Nextwave Finance

Identity Theft Where You Least Expect It

March 17th, 2008 | by rachel |

It’s no suprise that identity theft is a growing problem that causes billions of dollars of financial losses each year.  By now, most of us are aware of “phishing” schemes and credit card “skimmers” and the common methods used by identity thieves.  Unfortunately, identity thieves are working faster than most consumers, financial industries and retailers.  Consequently, personal information is being stolen from places that wouldn’t seem to have much to offer.  Would you think to protect information here?

• medical records and/or devices - Some advances in technology are making implanted pacemakers and defibrillators less invasive by using wireless technology.  New reports indicate that personal and medical information contained in the memory chips in those devices could be “hacked”.  Likewise, “medical identity theft” is a growing problem that could have devasting, potentially life-threatening effects.
• tax returns and refunds - With personal information, an identity thief can file fraudulent tax returns and/or apply for “refund anticipation loans” in another taxpayer’s name.  Income reported will, in effect, be charged to the actual taxpayer and they can be responsible for additional taxes as well as having trouble when it appears they are attempting to file multiple returns.
• “registration” forms - How many school, church and community registration forms do you fill out during the course of a year?  When completing any form, make sure it requests ONLY the information that is needed for the activity you are registering for.  Generally, Social Security numbers are not needed to register for sports teams, scouting organizations or health clubs.  If the registration form asks for that, find out why it’s needed before giving it out.
• non-residential garbage - Recent reports of personal information being discarded in very public places are disturbing.  Allegedly, financial records have been recovered in grocery store dumpsters and open garbage bags.  Just because you are careful with the garbage you throw out at home doesn’t mean other people are being careful with your information when they decide to get rid of it.
• employers -When you think about it, your employer knows a lot of information about you that could be dangerous in the hands of the wrong person.  It’s certainly not unreasonable to ask HOW your employer secures your information.  Also, it’s OK to ask why certain information might be needed.  If you have any reason to doubt your information is being protected, don’t be afraid ask questions until you are comfortable with where and how your information is being used.  If and when you leave an employer, find out what happens to your information!
• children - Kids on the playground are prime conduits for identity thieves.  Hard to believe?  Maybe.  True? Absolutely.  All children with Social Security numbers are great targets.  The names and numbers are official and the crime can go undetected for years before anyone suspects they have been victimized.   Now, more than ever, it’s important to protect your children’s personal information as much as you would your own.

There is a fine line between protecting personal information and paranoia that someone is constantly trying to steal your identity.  Do your best not to go overboard but don’t neglect the places where you don’t expect there to be a problem either.  The last place you expect might very well be the first place an identity thief finds you!