Protecting Yourself From Identity Theft While Shopping Online

identity theft protection

We take the internet for granted.  It’s true.  We rarely think twice about giving our credit card and personal information online to make purchases and buy services.  But this complacency is quickly thwarted when identity theft occurs.  Learning how to protect yourself when shopping online requires a combination of Internet know-how, common sense and practical wisdom. Now that we conduct so much business online, it is necessary for us to exercise a little practical wisdom in order to avoid becoming a victim of identity theft. One area that we need to build up our identity fraud protection is when we are shopping online. There are many advantages to taking care of our online shopping needs as opposed to visiting our neighborhood stores but there are also risks, too. Here are some practical advice that can help you to keep a watchful eye out for those unscrupulous scammers that are trying to get more from your purchase than you may have bargained for.

Secure Payment Agents

In order for you, the consumer, to be able to control the use of your sensitive information, the site you use must utilize a Secure Payment Agent (SPA). The SPA provides the ability to convert your personal information into encrypted data that would become useless after your transaction has been completed. This way, a hacker is unable to trace the information back to you. This type of identity fraud protection will encrypt your financial information, protect against phishing schemes, verify you and your device before allowing you to proceed, and allows the merchants to be able to send purchasing and shipping confirmations whenever needed.

Electronic Signatures

You can also make sure of the electronic signature feature when you want to verify your online purchases but you need to know the laws that govern this type of transaction before you proceed. Often this is nothing more than clicking on a particular box that says you have accepted the terms listed. Most people are in a hurry and often click the box without reading the law associated with it and discover too late that their online purchases come with an extra hassle. Transactions confirmed by an E-signature lack the necessary safeguards that can protect you against identity theft. If you’re concerned about identity fraud protection avoid using the E-signature method until you’ve read and understood the law fully.

Use Single Use Cards

If you’re really concerned about adequate identity fraud protection you can use a single-use card. Some major banks like Citibank or Bank of America offer these one-time-use-only cards to make online purchases. They are issued with a randomly generated account number in place of your real account number. This way you never have to give out your actual credit card number or use your real card to make a purchase. Once a transaction has been made, the card can not be used anywhere else. If you need to make another purchase, you can get another single-use card from your bank.
It is very convenient to shop online but that ease does not come without risks. Credit monitoring experts point out that those who exercise caution before they provide their private information online reduce their risk of credit fraud considerably. Identity theft is a major problem in this world today and will continue to be until consumers start taking the problem seriously and become more proactive in setting up a plan to protect themselves. You can get more information from about identity protection & credit monitoring at http://www.stopidentityfraud.org/credit-monitoring-services

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Basic Strategy For Personal Investing

People invest their savings in real estate, share market, mutual funds, bonds etc to secure their future. You should invest your money in that field where there is minimum risk. “Don’t put all eggs in same basket” means do not invest your whole money in one field. Invest your money in different saving schemes so that if you suffer any loss then you can easily recover from that loss. Here are some tips for wealth building are:
Goal setting: For wealth building, proper financial planning is necessary. For proper financial planning you should set some goals for future and set priority for each goal. You can easily achieve your goals by developing a plan and sticking to it.

Retirement fund: You should save some part of your salary in your retirement fund before paying your monthly bills. In some departments, some part of employee’s salary is automatically deducted into their retirement fund. Save as much money as you can in your retirement fund. In your old age, you will not be dependent on anyone. This fund will also help you to meet your future liabilities like higher study or marriage of children.

Pick the right mortgage: If you are planning to take a home loan for buying a new house then you should choose that bank which offers home loan at low interest rate. If the rate of interest is low then it will not put any burden on your salary and you can also save some money for your future.

Investing is putting your money or capital in an enterprise with the expectation of profit. It’s a great way to grow your money. You invest your money in stock market, bonds, shares or real estate to multiply your money. You invest your money for a bright future and you prefer the field that fetches you maximum profits. If you are interested to earn handsome profits, here are some valuable investment tips for you.

Diversify: Remember one thing before investing “don’t put all your eggs in the same basket”. This means that do not invest all of your money in the same stock. Invest your money in different schemes so that if you suffer any loss then you can recover from that loss. So, don’t pick only one type of investment and invest your money in different fields like real estate, bonds, shares etc.

Do your Homework: You should have proper knowledge about the field where you invest your money. Suppose you want to invest your money in shares then you should have proper knowledge about share market. Price of shares changes everyday. If you want to invest in real estate then collect complete information about real estate before investing.

Don’t gamble with money: Don’t invest your money blindly in any field. A common man has limited amount of money and he cannot suffer loss. Don’t invest your money where the risk is high. For example, price of some shares fluctuates everyday. Don’t buy these types of shares as sometimes there can be heavy downfall in the price of these shares and you can suffer a huge loss.

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