With the looming rate of identity theft, it’s prudent to be well prepared and protected in case it ever happens to you. Here are some of the best ways to avoid being a victim of identity theft.
• Free Credit Monitoring
It is one of the best methods to prevent identity fraud and theft. If there is any suspicious activity in your credit account, you can get notified immediately from the credit report. Some of the major services and bureaus that offer free credit monitoring have a cost of $180 every year.
You can also try CreditKarma, that offers free credit monitoring services. The services are performed every day and there are email alerts if any changes are detected in the file. It’s one of the best ways to detect any suspicious activity on your credit cards and resolve the issue immediately.
• Use Passwords On Your Smartphone
If you use your phone for mobile banking, social networking or online commerce, there is a huge chance that a large cache of data is stored there. If you happen to lose it, an identity thief can gain access to your most important accounts including financial information.
To prevent this, you should lock your smartphone with a unique or complex password. Your phone should always be set on auto-lock. Make sure that the financial apps have unique passwords that haven’t been stored on your phone.
• Safety And Security When Using Electronic Devices
Your mobile devices are susceptible to identity thieves, if you log into them using public networks. Turn off features such as Bluetooth when you’re in public places to keep malicious third parties from pairing to your devices and stealing your information.
When using Wi-Fi make sure you connect to secured networks. Always opt for those with WPA2 protocols. On the other hand, if you’re using a public Wi-Fi connection, make sure you don’t access sensitive information using your device.
• Smart Cards
Although they are just like credit cards, smart cards have a protection feature against identity theft, thanks to the EMV technology chip installed into them. For instance, they have a unique pin number that protects any malicious access to your financial information.
Currently, the financial niche is still taking a while to adapt to the new credit card technology. Most of the firms still use the magnetic strips that are still vulnerable to identity theft but some have started offering smart card alternatives to their customers. If you don’t have that option yet, you can always opt for a debit card rather than a credit card to prevent identity theft.
Many people find that using some form of identity protection software can be very beneficial – check out this ProtectMyID Review to get an idea of the sort of thing you could be missing out on if you don’t have one.
• Overall Protection For Your Financial Accounts
Always check your financial statements at least once every week. That way, you can notice any suspicious activity on your accounts and prevent a terrible attack on your accounts. On the other hand, you can set a specific budget for spending and keep an eye out for any unusual spending on your account.
In conclusion, you need to be very protective about your financial information. That way, you can always stay one step ahead of the bad guys if your information is completely protected. Use these tips to keep your identity secure.