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It is hard to imagine but every 79 seconds, there is a victim of identity theft. Victims of identity theft lose thousands of dollars from banks and/or other financial accounts, have new accounts created in their name, get their credit history ruined, and possibly even get arrested for a crime they never committed.

Unfortunately, identity theft happens all the time and in many cases, may take the victim several years to recover from identity theft and get back on track. Identity theft, or commonly referred to as I.D. theft, is the fastest growing of all crimes and a whopping 42% of all complaints filed with the Federal Trade Commission are relating to identity theft.

Here are simple but very effective tips on how you can avoid being an identity theft victim.

Protecting your social security number
Memorize your social security number and keep it in a secured place at home. Never carry your social security number in your wallet. Think twice before you give the social security number to anyone.

Monitor financial statements
Keep a tab on when financial statements arrive in the mail. If you have been expecting a financial statement for several days and haven't received it yet, call the financial institution right away. A missing statement may signal a theft.

Review your financial statements for accuracy and unauthorized expenses. If you find any such expense, bring it to the notice of your bank or financial institution right away.

Monitor your credit reports
It is important to look into your credit reports to see accounts held in your name. You may want to do this at least twice a year. A free credit report can be made available by calling either of the three credit bureau or online at annualcreditreport.com

Monitor postal mail
Postal mail is involved in most of the identity theft cases. It is important to check your mail regularly. Never leave your mail unattended for days and notify the post office to hold mail when you are out of town or on vacation.

Secure personal documents
All your personal documents must be secured in a fire-safe box to avoid being a victim of identity theft.

Shred sensitive documents
Any sensitive information you may not need any longer should be promptly shredded. Shredding is an essential strategy to keep identity theft at bay. Paper shredders are available in all office supply stores.

Secure your online presence
Whether you are emailing or chatting, never give any sensitive information unless you are well aware what you are getting into. Even so, it is best to call them up rather than rely on sending sensitive information online.

Secure your personal computer or laptop
Make sure your computer is password protected. Even data in Excel spreadsheets can now be password protected.

Beware of shoulder surfing
Be well aware of who is around when at the ATM or doing anything that requires you to enter a PIN or a password.

Online merchants
Always shop online with merchants you can trust. A secure transaction online is the one that starts with a "https." Use a credit card that has a low limit when making on-line purchases.

Avoid being a vishing victim
Vishing is phishing by phone. In the same way an identity thief will use e-mail to "phish" all your personal information, they will use the telephone to personal information and then rip you off. These vishing scams in most cases will target your bank account or your credit card accounts. To avoid being a victim here, never call a number you may have received in an e-mail or over the phone. If you have questions about your bank financial statement, call the number on your bank statement. Likewise, if you have questions about your credit card, call the number on your credit card statement. Never give your financial information to anyone who calls and requests for it. If you think the call is not legitimate, call your bank immediately as well as notify your phone company.

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