For most individuals, losing a wallet quickly triggers panicked feelings. In this scenario, it's best for them to remain calm and follow a few simple procedures to ensure their information is safe.
A lost wallet can very easily result in identity theft, as most people carry their credit cards and personal identification with them. In fact, a lost wallet is more likely to result in identity theft than online information mining. The best way to minimize the threat is to take three preventative steps before losing a wallet
. One way to avoid having a lost wallet lead to identity theft is to carry as little identification as possible. For example, forms of ID, such as a Social Security, student or health insurance card, should be kept in a safe place at home unless an individual specifically needs them.
If consumers do lose their wallets, they should immediately cancel all cards they were carrying, as well as contact government agencies to alert them of the issue, a Fox Business report
said. In addition, Fox also listed three other tips, including that they should keep an eye on their bank statements so they can identify any potential signs of fraud.
© 2003-2012 IDentity Theft 911, LLC. All Rights Reserved