12 Ways to Protect Your Identity on Cyber Monday

Identity theft is on the rise during holiday season. Whether shopping online or at the mall, keep your guard up. The Insurance Information Institute (III) states that over 72% of US online consumers say they will shop online for holiday gifts this season. 43% of identity theft cases are in fact the result of a lost or stolen wallet, checkbook, credit card or other physical document. Identity thieves take personal information and use it to impersonate a victim, stealing from bank accounts, establishing phony insurance policies, opening unauthorized credit cards or obtaining unauthorized bank loans. In more elaborate schemes, criminals use the stolen personal information to get a job, rent a home or take out a mortgage in the victim’s name.

The most common form of identity theft is a stolen credit card number, but some schemes use electronic means, including online scams like “phishing” – when emails from cyber criminals disguised as financial or other online organizations asking for sensitive account information. Other criminals might use more old-fashioned methods, such as “dumpster diving”, where they look through people’s garbage to collect financial information.

For quicker, more efficient transactions, many credit card companies are now using radio-frequency identification (RFID) chips in their credit cards instead of magnetic stripes. However, RFID may make it possible for criminals to use a simple electronic device to capture the information without you even knowing it, right in your presence.

Victims of identity theft are often left with lower credit scores and spend months or even years getting credit records corrected. They frequently have difficulty getting credit, obtaining loans and even finding employment. Victims of identity theft fraud often travel a long and frustrating road to recovery.

Cyber Monday Tips for Online Shopping

  • Shop online at home and make sure your home wireless network is protected.
  • Don’t click on the links in the fake emails! Be aware of phishing and other online scams. In these scams, criminals use fake emails and websites to impersonate legitimate organizations. Be cautious when opening emails and instant messages from unknown sources and never give out your personal or financial information via email.
  • Set strong passwords and change them often. Use passwords that contain a combination of letters, numbers and symbols. Don’t set passwords that will be easy for cyber criminals to guess.
  • Too good to be true? It probably is. Shop online through trusted retailers to avoid getting scammed. Before submitting personal or financial information through a website, check for the locked padlock image on your browser’s status bar or look for “https://” rather than “http://” in your browser window. If you have any concerns about the authenticity of a website, contact the owner of the site to confirm the URL.
  • Make sure you have a firewall, anti-spyware and anti-virus programs installed on your computer. These programs should always be up to date.
  • Consider contacting the fraud department of all three credit reporting agencies (Equifax, Transunion and Experian) to place a fraud alert on your credit report. The fraud alert tells creditors to contact you before opening any new accounts or making any changes to your existing accounts. This will make it more difficult for identity thieves to open accounts in your name.
  • Consider freezing your credit on all three credit reporting agencies. This is a step further than a fraud alert. A credit freeze could prevent someone from opening a credit account in your name until the freeze has been “thawed”. You can unfreeze it temporarily or permanently if you need access to your credit for a loan application.

Cyber Monday Tips for Shopping at the Mall

  • Monitor the activity on your accounts. Don’t rely on your credit card company or bank to alert you of suspicious activity. Carefully monitor your bank and credit card statements to make sure all transactions are accurate.
  • Shred, shred, shred. Tear or shred any documents that have personal information such as credit card numbers, bank statements, charge receipts or credit card applications before disposing of them.
  • Keep the amount of personal information in your purse or wallet to the bare minimum. Avoid carrying additional credit cards, your social security card, check book or passport unless absolutely necessary.
  • Guard your credit card when making purchases. Shield your hand when using ATM machines or making long distance phone calls with phone cards. Don’t fall prey to “shoulder surfers” who may be nearby. Always check who is around you – identity thieves have been known to copy credit card information or even take pictures of cards on their cellphone cameras.
  • Always take your credit card or ATM receipts. Don’t throw your receipts into public trash containers or leave them on the counter.

If you are a victim of an identity and/or cyber crime:

  • Report the crime to the credit card company immediately.
  • Report the crime to the police immediately. Ask for a copy of the police report.
  • Report the crime to the Federal Trade Commission (FTC) online or at 877-IDTHEFT.
  • Report the crime to your homeowners or renters insurance carrier if your policy has coverage.

Fraud, Scams and Computer Security Awareness

International Fraud Awareness Week is observed each year on the third week of November. International Fraud Awareness Week helps educate potential victims how to protect themselves from frauds and scams.

National Computer Security Day is observed each year on November 30th. National Computer Security Day was founded to educate potential victims how to protect potential victims from cyber crimes.

An ounce of prevention is worth a pound of cure. However, if you are a victim of identity theft, identity theft coverage can help protect you from financial ruin. Some homeowners and renters insurance policies provide a nominal coverage for theft of money or credit cards. Identity theft coverage can be added to your policy, which can help victims of identity theft cover the expenses of restoring their identities and repairing credit reports. Review your insurance policy to learn about your coverages and limits.

How can I buy identity theft coverage in Oklahoma?

There are two easy ways to get a quote or request more information for identity theft coverage in Oklahoma:

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