How to protect yourself from identity fraud

Your identity is valuable. Identity thieves seek to steal your personal information.

Banks all over the world spend millions of pounds every year on preventing identity theft and you should also take steps to protect your personal information. This guide will provide simple precautions to prevent the identity fraud.

Prove you are who you say you are

Banks are bound by the law to ask for proof of identity when a customer asks to open an account with them. Also credit card companies must follow the same protocol.  Identity thieves attempt to use fraudulent documents to apply for credit. If they achieve this it could seriously damage the victims' credit rating or get "blacklisted".

Take care when disposing of important documents 

Make sure you have sensitive documents locked away in a safe place. Look over your bank statements very thoroughly to check for any transactions that look unusual.

Never put important documents in a bin i.e. statements, bills and receipts. Basically anything with your name, addresses, or account details. You should shred all sensitive documents before throwing them in the bin.

Be careful with sensitive information

The internet is a front for many fraudulent transactions. Be very wary when using social networking sites like facebook and myspace. Take simple steps to ensure your safety such as set your internet security to its highest level. Disable the option for the internet explorer to remember passwords. Always turn your computer off completely and be careful not to open email attachments from an address you do not recognise.

Keep track of your mail

You should check whether you are receiving your statements, bills and other important documents. If you feel your mail is not getting to you should contact the royal mail. Identity thieves could be directing your mail to another address. Also be careful if other people have access to your mail.

Be careful with your cards.  When making a purchase, keep your card in sight at all times.

 Wallet Doctor Tips

Be wary of delays in obtaining authorisation. If you think the assistant is abusing your card details do NOT tell the assistant of your concern. Instead contact the fraud department of your card issuer.

1. Check your statements for any unusual transactions 
2. Perhaps use a single card for certain purchases such as petrol and restaurants.
3. Make sure you always tell your credit card company before you travel abroad.

Theft of details by people at your previous address

When you move house you should inform all companies of your new address, as post from insurance companies, mobile phone companies and other personal documents may continue to be delivered to your old address. Also junk mail such as pre- approved offers for credit would be mailed to your old residence. Identity thieves respond to these offers.

The dangers of internet banking

If you currently use internet banking, be wary of emails that look like they are from your bank. If they are fake emails they will usually contain a link which will take you to a convincing copy of the banks website which has been purposely to acquire customers' usernames and passwords. People who are customers of Barclays, Citibank, Egg, Halifax, Lloyds TSB and NatWest have been targeted by identity thieves as they are some of the more major financial institutions.  Criminals prefer to target these banks as they have more customers and therefore are more likely to find customers using email.

According to the National Criminal Intelligence service (NCIS), the majority of people can't tell the difference between a real bank site and a fake one, which makes it even easier for criminals to obtain access to their accounts. This type of identity fraud is called "phising".

You should always bear in mind that no one that works in the financial industry will ring you and ask you for your account number and password.

Wallet Doctor Tips

1. DO NOT click on email links that connect you to your bank. Generally banks do not email their customers.
2. NEVER click on links contained in junk email.
3. Have more than one email address. Try using one for personal email, for friends and family.

Airport theft

Airport theft is very common as many criminals target travellers. They tend to be easily distracted and usually have all important documents with them like cards, passport and other documents. Thieves also use luggage labels to determine how long a person will be away for and thus identify properties that are going to be vacant.

Wallet Doctor Tips

1. Make sure you keep money and cards on your person separate from your travel documents and not in luggage.
2. Do not advertise your home address on luggage labels. Write your work address on the inside of your suitcase or simply write your mobile number down.

Giving away your personal details unintentionally

Be careful when people from competitions phone you up and ask for contact details or requests to be added to a free directory. Any information gained by the caller will be sold on to many companies.

Wallet Doctor Tips

1. If you are in any doubt then don't respond.
2. Subscribe to the mailing preference service because if you subscribe and still get approached you know that it is suspicious.

Falsified mail redirection

One of the easiest ways of finding out about your personal details is to intercept your mail using the Royal Mail's redirection service.  Even though there have been measures taken to reduce the risk it still remains a favourite of the identity theft criminals. Many people think that they would notice an absence of mail. However experienced criminals can identify items that are of no use to them and put them through your post box so that only a small number of letters are taken. If a thief gets lucky he may even get a credit card or a replacement driver's licence.

Wallet Doctor Tips

1. Ask your post office if you suspect that any mail is delayed.
2. If you receive a call from a lender about a credit card application that you have no prior knowledge of. You should inform them that this could be identity fraud.  Also find out from your post office if there has been a redirection noticed against your address.
3. Find out from your neighbours if they have been having similar problems as sometimes criminals take on several houses in the same street.