Protecting Yourself from Identity Theft
In today’s digital world, identity theft has unfortunately become a common part of everyday life. While it can feel overwhelming, a few simple habits can greatly reduce your risk.
Identity theft occurs when someone steals your personal information—such as your Social Security number, bank account information, or credit card numbers—to commit fraud. Fraudsters no longer rely solely on sophisticated technology. They often exploit everyday vulnerabilities, including discarded mail, weak passwords, public Wi-Fi networks, or oversharing on social media. Staying aware of these risks is the first step in protecting your personal information.
Your bank accounts are often the first target for identity theft. Enhancing your daily banking practices can make a meaningful difference.
- Use strong, unique passwords for online banking and update them regularly.
- Turn on multifactor authentication (MFA) to add an extra layer of security each time you log in.
- Monitor your accounts frequently. Mobile banking apps make it easy to spot unusual or fraudulent activity early.
- Be cautious with links sent through email or text. Legitimate banks will never ask for personal information through unsolicited messages.
- When unsure, contact your bank directly.
Even if your bank accounts appear safe, your credit profile can still be at risk.
- Credit monitoring services track changes to your credit report and alert you to new accounts, credit inquiries, or suspicious activity.
- Placing a fraud alert on your credit file requires creditors to verify your identity before opening new accounts.
- For maximum protection, consider a credit freeze, which prevents new credit from being issued without your approval.
If you suspect identity theft, take action immediately:
- Contact your bank or credit card company. They can freeze accounts, assist with unauthorized charges, and guide you on next steps.
- Place a fraud alert or credit freeze with the three major credit bureaus.
- Report the theft to the Federal Trade Commission (FTC) to receive a personalized recovery plan and documentation often needed for police reports.
- Keep detailed records of all calls, notices, and reports. Organized documentation helps speed up resolution.