Identity theft is when someone steals personal information from people, living or dead, in the intention of making a profit. Most identity thefts are motivated by financial gain for the fraudster.
The Most Common Types Of Identity Theft
All these platforms and applications are attempting to obtain bits and pieces personal information in order to register with us. Many companies and applications make it a priority to protect sensitive information. Some aren’t as authentic. For fraudsters to commit, it is crucial to have vital information like phone numbers, social security numbers and signatures. Here are some examples of identity theft that are commonly used.
Medical identity theft – When a fraudster pretends to be someone else in order to obtain medical services, this is known as medical identity theft. According to statistics, the medical field was the subject of the second highest data breaches in 2018, according to Statistics. (Hamilton 2021).
Tax identity theft – This is a type of identity theft that involves getting access to private information about a person and using it to obtain tax returns. This type of theft is possible using pins, passwords, or user IDs. After the return has been approved, the money is transferred to the account of the imposter.
Social security theft – This number, along with other personal data like pins and passwords can be dangerous when it is used by fraudsters. This information is used to open numerous fraudulent accounts.
Child identity theft – Did know that fraudsters could steal your child’s personal data to open credit accounts and file taxes? This is because victims are only aware of the theft once they begin working and have to open accounts.
Criminal identity theft – This is a theft that is mainly committed by criminals. To ensure that the crimes committed are recorded on the victim’s records, they steal private information such as photo IDs and social security numbers. These cases are not common, but they do occur.
Estate identity theft – This applies to deceased people whose personal information was used to open accounts and steal money. When fraudsters are aware that the victim’s death has not been documented, rampant cases can occur.
Synthetic identity theft – This is the most popular type of theft in the U.S. This type of theft involves combining fake and real information from children, the dead, and other victims to create false identities. These identities get data from many people and use their credit to open loans or open accounts.
How to Prevent Identity Theft ?
Protecting yourself against such potentially dangerous events is crucial, regardless of whether you are directly affected. Here are some smart ways to protect sensitive information and keep you identity safe.
Freeze your credit reports
This option will require that people contact each of the main credit bureaus to freeze their credit accounts. If you ever wish to reverse this decision, the bureaus will provide you with a pin. Without providing the required personal information, no one, not even the account-holder, can open a credit card account. This is especially beneficial for senior citizens and children.
For each account, create different passwords and pins
In the event of a data breach, it is helpful to have different passwords and pins for each account. If one account is compromised, all of your accounts will remain safe as they have unique credentials. Strong passwords with at least 15 characters make it more difficult for fraudsters access your account, making it less vulnerable to being hacked.
Enable multi-factor verification
This extra step allows you to protect your password in case it is stolen. Before accessing an account, verification from your device is mandatory. It should be biometric identification, or a different password than the one you used to log in initially. This feature should be enabled for social media accounts and bank accounts, it is obvious.
Regularly review bank and credit card statements
This will allow you to quickly identify any unusual activity on your account and prevent any damage. Report any delay or complete lack of bank statements immediately. Fraudsters might have rerouted the address to theirs in order to prevent you from accessing them.
Before disposing of personal information, shred or burn it.
“Dumpster diving” is the oldest and most effective way for thieves to access private information from people. Avoid falling for these easy traps by shredding and burning any documents you have before you dump them. You can make your shredding paper more efficient by separating it into four or five different pieces and throwing them in separate dumpsters.
Conclusion
There’s nothing to be embarrassed about where identity theft is concerned. Even celebrities aren’t immune to it. Remember to file a police report the moment you suspect that identity theft has occurred. You’ll also need to block all your accounts so that the relevant authorities can immediately discard any crimes committed under your stolen identity. Hopefully, the simple tips we provided will help you keep your sensitive personal data safe in 2021. Get ms office service at www.office.com/setup