It’s a non-stop topic in today’s news.  No, not COVID-19 but identity theft. Hacking is big business for thieves. Just go back and consider the result of two examples. At least 110 million consumers have been affected by the hack involving Target and Neiman Marcus retailers.

Millions more will have their identities manipulated and finances ruined within the coming months. Due to additional breaches of security at other stores is anyone’s guess. With the holiday season upon us, please be safe. Identity theft recovery expert Scott A. Merritt states,

“By necessity, I became an expert on identity theft. My information was stolen in 2006, and in repairing the damage, I learned some not-so-obvious ways we can all protect against identity theft in the first place,” says Merritt, CEO of Merritt & Associates (scottamerritt.com) and author of “Identity Theft Do’s and Don’ts.”

Merritt’s problems began quickly. For example, while disputing financial charges and dealing with resulting business problems, in 2007 he was stopped for a traffic violation.  As a result, he was arrested on a false outstanding felony warrant. He immediately knew why.

“I had to enlist my U.S. congressman and convince the state police, NCIC, FBI and Secret Service that I didn’t commit the felonies. For a few years, I had to prove that the prints did not match the false record in question. After legal action, however, I was able to have this corrected.”

Unfortunately, millions are affected by the recent hacks. As a result, they may be dealing with similar identity theft repercussions in the years ahead.

Before you become a victim of identity theft, Merritt offers seven ways to guard against it.

• Understand how and where it happens. Identity theft is like being robbed when you are away from home. Therefore most thefts occur in places where you do business every day. Either a place of business is robbed or a bad employee acts improperly. Also, a hacker may breach the office through a computer.

• Secure your wallet’s information. Photocopy everything in your wallet: photos, credit cards (front and back), membership cards – everything. Put the copies in the order the cards are arranged in your wallet. Next, staple the pictures and place them in a strong box or safe.

• Account for your interactions with vendors. Every time you speak to someone with whom you do business, do these steps. Write down the time, date, name and the purpose or outcome of the call. If an identity theft occurs on the vendor’s end, you will be able to reference these prior conversations effectively. Lastly, be sure to note any animosity or reluctance from the vendor.

• Protect your banking information. While in the bank, keep account numbers and other data out of sight. Also avoid stating account numbers, Social Security numbers and similar information out loud. For example, when planning a bank visit, have deposit and withdrawal slips prepared in advance.

• Make sure your information is consistent. For all of your identity and financial documents, make absolutely sure, to the smallest detail, that all of your personal information is accurate and consistent! Discrepancies such as using your middle initial on some documents, and not others. In addition, having different addresses, can wreck havoc in proving your identity, and can compromise your credit score.

• Secure your digital habits and data. Change your passwords at least twice a year on a non-scheduled basis – don’t be predictable. Have a strong firewall if you shop online. Plus, only access sites that are protected by a strong firewall and high industry standards. Access accounts of a financial nature only from your personal computer.

• Don’t carry around your birth certificate or Social Security card. Unless it’s necessary, keep those vital items in a safe, or at least a firebox. If you know someone is going to need a copy of your tax returns or your driver’s license, for example, make the copies ahead of time. This avoids the need for a firm’s employee to leave the room with such information.

Merritt concludes, “Of course, you can greatly reduce being a victim of such recent hacks that occurred at the major retailers by using cash more often,” he says. “But if you’re going to use credit, use a card from a national bank. Or consider a national credit union and never a debit card, no exceptions.”

The lessons to learn are be careful and pay attention. Don’t give the crooks easy access to your personal information. If you are effected, then immediately seek out help to minimize the damage.

The Life of Luxury can assist you. In addition to offering a wide variety of luxury concierge services, we work with the best firms in the financial industry. We are ready to help you.

Protecting your identity and credit should be a top priority for everyone. Identity thieves work hard to steal your personal information to commit fraud, so be careful and prepared to protect your security.

Recently big retailers have been hit by hackers including both Target and Neiman Marcus. At least 110 million consumers were affected by the hack and the numbers may rise as the investigations continue to unfold.

It’s important to prevent identity theft from occurring by managing your personal information carefully and staying one step ahead of the thieves. Take precautions and don’t become an identity theft victim!

