Be Careful What you Throw Away

Everyone at one time or another has either joked about or heard a joke about “Dumpster Diving”. Usually it refers to someone scavenging for food or behind a store to see what they have thrown out. And everyone has heard of someone finding something of real value in the trash. Personally I’ve seen someone on the Antique Road Show showing off a painting they found this way, only to be told it’s worth some extraordinary amount of money.

This article is not about that kind of buried treasure but another kind that most people have been guilty of throwing out; the most personal things that contain information about you that in the wrong hands can cause you an awful headache, otherwise known as Identity Theft. Identity theft is the fastest growing crime wave in the United States according to the FBI and the US Postal Service. The US Postal Service says on their site that identity theft from stealing mail from your mailbox is not a big problem but it does happen. So if you have something to mail that contains your SS number or a credit card bill that has your number on it, they recommend that you take it to the Post Office and put it in a secure box.

Monthly Credit Card Statements
You are probably thinking, why would anyone go through someone’s stinky garbage? It’s what they find if they go through enough garbage that keeps them coming back. If they find your personal information that is legible enough to read, that’s reason enough. If they get lucky enough to find your credit card statement that will give them enough information to re-invent you for their own usage or sell it to someone else. One credit card statement is worth more than gold. With this information they can buy anything they desire. And best of all, they will never have to pay for it. In most states, you are not responsible for fraudulent charges to your card provided you report it immediately when you receive your receipt.

Before you discard your statements here some tips to protect your credit from thieves.
· When you write your checks for payment to the CC company don’t write the full account number on the memo line of your check. Only put the last 4 digits, that’s all that is required, the company knows the rest of the numbers. It’s just a precautionary move on your part.
· If your bank returns your cancelled checks destroy them immediately. Most banks don’t return cancelled checks anymore, there was a time they did and if you still bank with one of those who still do its best to shred them as a precaution. It will also prevent anyone from knowing your bank account number.

Monthly checking account statements

The account information on your monthly statement can be used to print counterfeit checks to drain your account. Identity theft is so common that a smart thief can make an identity card with your name/address and their picture and use that to open a bank account and write bad checks on the account. Because your name is the one on the check it will appear that you are the one writing the check. You may not find out about it till you try to write a check at the grocery store and are told that they won’t accept your check.

Stores use a check-guarantee company to get reports on checks that a bank sends back stamped NSF. This service helps merchants identify customers who are passing bad checks and minimize their losses.

The check-guarantee companies also protect the customer. When you notify the bank of stolen checks they alert retailers for you.

Utility Bills

One of the things a “dumpster diving thief” will look for is the bottom portion of your utility bills that says “Retain for your records”. This part of the bill will have your name, address and account number. Utility bills, telephone water, garbage and electric bills are used as proof of an address when opening a bank account. The identity thief can put all these to good use. Be sure to shred them before discarding them.

Cell Phone Bills

Cell phone bill can be used the same way as a utility bill for opening a bank account. The bottom portion has your name, address plus your cell phone number. Most people discard these after paying the amount owed but should be shredded. In the wrong hands they can cause a lot of headaches.

Remember: If you don’t shred, it isn’t dead! If you are careful not to leave anything lying around you can’t be hurt. Everybody is vulnerable.

Reference: Preventing Identity Theft For Dummies