How to Prevent Identity Theft

Video Transcript

"This is financial advisor, Patrick Munro, talking about how to prevent identity theft. Identity theft is a growing problem in America, and there's ways to prevent that. It can really ruin your financial future if someone does steal your identity. They can take your social security number and go out and get credit cards, and run those credit cards up, and then you, de facto, are responsible for that behavior. The way to prevent that is to make sure that your paper records are shredded. Make sure you buy a shredder at your home and use it. If you're a businessperson have one at your business. Make sure that you receive any dollars that are coming to you by electronic funds transfer so that there are no loose checks lying around. Make sure that you carry your credit cards in an RFID safe wallet. There are scanning devices now where an individual can walk by you and wave a wand near your the back where you carry your wallet, and capture all credit card numbers and relevant data for future use. Thieves are becoming very, very effective at that. And of course, behave yourself online, and make sure you use the effective firewalls. This is Patrick Munro, financial advisor, with some tips on how to prevent identity theft."