what are some of the ways to reduce your risk of becoming a victim of identity theft? course hero

by Margie Hackett Sr. 8 min read

To reduce your chances of being an identity-theft victim, you should also use different passwords for everything and use a program to monitor your financial transactions. With so much hacking going on these days, it's more important than ever to have different passwords for all your accounts.

Place strong passwords on your credit card, bank, and phone accounts.
...
Keep your computer and your stored personal information safe.
  • Update your virus protection software regularly.
  • Do not download files, especially application and “zip” files, sent to you by anyone, unless it's a file you're specifically expecting.

Full Answer

What is identity theft and how can you prevent it?

Apr 27, 2016 · Immediately place a fraud alert with any one of the three national credit bureaus -- Experian, Equifax, and TransUnion. When you place a fraud alert at any one credit bureau, it will notify the other two for you. A fraud alert can make it harder for an identity thief to open more accounts in your name.

What are the best ways to protect your identity?

What are some of the ways to reduce your risk of becoming a victim of identity theft? Some ways to reduce your risk is to secure your personal records, protect your personal information online, limit what you carry and protect your social security number.

What are the steps to resolve identity theft?

Nov 09, 2016 · A way to reduce your risk of identity theft by not giving out your ssn. Also rip up your mail when your finished with it. You could avoid it by checking your accounts often. No, I don’t feel comfortable buying items online because sometimes the website could be a scam to get your info. 2. Every day you are bombarded by numerous ads.

Will I ever be a victim of ID theft?

Pre-approved credit offers received in the mail are a relatively simple way for an identity thief to compromise you. Make sure all offers are shredded, and consider adding yourself to a pre-approved credit offer opt-out list by calling 1-888-5-OPTOUT (1-888-567-8688). Be on guard when using the Internet.

What are 3 ways you can help to protect yourself from being a victim of identity theft?

10 Ways To Protect Yourself From Identity Theft. ... Destroy private records and statements. ... Secure your mail. ... Safeguard your Social Security number. ... Don't leave a paper trail. ... Never let your credit card out of your sight. ... Know who you're dealing with. ... Take your name off marketers' hit lists.More items...

What are 5 possible steps you should take if you become the victim of identity theft?

File a claim with your identity theft insurance, if applicable. ... Notify companies of your stolen identity. ... File a report with the Federal Trade Commission. ... Contact your local police department. ... Place a fraud alert on your credit reports. ... Freeze your credit. ... Sign up for a credit monitoring service, if offered.More items...

What things do you do now that put your identity at risk?

20 Mindless Ways You're Putting Your Identity at Risk Every DayYou Don't Report a Missing Driver's License. ... You Pay a Security Deposit Sight Unseen. ... You Don't Lock Your Mailbox. ... You're Clicking Email Links. ... You Don't Password Protect Your Cellphone. ... You Post Your Whereabouts on Social Media.More items...•Jul 25, 2018

What to do if you think you were a victim of identity theft?

Report identity (ID) theft to the Federal Trade Commission (FTC) online at IdentityTheft.gov or by phone at 1-877-438-4338. The FTC will collect the details of your situation....Report Identity TheftDifferences in ID Theft Reporting. ... When to Report ID Theft to the Police. ... Report Specific Types of Identity Theft.More items...•Dec 14, 2021

What is identity theft?

Identity theft, which involves using another person's credentials and personal information (name, address, social security number, driver's license number, credit card and bank account numbers, etc.), is one of the fastest-growing crimes in today's information-laden world. ID thieves usually use this information to access the victim's money, ...

How to report identity theft?

If you're a victim of identity theft, report it to your local police department. You may need a copy of the police report to submit to creditors as proof that you were a crime victim. Contact the fraud departments of the three credit bureaus and put a fraud alert on your account; this will require creditors to contact you before opening a new account in your name or making changes to your existing accounts (such as sending your bank statements to a new address). Close the accounts that have been compromised.

How to tell if a message is phishing?

Phishing messages can often be detected by the fact that links go to a different URL from the one that appears in the message. For example, if you hover over "www.ebay.com" in the message, you might see that the hyperlink actually takes you to www.scammersite.com/ebay.

How to protect personal information on computer?

If you have any personal or financial information stored on your computer, use Windows EFS or a third-party encryption program to protect it. Update your virus software regularly and use a firewall to prevent intrusions. Keep your operating system and applications updated, especially with critical security patches.

How many digits are in a pin?

PINs are often limited to four numeric digits. If you have a choice in creating the PIN, make sure the numbers are random and not easy to guess (for example, don't use your street number or the last four digits of your SSN).

