How to Detect and Prevent Identity Theft?

Identity theft is when someone steals and uses your personal information like your name, ID number, or credit card numbers without your permission is called the Identity theft. Bad people or hackers sometimes take your name, Social Security number, birthday, and other personal information without your permission. They will use this information to pretend to be you is called identity theft and some bad people will use your information to steal your money from you. In 2023 over one million people told the Federal Trade Commission that this had happened to them. They reported it on the IdentityTheft.gov and the cybercrime portal website.

To make it less likely this happens to you, watch for warning signs. If it does happen, act fast to stop more damage. I will explain the warning signs and what to do in simple words that are easy to understand.

Identity theft is when bad people steal and use your personal information without your permission. Personal information includes your name, Social Security number, birth dates, and bank account numbers. The bad people pretend to be you. They use your information to steal money from your bank accounts and open new credit cards to buy things online. They can also use your information to get medical care or give your name if arrested.

Companies had data breaches where people’s information was stolen. This means that bad people may already have access to your personal details. Protecting the personal information is very important nowadays. If bad people get it then it can become dangerous to your finances and credit history.

1. Credit Identity Theft

The Credit identity theft happens when the criminal uses your personal information such as the birth date and your Social Security number to apply for the new credit card. Well, You might see the unexpected change into your credit scores or an account you do not recognize on your credit reports. You might get the debit collection notices or the court judgment against you. The best way to stop it is to freeze your credit card immediately.

2. Child Identity Theft

Criminals will steal the child identity and apply for a new credit in that child’s name. you won’t discovered until the victim applies for the college loans or the other credit. If your child is getting offers of credit cards or calls about late payments or debt collections, look into it. You can freeze your child’s credit to prevent it.

3. Synthetic Identity Theft

Synthetic identity theft is when the criminals will use some real and some fake identity details to create a made up person. They use a Social Security number that is not into the credit databases yet, like one for your child, and combine it with a real name and address. They apply for loans and the credit cards, making payments for a while as the credit limits grow. Then they max out the cards and disappear.

If you try to freeze your child’s credit and the Social Security number is already being used. It may not be discovered until the child applies for student loans. It can’t always be prevented because criminals sometimes make up numbers before they’re assigned.

4. Taxpayer Identity Theft

Sometimes criminals uses the Social Security number to file a tax return and steal your tax refund or tax credit. You may not able to e-file your taxes because someone already filed using that Social Security number. You may get the IRS notices about the activity you did not do or records showing you worked somewhere you didn’t. Filing taxes early can help prevent this. Some states give extra security PIN to do the transactions.

5. Medical Identity Theft

Using someones identity to get the health care services is called medical identity theft. It is dangerous because it can mix up the medical histories so doctors treat based on the wrong information. Charges on your insurance statements that you don’t recognize can mean someone used your benefits. Report it to your insurance and doctors to correct records.

6. Account Takeover

Criminals use personal data to access your financial accounts, then change passwords or addresses so you can’t access them anymore. Your bank says there was an address, email or password change that you didn’t request.

7. Criminal Identity Theft

Criminal identity theft happens when someone gives police your name and address instead of their own when arrested or investigated. They often use a fake ID with your information.

1. Freeze your Credit

Contact to the Equifax, Experian, and TransUnion to freeze your credit reports. This will prevents new accounts from being opened in your name. Freezing the credit or debit card is totally free.

2. Protect your Social Security Number

Don’t carry your Social Security card with you. Only provide the number when absolutely necessary. Shred any documents containing your Social Security number.

3. Watch for Phishing Scams

Do not respond to the emails, texts, or calls requesting personal information. Even if they appear legitimate, contact the company directly. Use a verified website addresses and the phone numbers.

4. Use Strong Passwords

Create different, complex passwords for each account. Use a password manager app to store them securely. Add extra login steps like fingerprint or facial recognition.

5. Set up Account Alerts

Ask your bank to send text/email alerts for account activity. Get notified when money is withdrawn or spent. This allows you to quickly identify unauthorized transactions.

6. Secure your Mail

Use a locking mailbox and retrieve mail promptly. Sign up for the USPS Informed Delivery to preview the incoming mail. This helps you identify if any mail has been stolen.

7. Shred Everything

Shred or crush the credit card offers, bank statements, and any documents with your personal information. Do not throw these items away without shredding or crushing it first.

8. Use Digital Wallets

Apps like Apple Pay and Google Pay use encrypted data. This will protects your card numbers when shopping online or in the stores. Digital wallets are more secure than the most physical cards.

