3 Actions to Help Prevent and Address Identity Theft Online It's astonishingly easy to become the victim of identity theft these days. It can happen the old fashioned way, from stolen mail, a lost wallet, or when thieves rummage through your trash. Online identity theft is a growing field though, with plenty of media coverage for information stolen from website data breaches, after a person falls for phishing scams, or from malware that skims financial information from your computer. Unfortunately, the field is ever growing, and becomes more sophisticated each day. It can seem overwhelming, but you can take three actions today to help prevent and address identity theft and make your money more secure.Protect your Computer and SmartphoneProtect your computer and smartphone with security software, strong passwords, and by avoiding spam and scams. If your computer or phone becomes infected with malicious software, you may have already given criminals the key to your castle. Install and update security software for any device that is connected to the internet. A good resource to decide on reliable software is available from Consumer Reports. Always use strong passwords, and change them often. Preferably, they should be over 10 characters, including upper and lower case letters, numbers, and symbols. Avoid numbers or words that are linked with your personal information, like names, ages, or birthdates. Also, keep your personal information like your phone number, email, or birthdate off of social media sites. Scammers are becoming more and more sophisticated in their research, and can use these details against you. Lastly, be wary of deals that are too good to be true. Some phishing scams are easy to identify, but others can look plausible. The only way to truly avoid these scams is to never click a link that has been sent to you. If you receive an email from your bank it may very well be safe, but to be sure, go to their website and log in instead of following the link provided. This way you will know that you have reached a legitimate website, and not a façade that will skim your information.Monitor Your Credit, Track Your Score, Freeze Your CreditMonitor your credit, track your score, and freeze your credit, if needed. You have the right to three free credit reports each year from Experian, Transunion, and Equifax. Many websites claim to provide these reports, but only one site, AnnualCreditReport.com, works with all three credit bureaus to provide this information. Take the time to periodically review your credit report. Look to see if there are any new credit cards, loans, or other transactions on your account that are suspicious. If there are, take immediate steps to have these terminated and investigated. Freezing your credit can help prevent loans or lines of credit from being taken out in your name. Identification from a lost wallet or stolen mail can be used to open new lines of credit. Fortunately, you can lock or freeze your credit so that no new lines of credit can be given without additional information or a security pin. In Arizona, this can be done online for $5, or for free by mail with a submitted police report. Use the following links to freeze your credit with Experian, Equifax, and Transunion.Be an Aggressive Victim of FraudBe aggressive if you become a victim of credit card fraud, because it can be the first sign of identity theft. Once you have determined that unauthorized charges are more than just credit card fraud, you may want to file a report with the Federal Trade Commission. To file a report, you can visit the FTCComplaintAssistant.gov or call 1-877-ID-THEFT (438-4338). It's a good idea to also file a report with your local police department because this establishes a paper trail that helps protect you against future claims, should the fraud continue. Additionally, having a police report can make actions like freezing your credit free, instead of having to pay the credit bureau's nominal fee. Finally, place a fraud alert on your credit report with the three credit bureaus. A fraud alert lasts for 90 days, and it notifies any institution that pulls your credit report to the fact your identity may be compromised. The alert will prompt creditors, utility companies, or anyone else who may be allowing a criminal to set up an account with your information to take extra steps to verify the identity of the person opening an account. If you can provide proof to the credit bureaus that you are a victim of identity theft, the fraud alert can be extended up to seven years (although you can remove it at any time by sending a written request).We hope this information is useful to you and your family. If you have a specific questions or need additional resources, don't hesitate to call our office.
