Identity theft has existed for years, but new technology has increased the prevalence of this crime. Identity theft affects almost everyone – the young and the old as well as those who are dead. As the repercussions of identity fraud are severe especially for your finances, you need to take precautions to reduce the dangers of identity fraud. The most basic way of stopping identity theft is to ensure that the thieves do not have access to your identity or personal information by cutting all paperwork containing any personal information such as birthday, address, debit card numbers, social security numbers, and so on. Another way of protecting yourself from identity theft is to avoid revealing personal information and passwords over SMS. Banks will never ask for your password and any phone call asking you for this information is likely to be for identity fraud. In order to spot identity fraud as soon as possible you need to monitor your credit statements. This will help you notice any variation as soon as it occurs enabling you to alert the relevant authorities and ending the theft of your identity. Even when you take precautions, there are chances of identity thieves accessing your passwords. To avoid this, you should vary your password frequently and never use the same password for more than a particular account. If your credit card is stolen, report this immediately to the credit card issuer as well as the police. This will ensure that the stolen credit card cannot be misused. When you shift your residence, ask the post office to forward all mail to your new address. This will ensure that mail having sensitive personal information does not fall into the hands of identity thieves. While online purchases are convenient, they can lead to identity impersonation. To avoid this make sure that you use only secure sites for online transactions. Since online transactions can easily be hacked, you need to install firewalls in your computer. This is important if you use your computer to make online transactions. Identity theft is here to stay and you should take proper precautions to protect your finances and credit rating.
August 9, 2015