The Money Fit Show · Season 1, Episode 21
Surviving the Identity Theft Harvest Season
Holiday shopping can mean more transactions, more online purchases, and more opportunities for personal and financial information to be exposed. Pam Hult returns to The Money Fit Show to discuss what she calls the identity theft “harvest season,” how stolen information may be collected and tested, and ways consumers can reduce unnecessary exposure.
Protecting personal information during busy shopping seasons
Play Season 1, Episode 21 directly through Spotify without leaving Money Fit.
Stolen information may be collected long before it is used
Pam Hult and Todd Christensen discuss identity theft as something that may unfold over time rather than through one obvious fraudulent purchase. Personal information can be exposed through breaches, phishing, compromised accounts, unsafe transactions, or other sources and then stored, sold, combined, or tested before larger fraud occurs.
Pam describes the periods when information is gathered as a kind of “planting season,” followed by a “harvest season” when criminals attempt to use what they have collected. Holiday shopping can create additional opportunities because consumers are making more purchases and may be moving quickly between websites, apps, payment methods, and networks.
The broader lesson is not that every transaction is dangerous. It is that slowing down, limiting unnecessary exposure of payment information, and paying attention to unusual account activity can make it easier to spot trouble.
Topics covered in this episode
- What Pam means by the identity theft “harvest season” and why periods of heavy consumer spending can create additional opportunities for fraud.
- How the COVID-19 pandemic and changes in consumer behavior affected the identity-theft environment discussed in 2021.
- The episode's discussion of digital wallets and limiting how often payment-card information is entered directly into websites.
- Why consumers should be cautious about entering sensitive financial information while using public or otherwise untrusted Wi-Fi networks.
- The “planting season,” when stolen personal information may be collected through breaches, compromised accounts, scams, and other sources.
- How identity thieves may wait before using stolen information or begin with small transactions to determine whether an account is active.
Pay attention to the small transaction you do not recognize
An unfamiliar charge does not have to be large to deserve attention. Review account activity regularly and contact the financial institution when a transaction is not yours. Criminals may sometimes use small transactions before attempting larger fraud, and early detection can help limit additional misuse.
Data breach and identity theft resources
Some contact information in the original 2021 show notes is no longer appropriate to carry forward. These current resources provide breach information and federal identity-theft recovery guidance.
Pam Hult
At the time of this episode, Pam Hult was introduced as a Senior Director with LegalShield.
This was Pam's second appearance on The Money Fit Show. Her earlier conversation with Todd explored identity theft beyond credit reports, while this episode focuses more specifically on how personal information may be collected and misused around periods of increased consumer activity.
