Identity thieves will be parading undercover through crowded malls, community events and parking lots over the holiday weekend, next week and into the New Year. Identity theft gets personal during the holidays when unaware consumers are in a festive and giving mood. They are looking for the gift that keeps on giving, your identity!
For the next week or so, Grinches will be disguised as holiday shoppers—singles, couples and some may be seen dragging the kids along to take advantage of every opportunity to snatch an unsuspecting consumer’s wallet or purse containing a Social Security card, a driver’s license, a debit card, a stack of credit cards and maybe a bonus checkbook.
Many consumers think of identity theft as a crime that occurs through a computer or smart phone or when their financial institution or a retailer fails to protect their credit card or other account information. Over holiday weekends, a fair portion of identity theft occurs the old fashioned way, when purse-snatchers and pickpockets use the personal information that many consumers carry around with them in their wallet and purse.
While some thieves use brute force to rip a purse out of the hands of a woman in a parking lot or simply lift an unattended purse in a shopping cart or vehicle, others use means that are more deceptive. Thieves need time to use your credit cards and checks before you report them lost or stolen. If they can grab a purse or wallet from an unsuspecting consumer, they can use the credit cards before the consumer realizes their possessions are missing.
While consumers should protect themselves against Internet based identity theft, they also need to be aware of their vulnerability in crowds and while shopping.
Children or a second adult are sometimes used as a diversion or distraction while your wallet or purse is taken by the adult thief. You may help a lost child or an adult that has fallen down and realize 20 minutes later that your wallet or purse is missing. That is sufficient time for a thief to rack up a couple of multi-hundred dollar credit card charges or even worse, charges to bank account.
Ladies should keep the purse strap over their head and never not leave a purse unattended even for a split second. When you are at the grocery store this weekend, count the number of purses alone in a shopping cart! Men should carry their wallet in their front pocket.
Before you leave home with your wallet or purse, purge it of any identification that contains a Social Security number and remove all but one credit card. Never carry your Social Security card or Medicare Card. Debit cards (and especially checkbooks) are more risky to carry than credit cards because unauthorized charges by a thief come directly out of your bank account unlike credit cards. Ask yourself this question, "if your bank account was wiped out over the weekend by a thief, would you be able to survive with no funds for the next 30 days while the bank conducted a fraud investigation?" (The bank may or may not refund you for your lost, but not until they conduct a lengthly fruad investigation.)
Pickpockets and purse-snatchers are not the only crooks to worry about. Social engineering scams aim to take advantage of a consumer’s holiday cheer and greater vulnerability in a season of joy and giving. Beware of scams involving person-to-person contact, mail, email, or the telephone where the fraudster requests your personal information such as a password, account number or Social Security number. It is best to never provide information unless you initiate the transaction.
Crooks using social engineering to swindle you may pose as trusted organizations such as charitable organizations, banks and the Social Security Administration or they pose as trusted professionals such as law enforcement officers, doctors and lawyers to con you into giving out your own or another’s personal information.
Happy holidays and keep safe out there!
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