The important info on the documents you receive

You receive various documents every day. Some are sent by mail, some are handed to you, and others arrive by e-mail. Many of these documents contain information that is useful to an identity thief.
Awareness is your first line of defense against identity theft. Being organized and keeping track of the statements and reports you receive is important if you are to protect yourself against identity theft. Consider the following:

• Credit card statements: Your credit card statements have your name, the credit card company’s name and phone number, your address, account number, credit limit, and expiration date printed on it. Using just the information printed on the statement, an identity thief can purchase items online or on the phone. The thief can also request a change of address and have the bills come directly to them, although most banks confirm a change of address with a follow-up telephone call or letter. Your credit card statements list all your purchases and payments for the last month’s billing period. By checking your statements regularly, you can determine whether someone else is making charges on your card.
• Bank statements: Bank statements have the account numbers and balances, your name and address, and the name of your bank. If you receive direct deposit paychecks, some banks even print your SSN on your checking account statement. The checking account statement has information about your account activity and, if you choose, all the canceled checks that have been paid by the bank in your name are enclosed with the statement. Use your bank statement as a tool in detecting identity theft. Review the account monthly so that you know immediately if there are withdrawals you did not make.
• Paycheck stubs: Paycheck stubs for direct deposit have personal information on them, including your name, address, rate of pay, and your employer’s name. Some also have your SSN. Shred the stubs after you check your bank account statement to make sure that the right amount of the deposit has been recorded.
• Investment statements: Your 401K statements have a great deal of information, including your name, address, account number, balance, and the name of the company that is managing the account. IRA accounts may contain your SSN. If you have an account with a stockbroker, the quarterly statements have the same information as an IRA or 401K. You should keep the first statement after you opened the account, and then keep two to three years of current statements and shred the rest. The reason to keep the current year’s statement is to check that your money is not leaving the account without your approval or knowledge. Do not just throw your investment statements away — they contain too much personal information.
• Social Security statement: On an annual basis, we all receive an account statement from the Social Security Administration. This statement has your SSN as well as your DOB, address, and current balance with the projected amount you will receive if you work until you are 62 or 65. Because these are annual statements, you can keep more of them. They are not bulky, so you can keep all of them until retirement if you like, but keeping the most current twenty years’ worth is probably sufficient. At minimum, you should keep them to compare numbers year to year.
• Tax information (W-2s, interest accounts, 1099s, and so on): These are the most vulnerable tax documents, because they have the most information. They have your name, your address, your employer’s name and address, your pay for the year, and your SSN. Tax information is useful to identity thieves because the form has your and your spouse’s SSN, your home address, place of employment, pay rate, and so on — all of which can be used to assume your identity. Keep copies of your tax returns for at least five years in a locked file cabinet or safe. This helps minimize theft.

In addition to statements, most folks receive the following documents by mail:

• Pre-approved credit card offers
• Driver’s license renewal forms
• Utility bills
• Direct deposit pay check stubs
• Blank checks for your personal checking account

These documents have personal information, and they come in the mail — which is vulnerable.