How many characters are in a password?

A good password is long (at least eight characters; 14 is better) and complex, containing a mixture of upper- and lowercase alphabetic characters, numeric digits, and symbols and not containing any words found in the dictionary. PINs are often limited to four numeric digits.

What information is on a check?

Checks also contain a huge amount of information for scammers: your name, address, and phone number, and many people have their driver's license number printed on the check . And of course your bank account number, the bank's routing numbers, etc., are also printed on the check.

How to minimize risk of identity theft?

Five Ways to Minimize Your Risk for Identity Theft. Most people are aware of the crime that has become known as identity theft. Whether you’ve read about it, heard stories about it on the news, or you’ve been a victim of it yourself, it’s an increasingly prevalent crime that can cause major disruptions in people’s lives. ...

What is identity theft?

With identity theft, someone wrongfully obtains and uses another person’s personal data in a way that involves fraud or deception, typically for economic gain.

How to keep credit card information safe?

Keep a listing of all credit card information, including contact numbers, in a secure place in case you lose your wallet or purse. Treat your mail and trash carefully. If your mailbox isn’t lockable, try to retrieve it relatively quickly after delivery, and don’t put outgoing mail in the mailbox.

What to do if your health insurance number is used?

If the number is used on your health insurance card, request that another number be used to identify you. Be mindful of what’s in your wallet or purse. Consider what information a potential thief could obtain based on what’s in your wallet or purse, and pull out items that might compromise you.

Is there a foolproof way to protect yourself from identity theft?

While there is, unfortunately, no foolproof way to guard yourself against identity theft, there are common sense steps you can take to minimize your risk (this list is a compilation of suggestions from the Better Business Bureau, US Dept of Justice and the Federal Trade Commission): Protect your Social Security number.

What is two factor authentication?

Whenever possible, opt-in for two-factor authentication on your accounts. This process provides an additional layer of security for your login information. When you try to gain access to your account, two-factor authentication requires you to provide another piece of data, such as entering a code sent to your mobile device, clicking a link emailed to you or answering a security question.

What to do if you see something you don't recognize?

Regularly review copies of your credit reports and bank and credit card statements for suspicious activity . If you see items you don’t recognize, such as unfamiliar charges, collections or accounts, dispute them with the company immediately.

What is credit card skimming?

Credit card skimming is a type of theft that uses a small device on an ATM or gas station pump to steal and store details from your transaction. Thieves may place skimmers over where you swipe or insert your card or use small cameras to record your PIN. Before using your credit or debit card at the ATM or gas pump, look for cameras, loose parts or anything that does not belong there.

What is a credit freeze?

A credit freeze restricts access to your credit file and is free. A credit lock also blocks access to your credit file, but it may come with a monthly fee.

Is it a scam to call someone asking for your social security number?

It is most likely a scam.

Can you reuse the same password on multiple websites?

Don’t use your birthday, birthplace, family members’ names or other easily accessible personal information in your password. Never reuse the same password on multiple websites.

How to prevent identity theft?

But there are 11 things you can do to make it much harder for identity thieves. 1. Freeze your credit.

What are the types of identity theft?

7 types of identity theft and the warning signs. Once a criminal has your info, here are common ways it may be exploited: 1. Credit identity theft. Credit identity theft happens when a criminal uses your personal information, such as birthdate and Social Security number, to apply for a new credit line.

What are the warning signs of criminal activity?

Warning signs: An email, letter or text from your financial institution that refers to an action (like a password or email change) or transaction you don't recognize. 7.

How can fraudsters learn a password?

Fraudsters can learn a password just by watching your fingers as you key it in. The information on your credit card can be photographed with a smartphone while you shop online in a public place. A business might leave sensitive information where people can see it.

When will the credit report be free?

The three major credit reporting bureaus are giving consumers access to a free credit report weekly until April 20, 2022. Check to be sure that any accounts in forbearance or deferment are being reported properly, and to watch for signs of fraud. You can also sign up for a free credit report and score from NerdWallet to receive alerts when there are changes.

How to use a digital wallet?

Use a digital wallet. If you’re paying online or in a store, use a digital wallet, an app containing secure, digital versions of credit and debit cards. You can use it to shop online or at a compatible checkout terminal. Transactions are tokenized and encrypted, which makes them safer.

Why is it not always preventable to use a Social Security number?

It is not always preventable, because sometimes criminals make up and use a Social Security number even before it's assigned. 4. Taxpayer identity theft. Sometimes fraudsters use a Social Security number to file a tax return and steal your tax refund or tax credit.