January means more opportunities for ID theft

December 28, 2010 – 1:29 pm

According to the experts, there are certain times of the year when identity theft is more prevalent. For example, scam artists target children during the back to school season.

But when it comes to adults, January is the time to be more wary. But why January? This is the time of year when employers and banks send out all of their end of the year documents, including your W-2s, 1099s and brokerage statements. All of these items contain your most personal and precious information, and they can sit unguarded in your mailbox. All a thief has to do is simply grab a handful of letters while you’re at work and your identity will be compromised.

This particular method of identity theft caches a lot of consumers off guard because most people think of high tech methods when it comes to this type of crime. When most consumers think identity theft, they think phishing scams or data breaches. But the reality is that so much of the damage is done in a very low tech way. Many fraudsters still favor old-fashioned scams like shoulder surfing, dumpster diving and grabbing the mail right out of your mailbox.

To prevent your mail from being grabbed, write down every piece of information-rich mail you anticipate receiving during the month of January, and mark it off when it arrives. This will help you keep track of what you receive and which documents never reach you. You may wish to consider electronic delivery, and have as many official end of the year documents delivered to your e-mail address.

Make sure you check your mailbox daily. The worst thing you can do is let important documents sit in an unlocked mailbox overnight. If you’re planning on going on a trip, have a trusted neighbor retrieve your mail daily, or ask the post office to hold it.

By February or early March, you’ll want to get your annual credit report and check it to make sure there is no unauthorized activity or new accounts opened in your name. This is particularly important if you didn’t receive all of your end of the year documents and had to ask for duplicates.

Be diligent and make sure you take note of any and all unauthorized activity, reporting it as soon as possible to your bank or credit card issuer. You should also consider using a locked mailbox or renting a post office box.

Taking a few extra steps could mean the difference between becoming a victim and keeping your private information just that – private.

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