Did you know there were 14.4 million victims of identity theft in 2018?
According to Javelin Strategy, each case cost the victim an average of $1,050 – and that’s only the cost in dollars. When an individual’s identity is stolen, the thief wreaks major havoc on the victim’s financial health, which can take months, or even years, to recover from. Fortunately, there are steps you can take to prevent yourself from becoming the next victim. Here is your complete guide to identity theft protection. 1. Monitor your credit One of the best preventative measures you can take against identity theft is monitoring your credit. You can order an annual report once a year from each of the three credit reporting agencies at AnnualCreditreport.com. Check your score for any sudden hits and look through your reports for suspicious activity. It’s also a good idea to review your monthly credit card bills for any charges you don’t remember making. 2. Use multi-factor authentication When banking online, or using any other service that utilizes sensitive information, always choose multi-factor authentication. If possible, use your thumbprint as one means of identification. Otherwise, use multiple passwords, PINs or personal questions to make it difficult for a hacker to break into your accounts. 3. Use strong unique passwords Never use identical passwords for multiple accounts. If you do so, you’re making yourself an easier target for identity thieves. Instead, create strong, unique passwords for every account you use. The strongest passwords use a variety of letters, symbols and numbers, and are never mock-ups or replicas of popular phrases or words. 4. Only use Wi-Fi with a VPN Did you know you are putting your personal information at risk every time you use the free Wi-Fi at your neighborhood coffee shop (or any other public establishment)? When using public Wi-Fi, always choose a Virtual Private Network (VPN) instead of your default Wi-Fi settings to keep the sensitive information on your device secure. 5. Block robocalls Lots of identity theft occurs via robocalls in which the scammer impersonates a government official or the representative of a well-known company. Lower the number of robocalls reaching your home by adding your home number to the Federal Trade Commission’s No Call List at donotcall.gov. It’s also a good practice to ignore all calls from unfamiliar numbers, because each engagement encourages the scammers to try again. 6. Upgrade your devices Whenever possible, upgrade the operating system of your computer, tablet and phone to the latest versions. Upgraded systems will keep you safe from the most recent security breaches and offer you the best protection against viruses and hacks. 7. Shred old documents While most modern-day identity theft is implemented over the internet or through phone calls, lots of criminals still use old-fashioned means to get the information they need. Dumpster-divers will paw through trashed papers until they hit upon a missive that contains personal information. It’s best to shred all documents containing sensitive information as soon as you don’t need them. 8. Keep personal information personal Be super-cautious about sharing sensitive data, like your Social Security number and banking PINs, with strangers – and even with friends. It’s also a good idea to use the strongest, most private security settings on your social media accounts to keep hackers out. Regarding social media sites, be wary about how much personal information your put out there. Identity theft can be an expensive nightmare. Be proactive about protecting your identity and keep your information and your money safe. Your Turn: Which safety procedures do you follow in order to protect yourself from identity theft? Share them with us in the comments.
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