Dumpster Diving
People worry so much about digital information leaks nowadays that we forget you can still score plenty of information the old-fashioned way -- by rifling through someone's trash. Credit card offers are the big offender here, which is why you may want to opt out of receiving them. But ATM receipts, bank statements, prescription bottles, and more give ID thieves plenty to work with. And remember, someone who's out to steal your identity doesn't necessarily need all of your information given to them on a silver platter. Once they have a couple of pieces of info about you, that starts the ball rolling, making it easier and easier to collect more by calling your bank, your insurance company, or whomever else they might think makes an easy target.
Consider Steven Massey, who racked up more than a million dollars in profits on gambling and credit card debts on cards that he filed with other people's information -- information that he found dumpster diving outside of accountancy offices. This was back in the 90s, and today offices that handle personally identifiable information are held to standards about how they handle it. But not everyone follows those guidelines, and private individuals aren't held to them at all, so while your own trash may not be as lucrative a target, it's still a good idea to shred your personal info before putting it on the curb.
Did you know...
- When it comes to counterfeiters, North Korea are pros. They have gotten so good at counterfeiting American currency (particularly the $50 and $100 bills) they their fakes are known as "superdollars." They require specialized Federal Reserve equipment to be identified. There are $45 million worth of North Korean fakes…that we know of.
- Want a money saving tip? Ditch credit and debit cards, and stick to carrying around cash. Studies show people spend between 12 – 18% more when using a plastic card as opposed to when paying for things in cash. If you physically have to dole it out, you’re much more aware that you are spending your hard-earned money!
- There are over 1.6 million automated teller machines around the world. And that really does mean the entire world. There are even two ATMs on Antarctica at McMurdo Station operated by Wells Fargo. Friday is the most popular day that ATMs are used worldwide, and the average withdrawal is around $80.
- Paper money is actually pretty heavy. One pound would be worth $454 in $1 bills. That means $1 million comprised solely of $100 bills would weigh over 20 pounds. Those suitcases filled with money in movies must be hefty to lug around all that paper money. If you plan on robbing a bank, you better bulk up!
- Do you know what the lifespan of U.S. currency is? The higher the denomination, the longer it stays in circulation. Both $50 and $100 bills last 9 years. The $20 sticks around for 4 years. $10 bills circulate for 3 years. The $5 bill has a 2-year lifespan, and the $1 bill only lasts around 18 months before being retired. Coins last around 30 years.