Protecting Yourself Against Identity Theft: 10 Elements To Be Aware Of

Unfortunately, identity theft is a bigger problem than ever before. The increasingly digital lives people lead make for more creative ways to commit fraud, and if you’re not careful enough, it’s relatively easy to be caught out.

Nearly everyone has a significant amount of private information online, so you need to know exactly what to do to stay safe. In this article, you’ll learn about 10 of the most important aspects of protecting yourself.

1. Know Where Your Information is Stored

The most important initial steps are to properly secure any information you store online. The online arena is where identity theft most commonly takes place, so it’s crucial to be aware of where your name, passwords, banking details, and social security number are stored.

Make a list of each website you have an account with and the information you store there; you’ll want a detailed record to refer back to when it comes to locking down with extra security measures. You should also make a note of the policies in place designed to protect your info for each of these accounts.

2. Check Your Bank Account Reports Regularly

Usually, efforts to steal your identity ultimately have to do with stealing your money, so your bank reports and statements are an essential screening tool.Even the most sophisticated hacks leave a trail, and if any money has been stolen, you’ll most likely see it as an unaccounted-for transaction within your paper statement or online banking app. On that note, if you’re not already using online banking, start – this is the quickest way to find out about anything strange. You can then contact your bank immediately.

3. Don’t Forget to Review Your Credit Reports

Another area where fraudulent activity can show up is on your credit reports. It’s often the case that once identity thieves have compromised your accounts, they’ll attempt to take out large loans in your name.

These attempts can be particularly convincing, so if you suspect this has happened to you, you’ll need to contact your lender immediately. You may even need the help of a consumer protection attorney if things escalate.

4. Be Careful with Social Media

Everyone has a social media account these days, and you’ve likely already heard about several cases of people’s profiles getting them into trouble. Usually, these pertain to job interviews, but there are also plenty of cases where social media has compromised a person’s identity and resulted in theft.

Any personal information, from birthdays to what you’re doing that day, can prove a valuable piece of the puzzle for an identity thief biding their time. It’s best to keep as much information private as possible by using heavy restrictions on exactly who can visit your account; only allow people in your friends list to view your profile, and don’t accept friend requests from strangers.

5. Don’t Leave Paper Documents Lying Around

While most administration is done online these days, paper documents that come through the post are still widely used. It’s easy for these to pile up in the home, and given that they contain valuable information, it’s key that once you have the data you need, you get rid of them.

This doesn’t just mean throwing them in the bin – get yourself a shredder to ensure that your private info is completely concealed.

6. Stay Clear of Public Wi-Fi Hot Spots

If you can, avoid using public Wi-Fi hotspots – especially if you’re buying products online or inputting your bank information in any way.

These networks often have much weaker security protocols than the ones you use at home, and unfortunately, identity fraudsters have been known to wait online for unsuspecting victims for this very reason. Only use them as a last resort!

7. Keep Your Social Security Number Safe

Most identity theft attempts rely heavily on compromising your Social Security Number (SSN). You’ll use this number to open bank accounts and deal with your taxes, so if an identity thief gets hold of it, they can do a lot of damage in your name.

Be very cautious of anyone other than your bank or the government asking for your SNN. It’s good practice to only discuss it in person: never give it away as part of an online form unless the organization is officially verified.

8. Keep Your Devices Updated

Another thing identity thieves have been known to exploit is devices using older software versions or outdated apps. While you might neglect to pay much attention to notifications to update, the main reason to do so is from a security perspective.

Software is continually updated to patch security holes and create a more water-tight product, so remaining on old versions can leave you wide open for hackers to steal your information. Update your device’s operating system as soon as you’re prompted, and ensure you’re always using the latest version of your online banking app.

9. Be Wary of Cold Callers

Everyone’s experienced cold callers, but today’s cold calls are becoming increasingly difficult to detect, especially with the integration of artificial intelligence.

Pay attention to any advice offered from your bank, phone carriers, and lending companies about exactly how they’ll contact you. Most stipulate that they’ll never ring you out of the blue and ask for personal information.

10. Be Speedy

When dealing with identity fraud, time is of the essence. It’s critical that you report any potential fraudulent attempts immediately. In the US, you can do this by heading to identitytheft.gov.

Of course, you should also contact the relevant banks or lending companies to freeze your account, ensuring that no further damage can be done.

Wrapping Up

Hopefully, you now feel a little clearer on the most important aspects of protecting yourself against identity theft. There’s a fair amount to wrap your head around, but take it one step at a time, and you’ll work through it in no time. Once you have the necessary precautions in place, all you need to do is remain vigilant.