With most of our transactions happening online and the vast majority of our records accessible through Internet-based services, it’s no wonder identity theft is rampant. Below are four types of identity theft and how to prevent them.
Existing account identity theft. Thieves will hack into your existing bank or credit accounts and either steal your cash or use your available credit to make purchases or cash withdrawals. Protect your personal information by never giving out your bank account number to anyone except an authorized representative of a business or other professional. If you doubt someone is who they say they are, hang up and call the business directly.
New account identity theft. Thieves will open new accounts in your name using your Social Security number and begin to draw on the lines of credit or loans to acquire as much as possible before being caught. Never give your Social Security number out to anyone except a trusted professional, such as an accountant, a human resources manager, or another similar person.
Tax identity theft. Thieves will not hesitate to file a fraudulent return on your behalf and claim your refund. Unlike with credit accounts, you will not know until you go to submit your legitimate tax return and the IRS rejects it.
Employment identity theft. Some people will resort to stealing your Social Security number to get a job, and, to your surprise, you will owe taxes on the money they earned.
It’s vital to protect yourself from identity theft. Many credit cards offer free alerts so you can stop unauthorized transactions and theft. Consider investing in a paid identity monitoring service, which looks at your credit and finances. Protect your personal information. Never give it out over the phone to out-of-the-blue callers. Secure documents with sensitive information, and shred them when you no longer need them. Check your credit reports regularly. Call us today so we can work with you on finding the best product that fits your budget to protect yourself from and prevent identity theft.
