It’s the holiday shopping/scamming season. And that makes it a good time to think about protecting yourself from the dangers of identity theft. These days, the fraudsters are so sophisticated that even the most wary consumer can become a victim. So here are the most common scams – and some ways to protect yourself, your Social Security number, your bank accounts, and your property.

Freeze Your Credit. This is the easiest first step toward guarding your identity. Each of the three major credit bureaus allows you to instantly freeze your credit online, with no charge. Then no new credit can be opened in your name, and no loans can be taken out using your Social Security number.

You’ll be given a PIN or ID number to temporarily “unfreeze” your credit report – if you are about to make a home purchase or buy a car, or apply for a job where they need to check your credit. Your biggest challenge is remembering that PIN! Here are the links or go directly to the website:

Experian.com Freeze or Unfreeze Your Credit File for Free – Experian
Equifax.com https://www.equifax.com/personal/credit-report-services/credit-freeze/
Transunion.com TransUnion Credit Freeze

The freeze will stay in place until you lift it – either temporarily or permanently. And consider doing it for your children’s credit reports, as well, though that typically requires identity proof and cannot be done online. And, while you’re at these websites, check your credit report to make sure you recognize all the accounts listed.

Watch Your Credit Score. The most popular scoring models are the FICO score and the Advantage score, though each bureau may create its own credit score on these models. Get your credit score free from most banks. Or go to CreditKarma.com to sign up for your free credit score. You do not have to pay for a credit score.
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Your score changes by a few points every month, depending on whether the score was calculated just before – or after – you paid a credit card bill. Your goal is to keep your score above 750 – even if you aren’t planning any borrowings.

Freeze Your Phone SIM Card. The most sophisticated scam these days involves fraudsters stealing the information on your phone SIM card. They don’t have to steal your actual phone to get this information. Once they have those codes, they can hijack your texts onto their phone. The next step is to make a huge withdrawal from your bank account. When your bank texts you that 6-digit code, asking you to authorize the withdrawal, it goes to their phone! They insert the authorization and the money is moved instantly out of your account!

Banks do not consider this protected fraud – because they sent “you” an authorization code – and the code was used to make the transfer! And since you didn’t know your text messages were being hijacked, you don’t find out until too late – perhaps when you check your bank balance! Huge amounts have been lost and the banks do not reimburse.

Protect your SIM card by contacting your telephone provider directly – ATT, T-Mobile, etc. At each of their websites you can create a SIM protection code. Then anytime your phone is turned back on, you’ll have to enter that code. And before anyone can transfer the SIM to another phone, they’ll need that code.

Protect Your Home Title. If you have a mortgage on your home, your bank will have to authorize an additional borrowing. But if you own your home free and clear, as many seniors do, there is a scam going around where a fraudster uses personal information (stolen or found online) to impersonate the homeowner.

Then they use that information to create a fake deed or mortgage document, forging the owner’s signature. Then the fake document is filed with the county recorder’s office, making the fraudulent transfer seem legal. The next step is to take out a mortgage loan on the property, or even sell your property. It’s a scary thought – although the odds are long that it will happen to you.

Lately, you’ll see late-night TV commercials asking you to buy a costly “title-lock” program. Instead, there are some less expensive options to protect your title. You could take out a home equity line of credit at your bank, even though you’re not planning to withdraw money. That small fee guarantees the bank will be aware of any changes in your title.

Or contact your county recorder of deeds. Almost every county has a free title protection program that gives you the ability to monitor their records for property real estate activity. When an alert is triggered, an email will be sent to the email address provided in the alert.

You should make the effort to protect your credit in every way possible. Check your online bank accounts frequently, as well as your credit report and score. Call immediately about any discrepancies. File a police report and contact the FBI at 800-CALL-FBI if you suspect fraud. And if you catch it too late, look for help at the Identity Theft Resource Center (www.IDtheftcenter.org).

You can’t be too careful about your identity and your credit. And that’s The Savage Truth.