How to Help Prevent Identity Theft

In an increasingly digital world, protecting your identity has never been more important. Identity theft can lead to financial losses, damaged credit, and even legal troubles. While no one can promise that they can stop your identity from being stolen, the good news is that there are proactive steps you can take to safeguard your personal information. Here’s a guide to help you prevent identity theft and keep your information secure.

Strengthen Your Passwords

A strong password is your first line of defense against cybercriminals. Use unique passwords for each account and make them complex by including a mix of letters, numbers, and special characters. Avoid using easily guessed information like birthdays or common words. Consider using a password manager to generate and store secure passwords and consider changing your passwords every 6-12 months.

Enable Two-Factor Authentication (2FA)

Two-factor authentication adds an extra layer of security to your accounts. With 2FA, you’ll need to provide a second form of verification, such as a code sent to your phone or email, in addition to your password. This makes it harder for hackers to access your accounts, even if they have your password.

Monitor Your Financial Statements

Regularly review your bank, credit card, investments and retirement account statements for unauthorized transactions or strange activity. Early detection can help you take swift action to minimize or even reverse damage. Many banks, credit card companies, and even credit reporting agencies offer monitoring and alert systems that notify you of suspicious activities or potential fraud.

Monitor Your Credit Report

Regularly check your credit report for unauthorized accounts or inquiries. You’re entitled to one free credit report annually from each of the three major credit reporting agencies (Experian, Equifax, and TransUnion). Consider placing a fraud alert or credit freeze if you suspect your information has been compromised.

Protect Your Social Security Number

Once upon a time, your credit card was the key target for identity thieves, however, with the modernization of credit card security (that little chip in your card), now Social Security number (SSN) through data breeches is the key that thieves seek. Keep your SSN card in a secure place and avoid carrying it in your wallet. Be cautious about sharing your SSN, only providing it when necessary and only to trusted entities.

Be Cautious Online

Cybercriminals often use phishing scams to steal personal information. Avoid clicking on suspicious links or downloading attachments from unknown senders. When shopping online, ensure the website is secure by looking for “https” in the URL. Also be aware of public Wi-Fi networks as they are often unsecured, making it easier for hackers to intercept your data. Avoid accessing sensitive accounts or entering personal information while connected to public Wi-Fi. Use a virtual private network (VPN) for added security.

Do not reply to emails or messages from unknown or unexpected senders, especially if they ask for personal or financial information. Scammers often create emails that look like they are from legitimate companies. Instead of clicking on links in these emails, go directly to the company’s official website by typing the URL into your browser or using a trusted bookmark. This ensures you are interacting with the legitimate organization.

Smishing is the new Phishing

Be aware of "smishing" (SMS phishing), a tactic where scammers send fake text messages pretending to be from legitimate organizations, urging you to click on malicious links or provide personal information. Also be aware of the newer smishing technique, often called Executive Impersonation, where the scammer attempts to convince you that your boss needs something taken care of urgently and uses that text to scam you or your company. As we become more wary of online scams, smishing has become more common. Always verify messages independently by contacting the individual (i.e. your boss) or organization directly through official channels.

Secure Your Devices and Documents

Keep your devices secure by installing reputable antivirus software and keeping it up to date. Enable automatic updates for your operating systems and applications to protect against the latest security threats. Lock your devices with passwords or biometric authentication. Also keep your important documents in a secure place and shred any documents with your personal or sensitive information (information that can help a thief identity your or your accounts).

Educate Yourself and Your Family

Knowledge is one of the best defenses against identity theft. Stay informed about common scams and teach your family members, especially children and elderly relatives, how to recognize and avoid them.

By taking these steps, you can significantly reduce your risk of identity theft. Remember, vigilance and proactive measures are key to keeping your personal information safe in today’s digital landscape.