Identity Theft: How to Prevent It from Happening to You
In 2019, a study by Javelin Strategy & Research found that 14.4 million people became victims of identity fraud which amounts to about 1 in 15 people. So how can you prevent yourself from being a part of this statistic?
Identity theft can put you in a world full of trouble, draining you of your financial resources and leaving you with a problem that can often take weeks to months to repair. In 2019, a study by Javelin Strategy & Research found that 14.4 million people became victims of identity fraud which amounts to about 1 in 15 people. So how can you prevent yourself from being a part of this statistic? Here are some tips to help you stay safe.
Who’s at risk?
Everyone. If you’re online there’s always potential for information theft but thieves usually target children and seniors the most. Children are prime targets because they often won’t know they’re victims until they’re adults and discover that their information has been used when attempting to open accounts of their own. Senior citizens also fall into a high-risk group due to the fact that they frequently provide their information to their physicians and caregivers. The amount of people, from doctor’s offices to third-party providers, that often have access to senior information makes them more vulnerable to identity theft.
What are some of the warning signs of ID theft?
You most likely won’t receive a notification from anyone about your identity being stolen but you could be a victim if you’re experiencing:
- Bills for items or subscriptions you’ve never purchased or signed up for
- Calls from debt collectors for accounts you didn’t open
- Being denied for credit or loan applications
- Unexpected changes in your credit scores
- Your child receiving unsolicited marketing offers or collection calls
- The inability to e-file your taxes
- Receiving a letter from the IRS about activity you’re unaware of or listing an employer that never employed you
- Notifications from your financial institution about account activity like password or email changes that you did not make
What can I do to stop it from happening to me?
- Protect your social security number and only provide it only when necessary. NEVER carry your social security card in your wallet.
- Monitor your mail. If you notice that your statements or bills are late, contact the sender. Remember to place your mail on hold if you’re going to be away from home.
- Protect your laptop, smartphone and other computing devices with mobile security apps like Norton, Avast or McAfee.
- Review your bank statements and credit report often and report any unauthorized activity.
- Shred your important and private documents so that “dumpster divers” don’t have easy access. Enroll in eStatements and bill pay to avoid having more paper documents.
- Use a virtual private network (VPN) like ExpressVPN or NordVPN when using public WiFi.
- Use strong passwords and create different ones for each site you access. Utilize a password manager to help you keep track.
- Look for a secure HTTPS URL and lock icon and make sure the URL is correct. Oftentimes, scammers will mimic a trustworthy site.
- Pay attention to your antivirus program. If it flags a site as malicious, do not access the site.
Unfortunately, there’s no sure way to prevent identity theft from happening to you but you can take these steps to reduce your chances. If your identity is stolen, report the theft and get started on a recovery plan.
The act of getting everything resolved can become a daunting task. Luckily, Checking PLUS account holders have access to their very own licensed attorney to assist in filing police reports, contacting financial institutions, creditors, credit bureaus and even utility companies on your behalf. Upgrade to Checking PLUS free for 90 days and add an extra layer of reassurance with additional consumer protection services like junk mail reduction, lost document recovery and more.