Understanding Identity Theft

Identity theft has become a serious risk in today’s digital age. It involves someone stealing your personal information and using it to commit fraud. Such as gaining access to your financial accounts, opening bank and credit card accounts, filing tax returns and more. This can lead to significant financial losses and emotional distress. By being proactive and informed, you can safeguard your identity from potential fraud.

How to Prevent Identity Theft

There’s various actions you can take to protect your identity. You can do this all on your own or sign up for a identity protection service who will do this for you and ensure your identity is safe from thieves. Below are various actions you can take.

Freeze your credit

You can freeze your credit on all major credit bureaus: Equifax, Experian and TransUnion. This will limit access to your credit reports which prevents applications for new credit accounts such as credit cards and loans. Just don’t forget to unfreeze your credit when applying for credit.

Use strong passwords and add Two-factor authentication (2FA)

Always use strong passwords using a combinations of letters, numbers and special characters. There are free password generators online that will help you with this. You should also never use the same password twice. Just make sure to save your passwords somewhere safe or use a password manager to store them for you. Another step is to use two-factor authentication when it’s offered. Two-factor authentication is an authentication method in which a user is granted access to a website or application only after successfully presenting two pieces of evidence to an authentication. For example after typing in your password you’ll receive a code by text or email to verify it’s you.

Be alert to phishing attempts

Phishing is an attack that attempts to steal your money, or your identity, by getting you to reveal personal information or passwords. A typical phishing attack, a scammer sends a message – it could be over email, social media, text or phone call – that might seem like it is from a trustworthy person or company. The message might suggest there is a problem or that someone needs help and that the recipient can take action by clicking a link. That link sends the user to a fake website and captures personal information or secretly downloads malware onto their device. The best ways to protect yourself are to never provide your personal information or passwords in response to any unsolicited request. Whether it’s over the internet or over the phone. If you believe the contact may be legitimate, contact the financial institution yourself.

Implementing Robust Fraud Protection

One the most effective ways to defend against identity theft is to utilize fraud protection services. Such services monitor will your credit reports for any unusual activity and alert you immediately. This proactive monitoring can be a lifesaver, providing you with peace of mind knowing that any suspicious actions will be addressed promptly.

Recommended Identity Theft Protection Service: IdentityIQ

If all of the above sounds overwhelming to do yourself, you can use an identity theft protection service to do it for you. Our top recommendation is IdentityIQ, they offer some of the industries best identity and credit protection services at an affordable price. With them you’ll receive the fastest fraud alerts in the industry. If your identity has been stolen, their 100% U.S.-based identity restoration specialists are here to personally help you every step of the way. You also receive $1 million in identity theft insurance to cover you for lost funds and out-of-pocket expenses. They’re currently offering a 7-day trial for $1, there’s no obligation and you can cancel at anytime. Click the link below to learn more and get their offer.

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