More than 15 million U.S. residents are victims of identity theft each year, with an estimated cost of financial losses totaling more than $50 billion. Protecting personal identification is a growing concern among consumers and businesses. 

According to Heather Nichols, marketing manager at Renasant Bank Eastern Region, a fraudster only needs a few pieces of information to compile a fraudulent profile, much of which is easily found on discarded documents such as old bank statements, bills or tax filings.

To reduce the risk of identity theft, Renasant Bank will host the annual community Shred-A-Thon event, from 9 a.m. to noon, on April 9, in the parking lot of the Renasant Bank at 721 North Westover Blvd., in Albany. The event is open to the public, and there is no charge for shredding documents; however, participants will be asked to limit printed material to two boxes per person. 

“This is the reason dumpster diving—looking through someone’s trash for personal documents—remains one of the most prevalent methods identity thieves use to collect information,” said Nichols. “Identity theft affects everyone in the community by limiting the ability of consumers to borrow money for things like a new car or new home. This stifles growth and hurts our local economy.”

The Renasant Bank Shred-A-Thon is an opportunity for community members to dispose of personal documents properly and help prevent identity theft.

“As smart consumers, we work hard to build a positive credit history and maintain our good name,” said Nichols. “We know a poor credit score can affect our borrowing needs, our ability to secure a job, get a new cell phone and even rent a car. Unfortunately, with so many aspects of our lives tied to our credit score, it only takes one identity thief to destroy your credit and change your way of life.”

For a list of recommended personal documents to shred, visit the Better Business Bureau website at https://www.bbt.com/financial-education/security/shredding-personal-documents.page