5 Tips for Protecting Your Pay Stubs From Identity Theft
Identity theft is every individual’s nightmare because it leads to a lot of problems and complications that could have been easily prevented. One’s personal data is always at risk because multiple websites and mediums are constantly requiring it for authentication purposes.
Whether it is for financial purposes or just making a new account on any subscribing service some extent of authentication is required. The authentication cannot be ignored because it is important for the platform to verify your identity. However, it can lead to certain third parties getting a part of that information which they can use for nefarious purposes.
One way in which an individual can become privy to identity theft is by not protecting their pay stubs. A pay stub includes important personal details like addresses and account details. A lot of information can be stolen if the pay stub is not protected. In this article, we will mention a number of tips to protect your pasteurs from identity theft.
1. Keep Them Under Lock and Key
Any personal document is meant to be protected so that no information is leaked or misused. While documents like a driver’s licence are meant to be kept in the wallet in case any proof of competences is required, pay stubs are different. If you are getting them in the physical form, neatly arranging them in a folder and keeping that folder in a locked drawer is your best bet to protect personal information.
There is not much issue with keeping physical copies. This is because thieves will not break into your house to steal your pay stub in order to use your personal information. However, they can also be accessed digitally which requires more caution than accessing the physical document.
Any online platform with sensitive information is usually protected with firewalls but they can be broken down if the security is not well managed. The digital medium is, therefore, best used with anti theft software. Use TheBestPaystubs for maximum security on a digital platform while accessing pay stubs.
2. Manage Security
The most protected email services should be used for accessing personal information like that of a pay stub. One can manage the security settings on their email account by manually setting up security related questions and locks. Just like you are taking care of your electronic mail, you should also manage your daily correspondence at your address.
Do not let the envelope spoil up until the end of the week to take them out. Collect your mail daily without fail and keep on top of the general dates where the pay stub is mailed to you. This will allow you to take action in case one day it does not appear in the mail. Many thieves do not try to go into technology and use the old school method of physical stealing. Both of them are bad for you which is why vigilance is highly advised.
3. Shred Documents
No matter how safe it is, one cannot keep collecting documents and filling up drawers. While you should keep a record of all the payment details and related documents it is okay to let the older ones go after a while. Pay stubs that are a couple years old or from a previous employer do not have any function other than that of record keeping.
People usually keep them because it includes a lot of personal information which cannot be just thrown into the dustbin. So if you want to free up space and protect your personal information in one go, shredding is the easiest manner to do so. Shredding the pay stubs or just manually tearing them up in small pieces is more than enough protection of your personal information.
One should try to do it every once in a while to clear the clutter. If you are feeling paranoid, you can also through the shredded documents in different batches spanned across a period of several days.
4. Review Your Credit Report Periodically
Any expert would recommend looking at the credit report annually but it can be made more frequent if you feel at risk of identity theft. Many people do not look closely at the credit report and pay for something they have not bought. Digital identity theft is far more likely to take advantage of your credit card information and other account details.
One will not even be aware that their information is stolen in case something like that happens. The auto debit facility on the credit card will be your worst enemy in such a scenario. However, all of it can be easily prevented by reviewing the credit report regularly which can be once in three months.
This will allow you to raise a complaint with your bank in case you detect unknown activity. The eventual risk after identity theft is losing money. Both of them are highly undesirable which is why a high level of vigilance is advised.
5. Know What Can Happen
Reading about identity thirst is very scary but this information is important to know. Understanding the extent of damage will allow an individual to prepare well for it. Identity thirst is not a promise and can be easily prevented if only one is aware of the risks. The major issues that can arise by not protecting your personal details on pay stubs are:
• Impersonating as you and taking a loan under your name. You will end up paying for it.
• Changing the address so that the tax returns go to the thief instead of you.
• Steal money from your bank account or credit card.
All of these tips are equally important to protect yourself from identity theft. Pay stubs have important details of payment based on your working hours and gross pay. Keeping a record of the recent payments is important but the older ones can be disposed of safely too. Just a little vigilance in both offline and online setups need to be exercised to be safe.