Identity theft is a growing crisis. Therefore knowing the necessary tips on identity theft and recovery should be a significant part of your financial life. Undue identity theft can cause undue consumer debt, thus increasing the significance even more.
Tips on Identity Theft and Recovery
What is identity theft? It is the deliberate use of another person’s identity or personal information. It is usually a method to obtain financial gain. Many consumers do not know how to effectively prevent themselves from becoming victims of identity theft.
With identity theft continuing to drastically increase across the country, it is imperative that consumers know how to prevent themselves from falling victim to this crime. The sooner you notice you are a victim, it is important to take the necessary steps to recover from the incident and secure their financial future.
Here are some tips that can be useful to recover from ID Theft.
- Review your online bank statements – Go through your bank statements at least once a day and make sure you recognize every transaction before paying your credit card bill. If you see an unfamiliar purchase, contact your creditor immediately. This could be fraudulent debt in your name.
- Password Protection – All financial accounts should be password protected. A strong password should contain a mixture of numbers, both upper and lower case letters, special characters, and be more than eight characters in length. Avoid using predictable choices as your password and remember to change your password often.
- Secure Devices – Never leave your device visible if left unattended. Use passwords on smartphones and laptops to prevent unauthorized access to data on your devices.
- Install a Firewall – A firewall can help protect your information by acting as a traffic block. It can prevent access by unwanted visitors attempting to connect to your computer. Without a firewall, identity thieves may have access to some or all of your private information.
- Backup your data – By backing up your data, you will still have your records even if your device is stolen. Backing up your system also enables you to reboot your computer if your hard drive has been compromised.
If you’re struggling to pay off debt, ACCC can help. Schedule a free credit counseling session with us today.