Why You Should Start Taking Identity Theft Seriously Now?

Cyber threats are very common nowadays and one such threat is that of identity known as Identity Theft. Identity theft seems to be a very familiar term but people still are not very clear with its meaning. They take it for granted assuming that it can happen to only the wealthy people and not to them. This attitude of people has led to make this a major concern for the modern era.

As of now, 1 out of every 10 people has suffered from identity theft every year. So this is the need of the hour that you take identity theft as a serious issue that needs your attention.

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Identity Theft: It’s meaning

It occurs when somebody utilizes another person’s personal details such as their name, credit card details, phone numbers, etc to do some kind of fraud like transactions and purchases, without their knowledge. There are several ways of identity fraud that we will discuss to gain better clarity and prevent them from happening.

Financial Identity Theft

It is the most popular one. Your card details can be used to make online purchases, withdraw cash, or take up loans on your behalf illegally. This will not only lead to financial losses but will also affect your credit score. All the banks provide steps to take in case you go through any such identity theft.

Insurance and Medical Identity Theft

One uses identity theft in the case of Insurances and does frauds to get medical claims. Just imagine someone went through a family loss and the savings that were made by the person for his loved ones got stolen. Isn’t it a disheartening situation? In such hard times, a loss of financial support could really affect anyone’s life very badly. Your identities can be used by thieves to make false claims. So it becomes all the more important that people are extra cautious towards such frauds.

Social Identity Theft

There is a Social Security Number associated with your valuable personal details. With your personal details, fraud documents get created and are highly misused. There is a high risk of social identity theft with children as identity thieves aim for the details of young children and then sell them on the dark web. With the increasing actions that take place in the dark web, the risk of identity theft is increasing exponentially.

All these different kinds of identity thefts are equally dangerous and can lead to serious criminal charges as well. For instance, your driving license gets stolen and is sold further to someone else with somewhat a similar face. Then all the violations that he makes such as traffic rule violation etc, he can misuse the stolen identity and this can cause you some serious problems in the long run. A collection of personal details can be used to create a “new” identity and this leads to Synthetic Identity Theft.

Protect Your Identity

It is the need of the hour that you understand the various risks involved with Identity Thefts and reckon with some steps to prevent it from happening. Your identity plays a very crucial role in the world and undoubtedly, it needs to be protected. Some of the quick tips have been shared below:

1. Protect your Passwords: Keep different passwords for different things, be it for mails, card details, etc, and keep on changing them timely.
2. Ensure Proper System Security: People widely use different devices to make online transactions and purchases. Use well-secured firewalls for all your devices and digital platforms.
3. SSN Needs Protection: Your Social Security Number (SSN) is a very valuable number consisting of your details and needs to be well-protected.
4. Avoid Sharing Information: One should avoid sharing information as much as possible. Sharing your date of birth can also be misused in various manners.
5. Report any discrepancies: Most importantly, if you come across any such theft, don’t be afraid to inform and do it as soon as possible. Keeping a regular check of your records will be beneficial.

The bottom line:

Taking care of such small yet noticeable situations can save you from being the victim of any such situation. Your extremity towards identity thefts is very essential. Thus, cybersecurity is important and should be ensured in all the possible aspects of life.