Identity theft has existed for years, but new technology has increased the prevalence of this crime. Identity fraud affects almost everyone – the young and the old as well as those who are dead. As the effects of identity fraud are severe especially for your finances, you need to take precautions to mitigate the effects of identity fraud. The most basic way of stopping identity theft is to ensure that the thieves do not have access to your identity or personal information by cutting all paperwork containing any personal information such as birthday, address, debit card numbers, social security numbers, and so on. Another way of protecting yourself from identity theft is to avoid revealing personal information and passwords over email. Banks will never ask for your password and any phone call asking you for this information is likely to be for identity theft. In order to spot identity theft as soon as possible you need to check your bank reports. This will help you notice any discrepancy as soon as it occurs enabling you to notify the relevant officials and ending the theft of your identity. Even when you take precautions, there are chances of identity thieves obtaining your PINs. To avoid this, you should change your password frequently and never use the same password for more than one account. If your credit card is stolen, report this immediately to the credit card issuer as well as the police. This will ensure that the stolen credit card cannot be misused. When you relocate, ask the post office to forward all mail to your new address. This will ensure that mail containing sensitive personal information does not fall into the hands of identity thieves. While online transactions are convenient, they can lead to identity theft. To avoid this make sure that you use only secure sites for online transactions. Since online purchases can easily be hacked, you need to install firewalls in your computer. This is important if you use your computer to make online transactions. Identity theft is here to stay and you need to take proper precautions to protect your assets and credit rating.
December 15, 2014