A couple of months back, one of my sons flew to the Dominican Republic to visit an old school buddy who works there for Uncle Sam. Within hours of landing in the D.R., somebody was buying stuff, using his credit card, at a Target store near Miami. It wasn’t him.

Many feds, among the most traveling folks in America, have similar (or worse) horror stories to tell. About how they were victims of identify theft, whether they were on official business in New Orleans or on a pleasure trip to Europe.

So how do you cover your assets?

We asked a pro for some tips. She is Rebecca Schreiber of Solid Ground Financial Planning. She specializes in helping feds manage, and in this case protect, their money.

Here’s her advice:

“Have you ever seen the trick where the magician puts his lovely assistant into a box, the box falls apart and another woman is standing in her place? This classic trick has not only shocked and amazed thousands of on-lookers over the years but is the structure for most identity theft schemes today.

“Identity theft is a fast-money game. Most thieves are into the smash-and-grab: swipe the card, run it up before anyone knows it’s gone and get rid of it someplace public. This modus operandi has morphed beyond amateur pickpockets into a sophisticated underground industry where identity hunters buy and sell the names and social security numbers of their next targets. With the black market honing in on responsible bill-payers, what’s a fed to do?

“Protect yourself where you are most vulnerable – on the road. Mobile feds who are shipped across the country and across the world need to pay special attention to their credit. If someone goes joyriding in your good name there are domestic law enforcement and credit bureaus willing and able to help. If your information gets taken outside U.S. borders, the crime may be outside U.S. jurisdiction. Aside from having your credit card surgically attached to your body there are ways to travel freely and protect yourself. Follow these three easy steps to keep your credit card close and your identity closer:

“Step 1: Designate a travel-only credit card and checking account. Look for a bank with low ATM fees and currency conversion rates. The travel checking account should be from a bank separate from your regular personal bank.

“Step 2: Before the trip transfer the amount of cash you expect to spend on the trip from your regular checking account to the travel account. Let the bank and credit card company know when and where you will be going so they can block fraudulent charges. By only spending the cash in the travel checking account you may also keep from overspending on your trip.

“Step 3: Remove any personally identifiable information from your wallet or purse outside the travel credit card, debit card and emergency contact information. Think about it – if someone stole your wallet would you want them to have your social security number, home address and pictures of your kids?

“Taking a few minutes to exercise these precautions will save you a world of hurt: cleaned-out checking accounts, bounced checks, delinquent debt payments, a demolished credit score and a police report. By separating your travel accounts from your regular accounts, if something does happen, your good name will stay intact. ” Rebecca Schreiber: Rebecca@solidgroundfp.com

        Read more: Mike Causey

Leave Credit, Money and Money

Those are the subjects of our Your Turn with Mike Causey radio show tomorrow from 10 to 11am EDT. Jessica Klement from the Federal Managers Association will give updates on locality pay for feds in Alaska and Hawaii, the bill to allow FERS employees credit for unused sick leave and a plan to rehire federal retirees. Later in the show, financial planner Allan Roth talks about his just-published book How A Second Grader Beats Wall Street

E-mail questions for them to me: mcausey@federalnewsradio.com and you can listen live anywhere at: www.federalnewsradio.com or in the DC area on WFED 1500 AM.

Nearly Useless Factoid
by Suzanne Kubota

Tomorrow is Barbie’s birthday. She’ll be 50, and she’s still got it. She’s on Twitter and she’s even getting a tattoo.

To reach me: mcausey@federalnewsradio.com

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