We have a lot of advantages thanks to the Internet. Unfortunately, it has made us more vulnerable to identity theft. Victims of identity theft lose time, money, and peace of mind. The majority of identity thieves take personal information over the internet. An identity thief, on the other hand, can collect personal information from garbage cans and other unprotected sites.
The first step in preventing identity theft is to understand how it occurs. You can then begin taking actions to reduce your exposure. Although there is no way to completely avoid identity theft, you can make it more difficult for fraudsters to acquire your data and accounts.
Here are the ways you can prevent:
What is Identity theft?
Identity theft is when someone uses your personal informationor steal from youto impersonate you.
What happens in an Identity Theft?
Identity thieves can:
- Deplete a victim’s bank and investment accounts.
- Create new credit lines
- Obtain utility service
- Steal your tax refund, and more!
Because data breaches are so common, your personal information may have already been compromised. In this new world, it’s prudent to take precautions to avoid criminal actors from accessing your data and destroying your financial situation.
How do thieves steal your information?
SSN, credit card details, and driver’s license numbers are some kinds of personal information that criminals can utilize. Hackers will have an easier time infiltrating and stealing people’s personal information as more major institutions assemble vast computerized databases of personal information. However, identities are still stolen in less tech-savvy methods. By snatching your wallet, dumpster diving for abandoned documents, stealing mail from your mailbox, or even glancing over your shoulder at an ATM, thieves can obtain your personal information.
Once a criminal gets your confidential info, he or she can use it to perform several types of fraud. Fraudsters can establish a new credit card or charge products to your credit card, rent houses or acquire a job, open an account in your name, or start an account for utility services based on the personal information they receive.
Ways to prevent Theft
- Strong Password protection
Weak passwords are a godsend for identity thieves, especially if you’re using the password throughout. Once the criminal has your credentials, they may get into your accounts and cause havoc. Passwords should be long (above 10 characters), strong (employ upper and lower case letters, digits, and symbols), and unrelated to your personal information. Password managers and two-factor authentication are also good password management methods.
2. Get strong security software
Other precautions are useless if your computer or phone has been infected with malicious software since you’ve given the thieves access to all of your internet activities. Make sure any os updates are updated as well.
3. Lookout Phishing emails Scammers can imitate government or company phone calls, and emails that appear to be authentic could be efforts to steal your personal information. Rather than replying to a phone or email, start a callback or send a return email from a known entity, such as the official website.