How To Create An Identity

How to Prevent Identity Theft

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Identity theft is a rising crime. Every year more than 60 million Americans are affected by identity theft, according to an online survey by The Harris Poll carried out in 2018. Javelin Strategy ran a separate survey in which they revealed that a year earlier in 2017, 16.7 million cases of identity theft were reported in America. That led to close to $17 billion of lost data, which amazingly isn't the record value. That was set in 2012 when $21.8 billion was lost thanks to identity fraud. Preventing fraud and reacting to it are two separate things. We'll cover both so you're aware of what to do.

Fraudsters

Fraudsters need access to your personal details before they can take your identity and take out loans or run up bills in your name so keeping your personal information secure helps. Don't carry your Social Security card in your wallet. Identity fraudsters often need your SSN to take your identity. They also need your birthdate and your bank account number so be careful who you give them out to. They may get some of this information from your mail so collect it every day.

Online

The most common place for fraudsters to get your details is online. Because of this, you should make sure your firewall settings are updated when using public wi-fi networks and use a virtual private network if you're accessing the web through public wi-fi. Make sure you have virus-detection software and that it's up to date. You also need to be careful with your cell phone. Make sure the phone's security features are up to date and always use a password or pin code of some sort to lock your phone.

Complex Passwords

You must have been told this a thousand times but the best and simplest advice for staying safe online is to create a complex password. Use a random collection of letters, numbers, and characters to create a password that's impossible to figure out. Stuff like your mother's maiden name, your pet's name, or your children's names aren't worth using as this information is often available through social media. Have different passwords for your important sites like your bank, PayPal, and credit card accounts to those you use for social media.

Statements and Credit Reports

You can't prevent fraud by checking your statements and credit reports but you can spot it early and report it. If a fraudster has your details and takes out credit against it, you'll notice that on statements and your credit report. If you don't recognize a charge on your credit card statement, query it with the card issuer. You also need to be alert to any news of breaches in security. If your data is compromised by a security breach, you're more likely to fall victim to fraud.

How to React

If you are a victim of identity theft, report it. You'll need to freeze your credit files. You can do this for free with Equifax, Experian, Innovis, the National Consumer Telecommunications and Utilities Exchange and TransUnion. When it's in place, it prevents anyone from taking out credit accounts or utilities under your name. If your identity's compromised, you'll need to report it to the Federal Trade Commission (FTC). You can do so online at IdentityTheft.gov. If you've been a victim of tax theft, report it to the IRS. If your medical ID has been stolen, report it to Medicare if you have that service.