Internet Basics: Protecting Your Identity Online

The use of the Internet has created new ways of conducting business, shopping, and even banking. From a home computer, bank clients can now manage their accounts, track investments, and access their finances 24/7. But with these opportunities come new challenges as well. Personal Identification Numbers (PINs) and other sensitive information in the wrong hands of any would-be ID thief can provide access to someone's personal information, bank accounts, and or the ability to establish new loans or credit in another's name. Therefore, it is vital computer users protect their identities online and in the real world.

Network security is constantly evolving and creating stronger barriers against hackers, making operations such as online banking safer than ever. However, it's imperative that personal information be monitored and protected by its immediate owner. Following are some ways to do just that:

One of the most effective ways to prevent identity theft is to shred bills and credit card statements. "Dumpster diving," or acquiring information by going through trash has been an effective way for thieves to steal an identity by rifling through bills, statements, and even junk mail. Personal shredders have proven effective in destroying material that contains personal information before it ends in the trash. A name, account number or other miscellaneous piece of information is sometimes all it takes for a thief to access someone's money or credit.

It's also important to stay vigilant in reviewing any and all statements. Doing so has two benefits. First, those who regularly check their statements are more aware if one does not arrive each month - an indication of possible ID theft. Secondly, looking over statements helps the account holder ensure the entries are legitimate.

Now, more than ever, protecting your Social Security Number is essential. If a thief has personal information such as a social security number and name, he or she can assume a person's identity. Individuals should never give out their social security numbers over the phone, by email or on a Web site.

More and more people are turning to online banking so it's necessary to review a bank's online privacy policy to ensure it is a secure or encrypted Web site. Only do business with established banks who take security as seriously as you do.

For those who may be using a public or work computer to conduct any personal online banking, be on guard for the shoulder surfer - the guy who casually looks over someone's shoulder as he or she enters a PIN or credit card number. This also applies to ATMs to withdraw cash or anytime you import personal information. Always be aware of those around you and their ability to see what keys are being pressed.

Creating Secure PINs

Another level of security involves creating PINs that cannot be easily picked up by someone trying to steal an identity. These security features are a part of nearly everyone's life today. As we bank, pay bills, and order products online, consumers are required to use PINs to complete transactions.

The very worst thing to do is write a PIN on or near a credit or debit card. Ironically, we often include this sensitive information on the very thing it is meant to protect. A lost or stolen card gives the holder a free pass to your account. Consider these effective tips when creating a secure PIN:

1. Mix it up. Experts suggest using multiple PINs and passwords for various accounts. However, this can be a challenge for some, so when faced with the choice of writing a PIN down or using the same one for multiple accounts, it's a better idea to use the same numbers several times. Just keep in mind that this could give a thief access to several accounts.
2. Make it memorable. Adopting a system of memorable PINs can be an effective approach. One method is to create a password using a word. For instance, choose a word for your PIN and simply apply the appropriate numbers to the letter using a phone pad. The date method uses a significant date to create and recall a PIN, such as an anniversary or other special occasion. A user could derive a code of 4142 for a birthdate of April 14, 1972.
3. Choose a random PIN by adding numbers to an early remembered number. For example, a user could add 1 to each number of the base PIN. By starting with "6789" and adding 1, the PIN would become "7890."
4. The miracle of numerals offers endless combinations of numbers. Creating a PIN that is longer than four digits offers more secure combinations than a shorter sequence of numbers.

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