What is Identity Theft and How to Prevent It?

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Identity theft is when someone uses your identity to open an account, make a purchase, get a tax refund or do anything else as you. They usually accomplish this by gaining access to your Social Security number or other form of personal information.

These criminals will use your financial information to apply for credit, make purchases, file taxes or even get medical services as you. These criminals can gain access to your information through numerous means which makes it important to be vigilant and protect your personal information.

Identity thieves can take your information both online and through physical theft. Cyber theft usually occurs through spyware or spying software. Hackers usually gain access to your information with spyware through clickable links in emails, pop-up ads, or web pages. It is important not to click on any link from source you don’t trust.

Once a spyware software is on your computer it usually operates without your knowledge and the user has complete access to your computer. They can see everything from your browser history to your individual keystrokes. They can see when you are checking out on a website and entering your credit card information.

Hackers can either use your information for themselves or turn around and sell it to the highest bidder. They can use the knowledge they have gained from your computer to try and infect your contacts computers and steal their information. These thieves may even try and take things up a notch and commit tax-related fraud.

Check out these tips to prevent thieves from stealing your identity:

Tips for Preventing Identity Theft:

• Never share your Social Security Number (SSN) with anyone unless absolutely necessary. Memorize your SSN and never carry your card with you.
• Secure your usernames and passwords, debit/credit card information, bank account numbers and driver’s license information. Identity thieves can use this type of information against you.
• Stay on top of your credit card and bank account activity. If you see anything unusual, call your bank immediately.
• Know your payment due dates. If a bill doesn’t show up in the mail when you expect it, investigate. This is the same for any type of financial information statement. Identity thieves have been known to steal mail out of the mail box.
• Be careful of how you browse the internet and the steps you take to get there. Only use trusted sources and reputable browsers, and send unwanted emails directly to a spam folder.
• Be careful downloading files from the internet, they could be infected with spyware.
• Purchase and install a trusted anti-virus software such as Norton Antivirus, McAfee, Sophos, and Trend Micro Antivirus are all good options to use on your computer at home.
• Use public computers and wi-fi with extreme caution. Use a virtual private network (VPN) to encrypt your computer code and protect your information.
• Store personal information in a safe place, like a safe deposit box at a bank, or a fireproof safe.
• Shred receipts, credit offers, account statements, and expired credit cards in order to prevent dumpster divers from accessing your personal information.
• Review your credit report once a year to check that no new accounts were opened without your permission.

What to do if your identity has been stolen

1. Call the businesses where the fraud occurred.
2. Get copies of your credit report and place a fraud alert.
3. Report identity theft to the Federal Trade Commission.
4. File a police report.

Anyone can become a victim of identify theft. If you are worried that your identity has already been stolen visit IdentityTheft.gov. This is the federal governments resource to help you report and recover from identity theft.