CEO of Merritt Ventures, Inc, Scott A. Merritt has put together a list titled “7 Tips for Protecting Your Identity & Money.” Merritt knows first hand the troubles one must deal with because he was a victim of identity theft himself back in 2006.

Before you become an identity theft victim yourself, take the important steps now to prevent a financial disaster from happening down the road. Here are Merritt’s seven ways to guard against becoming an identity theft victim.

1) Secure your wallet’s information. Photocopy everything in your wallet: photos, credit cards (front and back), membership cards – everything. Put the copies in the order the cards are arranged in your wallet, staple the pictures and place them in a strong box or safe.

2) Understand how and where it happens. Identity theft is like being robbed when you are away from home; most thefts occur in places where you do business every day. Either a place of business is robbed, a bad employee acts improperly or a hacker breaches the office through the computer.

3) Protect your banking information. While in the bank, keep account numbers and other data out of sight, and avoid stating account numbers, Social Security numbers and similar information out loud. When planning a bank visit, have items such as deposits and withdrawal slips prepared in advance.

4) Account for your interactions with vendors. Every time you speak to someone with whom you do business, write down the time, date, name and the purpose or outcome of the call. If an identity theft occurs on the vendor’s end, you will be able to reference these prior conversations effectively. Be sure to note any animosity or reluctance from the vendor.

5) Secure your digital habits and data. Change your passwords at least twice a year on a non-scheduled basis – don’t be predictable. Have a strong firewall if you shop online, and only access sites that are protected by a strong firewall and high industry standards. Access accounts of a financial nature only from your personal computer.

6) Don’t carry around your birth certificate or Social Security card. Unless it’s necessary, keep those vital items in a safe, or at least a firebox. If you know someone is going to need a copy of your tax returns or your driver’s license, for example, make the copies ahead of time. This avoids the need for a firm’s employee to leave the room with such information.

7) Make sure your information is consistent. For all of your identity and financial documents, make absolutely sure, to the smallest detail, that all of your personal information is accurate and consistent! Discrepancies such as using your middle initial on some documents, and not others, or having different addresses, can wreck havoc in proving your identity, and can compromise your credit score.

If you feel you have become a hacking or identity theft victim, take immediate action. You can contact The Life of Luxury and we can help put you in touch with a professional who can help.

Summer is almost upon us and families are already planning or preparing their summer vacation. But just like you, identity thieves are also looking forward to this busy travel period.

It’s no secret, that identity thieves are constantly planning new ways to steal your personal information. Consumers often let their guards down on vacation, putting them at greater risk of identity theft.

Equifax is a global leader in consumer and commercial information solutions and wants to help everybody from being the unfortunate victim of identify theft.

Equifax would like to share the top 10 ways consumers can help protect themselves while traveling any time of the year:

1. Don’t announce your travel plans on social media. This invites identity thieves to target your house while you’re away.
2. Place a hold on your mail. When criminals see an overflowing mailbox, they see an easy way to steal personal information.
3. Go through your wallet and leave at home your library card and other cards with your name on them. Carry only necessities in your wallet when traveling. Tourist areas are hotspots for pickpockets.
4. Set up a travel alert on your credit card accounts, and freeze your credit with the three credit bureaus.
5. Leave your laptop computer at home if you can. If you must travel with a laptop, update your anti-virus and anti-spyware programs. Do not access bank accounts from your laptop while in a hotel room or at a coffee shop or other public location.
6. While staying at a hotel, lock important documents such as your passport in a safe.
7. Use only ATMs located in banks.
8. Protect your smartphone. Create a password for access, and use an application with a GPS locator to find your phone if it is lost or stolen.
9. Don’t put your full name and address on luggage tags. Include just your last name and phone number.
10. Tear up and discard used boarding passes. Many travelers leave boarding passes behind in airplanes or hotels. They often contain full names and other personal information.

In an effort to curb the growing problem of identity theft, be alert at all times and try to stay one step ahead of the crooks.

Trey Loughran is the president of the Personal Solutions unit at Equifax and was quoted, “By developing good identity protection habits at home and on the road, you can reduce your risk of becoming a victim.”

Remember the wise saying ……  an ounce of prevention is worth a pound of cure.  So be prepared and start dreaming about and planning your special vacation getaway!

If you need help making your summer travel plans, please contact The Life of Luxury using the below form: