Guarding Our Resources

[Seriousseeker]

This seems important for us all to keep in mind.

- Seriousseeker

GUARDING  OUR  RESOURCES
Some Thoughts For Saints Of God About Protecting Our Finances

[An officer from the Fraud Division of the local police department recently gave a talk to a group on some things to be careful about.  It seems important to consider these things in this day in which we live, so this is shared with our Christian friends.   - notes recorded here by R. DeWitt, 4/06.]

1.   Credit reports should be checked periodically, and in the USA can be checked free once a year at each of three government approved web sites (see www.annualcreditreport.com).  This gives one the opportunity to get three reports in a year from different sites.

2.   Identity theft is a growing problem, and includes opening accounts, but mainly involves stealing credit cards and checks.  One might consider that credit cards offer you more recourse than debit cards, for with debit cards the money may be withdrawn from your account immediately.

3.   Stolen wallets account for much loss.  Do not carry SSA cards and Medicare cards, and one should only have one or two credit cards.  The greater the number, the greater is the risk.   Passports are like gold and should be kept in a safe deposit box until needed for a trip (even expired ones).  

4.   Our finances are only as secure as the weakest link.  Don't be careless with any financial documents, or make hasty and foolish judgments; don't be greedy and trying to get something for nothing; and don't be overly suspicious of everything, but surely beware of calls you did not initiate, and do not give out identity information.  If there is a problem, close the account---don't just stop activity.

5.   Pin numbers are important protection.  Use more than four numbers---five is good, and six is better.

6.   Pay Pal on the web is not safe---avoid it.  Make sure the site one is dealing with in payments is secure---look for the little padlock in lower right corner.

7.   Stealing information is often done through the mail, "dumpster diving", computers, and cell phones; and some crooks follow postal workers and rob boxes.  Guard against information theft on the computer by having a firewall.  They can be obtained free and will help block intruders.  Don't respond to requests from legitimate looking mail requesting your identity.  Don't give out identity information over the phone, e-mail, etc., such as SSA numbers, bank numbers, driver license number, birthdates, etc.

8.   Sign the back of credit cards, or Visa and Master Card will not cover losses.  Try to watch what is done with cards when given to a clerk, but this is not always possible in restaurants.  Truly, one cannot prevent every kind of theft, but should be cautious.

9.   Identifying information should not be put on checks (such as driver license or phone number or address); let the clerk ask for it if they want it.  Look to see if anyone else is listening.  Sadly, stores don't update information once it is approved and in their computer, and they then fail to request I.D.

10. Shred all identity documents---especially old checks, unsolicitated credit cards, and convenience checks from bank already made out for your use (and contact bank to opt out on their sending them).  These convenience checks are a "time bomb" of trouble.

11. Pre-approved credit cards in the mail is dangerous, and one can call 1-888.5optout and ask that pre-approved cards not be sent out (which may help some).

12. Don't put any outbound mail in residential mail box---only in secure Postal Service mail drop boxes.

13. Make sure you have a record of all accounts for reference, including company phone numbers.

14. Always check billing statements received.

15. If victimized, notify law enforcement, credit bureaus, and your card companies without delay;  and notifying Federal Trade Commission on web site might be helpful (www.consumer.gov/idtheft).

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