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They say that “one man’s trash is another man’s
treasure.” This is exactly true in the case of identity
thieves. There is that time each month when we all have to pay
our bills. We check our bank accounts and make sure that we
have enough money in them so that we can pay off our various
utility and credit card bills. After paying them we
irresponsibly throw out the bill receipts as we think that the
amount has been settled. This common practice of many Americans
is how most identity thieves thrive.
Many identity thieves collect the personal
information of their victims through the process of dumpster
diving. They rummage through trash to find the remains of
old credit card bills, bank statements, and other financial
documents. By collecting such personal information, it becomes
easy for them to take control of your financial assets. Postal
mail plays a major part in Dumpster Diving. Normally credit card
companies over-burden customers to offer pre-approved credit
cards and Loan offers. If this mail is not used by the addressee
and it is not properly disposed of, it could fall into the hands
of a “dumpster diver.”
Based on the reports of identity theft victims,
88% of the information was collected through the means of
“dumpster diving.” Only about 12% of victims believed that
their identities had been stolen over the internet. The Federal
Trade Commission estimates that over 9 million Americans fall
prey to identity theft each year and that 3.7% of purchases made
by Americans are fraudulent; made with money that is not
theirs. About 48% of victims find out that their identity has
been stolen within 3 months. Another 9-18% find out only after
a period of four years or more. On average 66% of victims’
personal information is used to create new credit card
accounts. Another 28% of victims personal information is used
to purchase cell phones and service plans to accompany them.
For an unfortunate 12% of victims, warrants are issued for their
arrest under financial cases and suits. Victims spend an
average of 330 hours trying to repair damage that is caused by
identity theft.
These facts and figures on “dumpster diving”
and identity theft in general are alarming. It raises awareness
that we must all be very careful with the personal information
that we throw out. There are people out there who are willing
to go through your trash, collect the information, and cause
financial harm to you. So it is imperative that we must take
good care of all of our financial documents and make sure that
we properly dispose of them. For example, be sure not to throw
out documents that have information concerning your Social
Security Number, Driver License number or bank account numbers.
Be sure to shred important documents that you wish to throw
out. Also, never throw out credit and debit cards as it; make
sure to cut them into several pieces first. Identity theft
through dumpster diving is very easy to prevent as long as you
are aware of it. Just take the extra steps to be sure that
important personal information is not thrown out and is disposed
of in the correct manner. This way, we can all prevent
financial harm.
Especially if you are a business or a company, your information
is critical since you could be compromising not just yours but
your customers’ and vendors’ private information as well. Say No
to identity theft and yes to Shredding. That’s the only way to
reduce dumpster diving mishaps.
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