Adjust your computer settings to prompt for a password anytime the computer is used. Change that password from time to time. Don't reveal too much. Social networking sites such as MySpace and Facebook may ask for your birth date, but birth dates are a boon to identity thieves.

Desperate times mean desperate measures. In this economy, we are seeing scams of all kinds resurfacing, including credit card shaving. Merchants should also turn the card over and ensure the back of the card has the proper marks.

For sales conducted without a card for online or phone transactions, Harkins advises merchants to protect themselves by requesting the three-number security code on the back of the card (four digits and on the front of American Express cards). "If it doesn't match, ask additional questions or investigate the customer before completing the transaction," he says.

Inevitably, some of the scammers will succeed, and unless the cardholder has a firm handle on his or her account, the crime can go entirely unnoticed. Experts say this further reinforces the need for cardholder diligence on a regular basis. "It's vital to check your balances and accounts on a regular basis and report any suspicious purchases to help identify the theft quickly," says Krishnan.

Likewise, do not reveal any other personal info on these public sites, or in response to any e-mail requests for your Social Security number, credit card numbers, or other data, even if it's from a familiar-sounding company. Always err on the side of caution.

For example, if you receive an e-mail that says it's PayPal and wants to verify your credit card number, call PayPal directly from the number listed on its Web site -- NOT from any information in that e-mail. If you simply send your credit card number in response to that e-mail, you could find yourself stuck with a maxed-out credit card and a host of negative credit report problems.