If you think the American consumer is hurting from the effects of identity theft, think for a second about what it’s doing to the other victims: American businesses. Javelin Research estimates that online retailers lost $21 billion in potential sales because identity theft victims are now afraid to shop online.
If you’re looking to keep your personal information safe, there are other things to do to protect yourself besides quitting your online shopping altogether. Here are just a few:
• Only shop at reputable, secure sites. Look for the lock icon in the navigation bar and an https in the site address when you get to the online order form.
• Never send credit card information over email. It is not a secure way to submit this information, especially if you’re using a non-corporate address.
• Read reviews of online businesses before you patronize them. Check and see if they have been approved by the Better Business Bureau.
• Check websites for VeriSign “badges†or notices of other reputable brands of security software.
If you’re not sure if a site is secure, always give yourself the benefit of the doubt, not the site. If your instincts tell you something is iffy, it’s best not to take a risk. If you just have to have something from a site that you think might be on the up and up but are not absolutely sure, don’t use your credit card number. Instead, get a temporary card number or use a prepaid debit card. Check your local grocery store, drug store or bank for the Visa and American Express varieties.
Keeping your information out of thieves’ hands is definitely not an impossible task, and it is not something that should interfere with your daily life, or shopping habits. If you’re exceedingly worried, check out identity theft protection plans. One can serve as a backup to protect you in case you make a onetime error in judgment and buy that electric toothbrush from joethetheif.com.
You can get an alert the first time Joe uses your card number to buy plane tickets for him and 50 of his closest friends and let your credit card company know to put some rain on Joe’s parade before he has a chance to get on that plane or order 50 more tickets for each of those friends’ children. These identity theft protection services are often very inexpensive yet can be invaluable, with some at just $10 a month. And there are so many plans to choose from that there’s sure to be one that’s just right for your family.
So remember, online shopping, good; online surrendering of information, bad. Learn to know the difference and you should be just fine, especially if you’ve got an identity protection company watching your back. Now all you have to do is stop spending thousands of dollars on eBay. That can get you into a lot of credit trouble too, but that is a whole different ball game.