(ARA) – Whether you’re buying for yourself or someone else, you are putting your hard-earned money to good use. Unfortunately, there are also people out there with bad intentions, preying on shoppers every day.
Whether you’re shopping in a mall or online, it’s important to take a few steps to make sure your money ends up in the right hands and someone else isn’t using your identity for their financial gain.
According to a 2010 identity fraud survey report from Javelin Inc., each year Americans lose $54 billion to identity fraud. With banks only catching 35 percent of fraudulent activity, taking the following theft and fraud prevention precautions will help you avoid becoming a victim:
* Keep your bags close – It’s easy to load up on bags from each store you visit to the point where you become a target because it’s hard for you to keep track of it all. If you find yourself in this situation, find a safe place to store your items, or make the extra trip to your car to place them in your trunk and out of view.
* Keep your money and credit cards closer – While that purse might be the perfect complement to your wardrobe as you cruise through the mall in style, it could also be a target for thieves. Men: It might be easier than you realize to swipe that wallet from your back pocket. If possible, keep cash and credit cards in your front pocket or any place that would be tough for thieves to reach without you noticing.
* Less is more – The less personal information you carry with you the better, just in case you drop anything or your wallet is stolen. Carry minimal amounts of cash and never carry documents with you containing your social security number.
* Use only reputable websites when shopping online – When paying online, make sure the website is preceded by the letters “https,” as this coding inscription ensures your data cannot be shared throughout the web.
* Consider an advanced fraud protection service – With so much data changing hands these days during financial transactions, anyone can be a victim of identity theft. You can take the first step in protecting yourself by signing up for fraud protection services, like those offered by Pinpoint, which will alert you instantly of suspicious activity involving your credit/debit cards and bank accounts. Pinpoint’s system uses fraud detection algorithms and compares your credit and/or debit card transactions to your cell phone location, alerting you of suspicious purchases. For more information on how these systems work, visit www.pinpoint-fraud.com.
By taking measures to protect yourself and your identity, you can ensure that shopping will remain fun and carefree, like it ought to be.