9. Lock Devices

Use new passcodes, fingerprints, or facial recognition to lock your phones and the laptops. Avoid doing banking or providing personal information on the public WiFi and unsecured websites. Keep the devices physically secure to prevent the unauthorized access.

10. Check Credit Reports

Get free annual credit reports from annualcreditreport.com. Review reports carefully for any accounts you didn’t open. Signs of identity theft may appear on your credit report first.

11. Review Statements

Read bills, explanations of benefits, and financial statements line-by-line. Call providers if you notice any unfamiliar charges or activity. Missing bills could indicate identity theft, so follow up promptly.

1. Lost Wallet

If your wallet is gets lost or stolen, anyone who will finds it can access all the your cards, IDs, and the personal information inside. Do no’t carry unnecessary items like your Social Security card into your wallet.

2. Stolen Mail

Thieves may steal mail from mailboxes looking for the bank statements, credit card offers, and the other documents with personal data. Use a locking mailbox and pick up mail promptly to prevent this attack.

3. Public WiFi

On the public WiFi network hackers can potentially see everything you do online including the banking, shopping, and emails. Avoid doing the sensitive activities onto the public WiFi.

4. Data Breaches

Hackers will break into companies databases and may steal customer information like the names, birth dates, Social Security numbers, etc. Monitor your accounts closely as your information may already be compromised.

5. Phone Number Theft

Bad actors transfer your phone number to a new device they control, diverting your calls and texts. Set up extra security like PINs and passwords on your mobile account.

6. Phishing Scams

Fake emails or calls appear to be from the legitimate companies trying to trick you into the revealing personal information. Never give out the info unless you initiated the contact.

7. Card Skimmers

Devices illegally installed on ATMs, gas pumps, etc. that secretly copy your card’s information when you use it. Check for tampering and use chip readers when possible.

8. Phone Scams

Callers impersonating companies or the government to pressure you into giving personal or financial details. Legitimate entities won’t demand info this way.

9. Shoulder Surfing

Thieves look over your shoulder in public places to glimpse passwords, card numbers, etc. as you enter them. Shield yourself when entering sensitive info.

10. Malware

Viruses that log your keystrokes allowing hackers to capture the passwords, account numbers, and the other data you type. Use a antivirus protection and avoid the suspicious links and the attachments.

Go to the IdentityTheft.gov website to report the identity theft and get a recovery plan. This is the official Federal Trade Commission website for the identity theft victims.

1. File a police report
2. Contact the U.S. Postal Service if mail was stolen
3. Notify the three major credit card bureaus where you card is issued.

For the tax related identity theft call the IRS hotline at this number 800-908-4490. For a stolen credit or debit cards contact your card issuer directly. For the medical identity theft notify your health insurer and the any involved medical providers.

Identity theft services will let you know if the your information has been used anywhere or exposed into the data breach. If you are the victim then they will guide you through resolving the issue and may give the costs. Check if you have an identity theft benefit or discount you are not using before paying for the service.

If you decide to buy top 3 options include :

• IdentityForce
• IDShield
• LifeLock

Identity theft can have devastating consequences on your finances and credit. Hacker will only need basic personal information like your name and Social Security number to commit fraud in your name. Protect yourself by safeguarding sensitive data and monitoring your accounts regularly and acting quickly if you suspect any unauthorized activity. While identity theft protection services can provide monitoring and resolution assistance taking preventive steps yourself is crucial to minimizing your risk and potential damages.

How do a identity thieve will get your personal information?

They can steal your wallet or mail. They can also trick you into giving out the information through Phishing scams. Or they can hack into the databases that store your personal data.

What can identity thieves will do with your personal information?

They can open new credit cards or bank accounts in your name. They can file fake tax returns to get your refund. They can use your health insurance or give your name to the police if they get arrested.

How can I protect myself from the identity theft?

Freeze your credit reports, Secure your documents and mail, Use strong passwords, Watch out for scams, Monitor your accounts closely for anything suspicious.

What should I do if I am the victim of the identity theft?

Go to IdentityTheft.gov or your country’s cybercrime reporting website right away to report the crime and to get a recovery plan. You may also need to file the police report and contact the credit card bureaus and companies that were impacted from this.

Should I pay for the identity theft protection service?

It’s your choice. Check first if you have free monitoring through work, insurance or credit cards. Paid services can provide added monitoring and help resolving issues.