Identity theft is a crime in which financial and personal information is stolen without consent. Identity thieves can use a person’s information to submit false tax returns, apply for financial services, steal financial accounts, or sell it to another party.
Understanding how identity theft happens is the first step to defending yourself. You can then begin taking action to reduce your exposure. Protect your data and accounts to prevent identity theft.
Warning Identity Theft Signs
There are numerous ways to recognize identity theft, and it can have a significant impact on you. Be aware of warning signs of fraud to respond quickly.
The following are some warning signs:
Your home bills are no longer mailed to you → If you don’t receive any invoices in the mail after a certain period of time, it’s possible that your personal information has been stolen, and the identity thief has altered your billing address to prevent you from receiving your statements.
Declined credit card or loan → If you have a good credit history but do not receive credit, an identity thief may have targeted you. You may have experienced identity theft if you get authorization for a loan or credit but the interest rates are higher than you anticipated. Keeping an eye on your credit will help you avoid this.
Charged for something you never ordered → Someone has stolen your identity if you get a receipt for a purchase you did not make or if you are responsible for past-due payments on credit accounts you do not own.
Your income tax return was turned down → It may be a sign that a return has previously been fraudulently submitted in your name if you filed your tax returns and then received a rejection notice from the IRS because of a duplicate return.
Your credit card statement shows a couple of test charges → Identity thieves frequently “test” a card they’ve stolen by making small purchases under $5 to see whether it still works. The scammer knows the way is clear for greater transactions because of the acceptability of the credit card.
Efficient Ways to Protect Yourself from Identity Fraud
Being proactive in your approach is crucial for protecting your personal information from identity thieves. Building strong barriers to deter identity thieves is the ultimate goal.
Secure Your Devices Using Passwords
A smartphone or tablet without a password is like leaving your door unlocked at home. Your email, financial accounts, and other private data kept on the phone will be accessible if the gadget ends up in the wrong hands.
Utilize a Password Manager
Employing the same password across all devices and accounts is a security risk. If you don’t, a scammer needs to crack one password to access all of your accounts. By using different passwords for each account, you can deter identity thieves from accessing your information. Never use your name or birthday as a password, and change it if you think an account may be hijacked.
Beware of Phishing Attempts
Do not click any links in messages or e-mails that seem suspicious. Phishing is a type of cyberattack where identity thieves fool you into providing your account details or other private information by using emails and websites that appear to be from your banking institution, credit card organization, mortgage lender, or another financial organization.
Maintain Regular Credit Report Checks
You will notice your financial account activity, including last-reported amounts. So checking your credit report frequently is an excellent approach to finding errors. You can handle a problem more quickly and prevent it from getting worse if you can identify something unusual early on, like an unknown account on your report.
Limit Exposure
Limiting the number of credit cards you keep in your wallet will help you decrease the damage when stolen. The theft of a Social Security number is an ID thief’s entrance to more financial accounts, so you should take extra precautions to protect it. You should additionally refrain from carrying your Social Security card on your person.
Avoid taking your personal data’s protection for granted because identity thieves frequently target victims. Kisel Law legal attorneys can give you a plethora of information and additional guidance in case you are a victim of identity theft. Do not hesitate to contact us and learn more about the identity theft procedure.