Though millions of consumers are switching over to online banking, many of our nation’s 78 million Boomers refuse to make the transition, preferring instead to use checks.
But according to Consumer Action, that same group of Boomers (about 15 percent of the U.S. population) also makes up about 30 percent of fraud victims. The American Bankers Association says check fraud is growing at a rate of 25 percent per year.
So what can you do, aside from using online banking, to protect yourself from becoming the next victim? According to identity theft expert and author Frank W. Abagnale, three simple moves can make a difference:
1. Don’t leave mail in your mailbox overnight or over the weekend. Thieves can easily grab your outgoing bills and other personal tidbits.
2. Use a gel pen when writing checks. This way, thieves can’t remove the ink from your check to change your information.
3. Shred or tear up any unwanted documents including personal information.
Photo by MSDesigns.
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