How to Protect Yourself From Identity Theft

Protecting yourself and recovering from identity theft can be expensive and damaging to a victims financial health. According to the Javelin Strategy, identity theft ensnared 15 million U.S. consumers in 2021. When someones identify it stolen, it can take months or years to recover from.

Identity thieves have established many different ways to gain access to your information and use it illegally. They do “spoofing” by using phone numbers, or “phishing” by using email addresses, or “smishing”. They make themselves look legitimate by impersonating a government official or well-known company representative.

Ideally, they are targeting the elderly, or people without strong password protection who are unaware of all of the scams happening today. No matter your age though, everyone is susceptible to the cunning tactics of identity thieves.

Luckily, there are steps everyone can take to gain protection against fraud. Let’s look at a few key things you can do to watch for and protect yourself from identity theft.

Watch Your Credit Score

Check your credit score often online using free sites like Credit Karma. As you monitor your credit score, watch for any major drops. You can also get an annual report and look through them for suspicious activity. Take the time to review your monthly credit card bills as well for any unknown charges. Checking periodically is protecting yourself from identity theft.

Use Multi-Factor or Two-Way Authentication

When you are on any platform or website that deals with sensitive information like your financial information or personal information, be sure to use the multi-factor authentication.

If you can, use your biometrics like your fingerprint or face scan. If you cant you biometrics, use multiple different passwords, pins, and security questions to make it difficult for a hacker or scammer to access any of your accounts.

Create Strong Passwords

Passwords are the first barrier between you and a hacker. Do not make yourself an easy target by using identical passwords for multiple accounts. Instead, use passwords that are both strong and unique, using a series of numbers, letters, and symbols. Try not to use your name or other common information about yourself in the passwords.

If you have a hard time remembering all the passwords you use, try using a free password vault or service that allows you to sign in with a master password. This will help you to safety store all of your unique passwords.

Use Secure Wifi with a VPN

When you use public Wi-Fi, you may be putting your information at risk. It is important to make sure when using any wifi you choose to use a Virtual Private Network (VPN). This helps to keep your information safe from other people on a public network.

Block Spam Calls

Identity theft can also start when a scammer tries to impersonate an official person and gain your personal information. Do not pick up calls from numbers you do not know. You can also put your number on the No Call List created by the Federal Trade Commission by visiting donotcall.gov.

Keep An Eye On Your Paper Trash

Always remember to shred old documents that contain personal information. Most criminals in today’s world use phones and internet as their main way of stealing information, but you don’t want to forget about any that may be dumpster diving and finding personal information from your old files. Shredding old papers helps you as your protect yourself from identity theft.

Do Not Share Personal Information

Be wearying of giving people sensitive information about yourself, like your bank account numbers, social security number, or passwords. Keep your passwords safe and monitor what personal information you allow on the internet and social media.

Sign Up for an Identity Theft Protection Service

Identify theft services like LifeLock monitor your personal information online and alert you of any weird charges or suspicious activity. While these do come at a cost, they will help you as you try to ensure the safety of your identity.

Doing these things are a great start to protecting yourself from becoming a victim of fraud. Always remember to never give away personal information about your credit report, credit score, debit cards, card numbers, or online banking. We know that with these tips you can begin protecting yourself from identity theft.

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This article is for educational purposes only. WeStreet Credit Union makes no representations as to the accuracy, completeness, or specific suitability of any information presented. Information provided should not be relied on or interpreted as legal, tax or financial advice. Nor does the information directly relate to our products and/or services terms and conditions.