth it.
Don't give your number out to anyone unless you know the source or it is a protected and secure website.
Think about all of your credit cards and personal information like your SIN, drivers license, passport, birth certificate, etc and what would happen if lost or stolen. How do you start the replacement process?
When you get a minute, take scanned copies of all of your personal information just in case. You never know when you may need it.
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