Identity theft has become one of the most common issue in all over the world. It has been reported that this type of crime has accounted for 77 percent of fraud cases in India. Consumer loans, mortgage loans, and personal loans account to the largest number of fraud cases. Therefore, protection against such menaces is of utmost importance today.
Keeping the possible outcomes in mind, listed here are some tips for you to prevent identity theft online:
Hold the TMI (Too much information): The easiest form to protect yourself from identity theft is to be aware of the information you share through social media. Studies have shown that people share too much of their personal information on social media sites such as- birthdays, education history and mobile numbers. These are precisely the kind of information financial institutions use to verify your identity. Do you remember the password questions about your first dog or father’s name, or high school attended? These are the questions which could leave you vulnerable to identity theft as these are considered to be the most common questions whose answers would be known to everyone.
To protect yourself from identity theft, always remember to keep your phone updated with the latest operating system. These updates are crucial to close the security loopholes that provide identity thieves access to your private information.
Using a password on your home screen is a smart idea that will help you to prevent your personal information from being stolen.
Secure your identity by shopping safely: Are you an online Shopaholic? If yes, be certain that your online credit card charges are controlled through a reliable site or in an encrypted mode. You are on a secure site if the web page begins with https instead of the usual HTTP. Therefore by submitting your credit card information, address, and other personal details through an encrypted page helps in reducing the chances of identity theft.
Set up alerts with major Credit bureaus and your bank: Creating a fraud alert is the simplest and the easiest way to stay on top of any strange activity. The warning system is placed on the banks monitors and account activities that immediately notify the authorities via a text, an email, or even a call in case of suspecting any kind of dubious activity. The set-up is easy and can be done online as well.
Issues in your credit card? Report online
Keep a vigilant eye on your credit reports and if you notice any suspicious activity, there are numerous steps you can take in order to resolve your dispute thoroughly.
Use an Identity theft protection app:
There is an app for everything right now. So why not use an app to safeguard your financial identity from conman sprawling all over the web space?
Following are some of the top rated applications that can effectively help in securing your identity and personal information.
LifeLock- An app that provides identity theft protection and claims that its services are 100% guaranteed. The best part is that the services provided by LifeLock are free and user-friendly. You can visit their site and read their LifeLock reviews as well for better understanding.
Scam Detector–This is a theft detecting application that maintains a database of known scams, scammers and individuals. So, in case of any dubious activity, you will be instantly notified and necessary steps will be taken to safeguard your essentials.
Experian ProtrotectMyID - Experian is one the top credit reporting agencies which shows you in real time all the events occurring on your Experian credit report.
LogDog- It is basically a security system that alerts you as soon as it senses an unusual activity on your accounts. Not only this helps you to keep a record of all your online accounts but also aids you in taking quick action in case your details are compromised.
Identity Guard-This is an app for Android phones only. It provides you real-time warnings as soon as it marks any strange activity on any of your accounts.