Identity theft is an important matter. It affects many people in the world. The results of this crime cause a lot of financial problems, mental problems, and stress. Because of technology, the crimes are becoming more and more advanced. Modern criminals have new ways of stealing people’s identities.
Before you laugh and say “This can’t happen to me”, remember: identity theft is no joke—just ask Dwight Schrute!
As per the Federal Trade Commission reports, identity theft continues to be one of the most common forms of consumer fraud. New ways to steal identities are invented every day, and we are more exposed to our personal information online. Victims of identity theft often become victims of financial ruin and suffer a great deal of emotional impact as well. They sometimes need to navigate a series of difficult or complex legal and bureaucratic processes to recover their stolen identity. In this rapidly changing threat environment, how can you protect yourself against the risk when the issue of identity theft can come from both online and offline sources?
10 ways to protect yourself from identity theft
Since it is becoming more and more common for identity theft to occur, protecting yourself is very important, not just to remain secure, but to be proactive and vigilant. Here are 10 ways you can lower the risk of identity theft:
1. Use strong passwords
Complexity is your friend when creating passwords. Make passwords longer than 14 characters that include letters, numbers and special characters. Passwords are your front line. Codewords, which are strings of random, memorable words, also add a layer of security but they are much easier to recall.
Read more:
How to Create a Strong Password? The Best Security Practices
How Long Will It Take to Crack My Password?
2. Use two-factor authentication (2FA)
And that’s where secondary verification comes in. Even if passwords are compromised, 2FA will still require a separate ‘check-in’ from another device, thus inhibiting any unauthorized access. Many platforms offer 2FA options, including text messages, authenticator apps, and even biometrics, making it easy to add an extra layer of security. Using 2FA significantly reduces the risk of unauthorized access, as potential hackers would need both your password and access to your secondary device. This extra step may take a few more seconds, but it greatly improves the protection of your sensitive information.
On top of that, tools like WOT’s Data Breach Monitoring will alert you if your credentials have been compromised.
In addition to this, WOT’s anti-phishing features will protect you from suspicious emails.
3. Monitor financial activity regularly
Regularly checking your bank and credit card statements will flag unauthorized transactions quickly, and allow you to act before any damage is done. Setting up alerts for all transactions in real-time can further boost your awareness.
4. Be cautious online
We all need to be careful about emails from people we do not know and about data leaks. Don’t click on links or attachments from emails you don’t recognize. Don’t give out personal information on unsecured sites on the internet. Look for signs of phishing attempts, such as urgent language or unfamiliar URLs, which are common in fraudulent emails. Always ensure websites are secure by checking for “https” in the URL before entering any sensitive information.
5. Use identity theft protection services
Consider subscribing to a reputable identity theft protection service. These services offer monitoring of your credit report, social security number, and personal information across various databases. They alert you to suspicious activity and can provide recovery support in the event of identity theft, giving you peace of mind and an added layer of security. Many services also offer insurance to cover losses related to identity theft, helping to alleviate financial burdens if a breach occurs. Regular updates and alerts from these services keep you informed, allowing you to act quickly at the first sign of unusual activity.
6. Secure personal documents
Keep sensitive information in safe custody. Making copies of your important files in contingency databases provides extra layers of security to your information. Store physical documents in a locked safe or secure filing cabinet to protect them from unauthorized access. Additionally, consider encrypting digital files to prevent data breaches in case of device theft or unauthorized access.
7. Implement credit freezes
A credit freeze restricts access to your credit file, which is what creditors look at before issuing credit accounts in your name. A freeze can help to ensure that identity thieves can’t open accounts in your name. This is especially helpful if you’ve become a victim only recently, and you’re not yet certain of all your compromised accounts. You can find detailed instructions for placing, lifting, and removing freezes to help you stay safe.
8. Set up fraud alerts
Contact your creditors to activate fraud alerts on your behalf. Fraud alerts require creditors to take extra steps to verify that they are contacting you before issuing any new credit. These alerts can be placed with credit bureaus as well, which then notify other creditors to remain vigilant when they receive credit applications in your name. They typically last for a year, but you can extend them if you’ve experienced identity theft. Fraud alerts are free and offer an extra layer of protection for your credit file.
9. Educate family members
Raise awareness about online risks with family members, such as children and elderly family members; discuss internet safety measures, and come up with protection strategies. Activate security features on household devices. Help them recognize common warning signs of online threats, like suspicious messages or requests for information. Emphasize the importance of staying vigilant and maintaining a cautious approach to online interactions.
10. Exercise caution with public WiFi
Public networks are generally insecure and you don’t operate them through a secured system: just stay away from inputting passwords and other sensitive information on such networks. Using a VPN will also help, as it encrypts the data being communicated, drastically reducing the likely chance of catching. When connecting to public WiFi, avoid accessing any financial or personal accounts to limit exposure. While it may look safe, always verify that you’re connecting to a legitimate network, as attackers sometimes set up fake hotspots to intercept information.
Always keep your identity secure
These are not just statistics – identity theft can put you at risk, and change your life. Prevention is the best cure, and tools such as WOT are invaluable when it comes to protecting your information. Work to keep more control over your personal data. Stay informed, stay vigilant, and use smart tools to protect yourself from identity theft. Check out what protection you have available today, and invest in protecting your identity. Your security and your peace of mind are worth every effort. Don’t risk identity theft. Act now to avoid identity theft before it happens.
FAQs
What should I do if my identity is stolen?
If you believe you are a victim of identity theft, put a fraud alert on your credit file right away. Report any charges that seem suspicious. Freeze your credit if you think it’s being used to open accounts. Inform the Federal Trade Commission to help you prepare an action plan for your particular situation.
Is identity theft insurance worth it?
Identity theft insurance may cover certain expenses incurred in restoring your identity. Consider your risk factors and whether the premiums correspond with the benefits; check policy provisions, such as the scope of monitoring services and case management, and their fit with your needs.
How can I minimize the risk of data leaks?
Secure sensitive data by using encryption tools and don’t give out personal information on shady sites. Frequently update software to patch security holes and subscribe to data breach notification services to be alerted when your info is threatened so you can act quickly.
What can I do to secure my identity while traveling?
Make securing personal documents such as your passport an early priority on arrival, if possible. Use secured Wi-Fi networks or a VPN to browse the internet. Be discreet when using ATMs or accessing free Wi-Fi, and have local emergency numbers to hand in case you need to report a document stolen.
Can basic information lead to identity theft?
They can create identities out of even basic information such as your name and address, as well as use sophisticated techniques to obtain more information about you. Be cautious with the information you provide both online and offline, and check privacy settings on digital accounts regularly to limit the exposure of your data.