Red Flag 3

 

One of the biggest sources of non-public personal information is personal papers that are improperly disposed of in the trash.  Thieves “Dumpster Dive” for your information.

 

What are they looking for in the trash? Any document that has non-personal public information.  This information includes your Social Security Number, birthdate, accounts and account numbers, credit  and consumer reports, medical records, military records, cancelled checks, and check stubs, tax returns, contracts, utility bills, etc.

 

A easy way to become a victim of financial fraud is to dispose “pre-approved credit card offers” in the trash without completely destroying them. A thief take the pre-approved offer, cross out your address, and write in the address where they would like to receive the brand new pre-approved credit card. 

 

Also check magazines and letters for personal information on the mailing labels. Recently mistakes have been make where account and social security numbers are printed on labels.  Check catalogs for preprinted inserts containing you account information.

 

What do we mean by proper disposal?  Shred, burn or pulverize!  A strip cut shredder MUST NOT be used, because the strips can be taped back together.  There is a report of one major national bank that processed a credit card offer that was shredded, taped together, and altered!  Use a cross-cut or diamond-cut shredder.  Personal shredders like these are available for $25-$50, and by using them regularly, you might save thousands in time and expenses.

 

If you have a lot of materials to be disposed of, you can have a disposal company pick up the materials or you can drop them off.  The reputable ones will provide you with an official certificate saying they properly disposed of the materials, which can include electronic media such as disk drives, CDs, magnetic tapes, etc.

 

ALL businesses and employers, including certain individuals, are required secure and to properly dispose of consumer information under the law and are subject to penalties and fines if they do not comply.