Protecting Personally Identifiable Information

There a lots of attempts to steal people personally identifiable information (PII) and use it.   I have not subscribed to any protection services, even when it's provided for no charge due to a data breach. I feel that taking good precautions will be enough protection.  Here's what I do to protect information.

• Shred any papers that may have PII.  Bank statements, brokerage statement, pre qualification letters  with QR codes, 1099s, copies of tax returns,  W-2s and cancelled checks.
• Don't share SSN at doctor's or dentist's offices.   It is not required and you can choose to leave it blank.   In fact, you can decline sharing SSN for many applications.
• Do not send PII over e-mail.  It is not secure.
• Only use secure electronic systems to send personally identifiable information to appropriate organizations.
• Cut up expired credit cars and membership cards.
• Do not give information over the phone to unknown callers that claim to be bank, credit card, IRS, Social Security or Medicare representatives.  Call back a confirmed number, from internet or mail, to verify unknown callers.
• Check credit card statements and bank statements for unknown activities.
• Periodically, check information at credit bureaus.

Finally, I usually am on the side of being cautious rather than assume the situation is safe.  Better to not give out or shred the information than have it obtained by unscrupulous people.

For more on The Practice of Personal Finance , check back every Wednesday  for a new segment.

This is not financial advice. Please consult a professional advisor.

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