The Invisible Crime: 6 Tips To Prevent Identity Theft From Ruining Everything

identity-theft

Imagine you wake up one day and there’s an arrest warrant out for you—for a crime you didn’t commit. It’s a nightmare scenario, and yet it’s not entirely implausible. 

What is Identity Theft?

Identity theft is when a bad actor steals someone’s personally identifiable information and uses it for fraud. The identity thief can use the information to apply for loans or credit cards, file taxes, pay medical bills, or commit a crime under a false name. ID theft has only grown more and more prevalent as people keep their sensitive data online. In 2021, there were nearly 1.4 million reports of identity theft received by the Federal Trade Commission. Reports of the crime spiked during the pandemic as bad actors used fraudulent identities to gain unemployment benefits and pandemic assistance.

How Does it Happen?

Thieves acquire personal information such as Social Security numbers, bank account information, addresses, phone numbers, birthdays, driver’s license numbers, insurance information, and credit card numbers. 

 

There are various methods bad actors can obtain this information, including stealing mail, looking over your shoulder at an ATM, hacking your computer through malware, or conducting social engineering schemes to convince you to reveal personal information. They may impersonate your bank, the IRS, or a hospital over a phishing email, or gather personal information about you through your social media page. 

The Lasting Impact of Identity Theft

Depending on what the stolen identity is used for and how long the scheme goes on undetected, it can have a devastating impact on the victim’s finances, credit report, criminal record, and personal life. Identity theft can ruin your credit score, and many victims may not realize that their identity has been stolen until they try to buy a house or car. Some people are even forced to declare bankruptcy. The crime could leave your insurance and medical care compromised if the thief left large medical bills, driving up your health insurance rate. In some cases, victims resort to changing their name, which can be a tedious process.

How Can You Prevent Identity Theft?

The number one way to prevent identity theft is by securing your personally identifiable information.

 

1.) Shred any documents that have identifying information on them—credit card statements, bills, bank statements, etc.

2.) Read privacy policies closely, and opt out of data sharing if the option is available.

3.) Keep track of all your usernames and passwords and change them periodically. Never use the same login info across multiple accounts.

4.) Be suspicious of unsolicited emails or texts asking you to click links, reset your password, or confirm personal information.

5.) Don’t post any sensitive data online, including your birth date, address, email, or Social Security number.

 

The best way to protect yourself from identity theft is to use a digital privacy service like Hush. We search the Internet for any trace of information that would make you vulnerable to bad actors. We find, flag, and remove sensitive information, eliminating threats and keeping your data safe.

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