- HOW IT WORKS?
- Credit Score & Report
- Credit Bureaus
Identity Theft Protection: Overview
When somebody uses your information related to your identity without your authorization either in committing a crime or other offenses like obtaining credit or loans. Identity theft protection services include catching identity fraud and theft when it has occurred and repair the damages caused.
Protect your credit card
What is Identity Theft?
Identity theft is used as a method to obtain credit and other benefits in other person’s name or to gain a financial advantage by intentionally or planning to use someone else’s identity that resulting to loss or disadvantage to other person. It is a crime, obtaining information related to personal or financial of another person for purpose of assuming person’s identity or name to make purchases or transactions. Obtaining your Debit and credit information and using it even without your notice, Address proof misuse and any online banking fraud.
Popular types of Identity Theft:
Due to increase use of online banking, debit and credit cards there are lot of chances of being your identity theft unlike in olden days where every transaction used to happen through a lot of paperwork and physical presence. Some of the popular identity theft includes.
- Criminal identity theft – It happens when somebody posing as another to escape the arrest for a crime.
- Financial Identity theft- It happens when somebody using identity of another’s to obtain any goods and services.
- Commercial/business identity – In this instance, when somebody obtains and uses credit in somebody’s business name.
- Identity cloning – It happens when somebody using another’s information to be used in daily life to assume on his or her identity.
- Medical Identity theft – It happens when somebody using your personal information and making claims on your policies on their health.
How to Protect Yourself from Identity Theft?
In this Modern Era, protecting your private information with no risk might be not an easy task. But you can prevent yourself from becoming a victim of identity theft by following simple ways.
- Never leave your ATM statements: Don’t leave your credit, ATM card paper statements at ATM machines.
- Monitor your credit report: Obtaining and reviewing your credit report will help you to keep a check on any suspicious activity. If you find any discrepancy, alert the concerned creditor immediately.
- Review your credit card statements: Always make sure you check your credit card statements more often and the transactions you made and also the location where the transactions made.
- On Social Networking sites: Today we spend a considerable time on social networking; there is a possibility of over-sharing our confidential information on social networking sites that may lead to Identity theft. Never over-share your information on social networking sites.
- Use Anti-malware and antivirus software: Harmful programs and viruses are used by identity thieves known as malware to steal your financial data. Most common programs being attachments or email with links and when you click on that a malware it gets installed on your computer machine and when you stroke your passwords on keyboard it gets recorded. It is better to never save a password when you’re logging on to your financial site.
- Stronger passwords for stronger safety: Undoubtedly a strong password will always pave way for a safe transaction. Special characters, uppercase and lower cases letters with incorporate spaces and should not include any name in the dictionary.
- Always be careful with Unsecured Wi-Fi: It is safe to use Secured Wi-Fi at your home that has a strong password. It is better to avoid using any unsecured Wi-Fi outside your home for any financial transactions.
- Shield your confidential and private data: Don’t respond to the emails and any telemarketing calls when they ask your personal information.
- Always use trusted sites: Always use the sites that have https://, not http:// and always avoid links which may direct you to a site that is not genuine.
- Signs Your Identity Has Been Stolen: Undoubtedly, it is important for the consumers to recognize any activity that is suspicious and understand the signs of your identity theft. In Modern era the personal information like bank, email and credit cards are sometimes at risk to be stolen.
Identity theft protection FAQ’s:
1. How to prevent identity theft?
- Never keep your PIN number in your phone or wallet, always try to keep in your mind.
- Always be careful with your documents such as loan applications, credit card reports, receipts that contain your personal and financial information. It would be better if you tear or shredder the paper so that no one can misuse it.
- Regularly check your credit report and if you find any suspicious activity report to bank immediately.
- Report to bank immediately if you lose any debit card, credit card or any other products that can be used for making monetary transaction.
- If you are not receiving mails check immediately as there would be a chance that criminals have taken yo9ur mails for the purpose of getting your personal data.
2. How many types of identity theft are there?
Identity theft includes stealing another person’s personal information for the purpose of using it for fraudulent purposes. The victim might be a business or individual. Fraudsters started using emails and internet as the online financial transactions are increasing.
- Fraud related to Credit Card – With a victim’s name and other details, a new account related to credit card is opened and purchases are made.
- Fraud related to Communication – This happens in the victim’s name at cellular, telephone and other utility service.
- Bank Fraud – This happens when a victim’s name is used by a fraudster for opening savings account and writes fraudulent cheques.
- Fraudulent Loans – This happens when a thief in a victim’s name procures a loan like car loan, personal loan etc.
- Online or Internet Fraud – This happens when thieves steal someone’s identity through Email, Websites and offline methods.
3. How Identity theft is done?
In modern and present era where most of the businesses are done over internet, personal information security is very important.
- Identity thieve steal wallets that includes credit cards, ATM cards and Identification
- They may even steal information from mailbox, credit card and bank statements, telephone bill and tax related statements,
- Sometimes it may so happen they even dig through garbage to find any personal or business data that can be used for fraud purpose.
- Thieves project themselves as the Landlords and pose even as the employer to find the personal information.
- Thieves steal personal information on internet through Key loggers.