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Identity theft has become a widespread problem. It affects millions of Americans each year. In 2023 alone, American adults lost $43 billion to identity fraud. The following stories demonstrate the dire effects this crime can have on an individual:
Paula DisberryFormer Colgate-Palmolive employee Live a comfortable life When she discovered her 401(k) account was depleted by $750,000, a shock came when she tried to access her account online. But found that the account was blocked.
Scammer impersonates her By changing contact details and withdrew all of her retirement savings in one transaction. Stories like this about financial identity theft are becoming more common. If you live in the United States You’ve probably experienced this before. Or worse, have experienced this firsthand before.
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Illustration of a fraudster at work (Kurt “Cyber Guy” Nutsson)
Think identity theft won’t happen to you? Think again.
FBI Internet Crime Report 2023 reveals that adults People age 60 and older accounted for 24.08% of all identity theft claims and 41.46% of all financial losses. Even though they may not face a higher risk of becoming a victim, But the financial costs are much higher than for any other age group. Older people, especially those aged 60 and over, tend to feel the impact more profoundly. Why? They generally have more assets than younger people and They are less likely to keep track of their bank accounts every day.
Illustration of a fraudster at work (Kurt “Cyber Guy” Nutsson)
Don’t fall for the ‘APPLE ID suspended’ phishing scam.
An ancient scam with a high-tech makeover.
Identity theft has been a concern for centuries. One of the most famous historical impersonators was Frank Abagnale Jr. Abagnale claimed to have successfully impersonated many professionals in the 1960s, including a Pan Am pilot and a doctor, forging checks and documents to amass a fortune. Little, his alleged exploits were so famous that they inspired the movie “Catch Me If You Can.”
Abagnale’s story, though, is a dramatic example. But modern identity theft has become a more prevalent threat. Especially when digital technology plays an increasingly important role. Personal information is widely available on the web. This is coupled with a lack of regulations that prevent companies from collecting data without consent. This makes it easier for criminals to take advantage of personal information. The impact is very large. And the effects can severely destroy your life and that of your family.
Select KURT’s to remove your personal information from the internet.
Woman is working using her laptop (Kurt “Cyber Guy” Nutsson)
Your email never expires. It’s just another hidden scam.
Red flags to watch out for
Being aware of the warning signs of identity theft can help you take action before it’s too late. This is a red flag to watch out for.
Unexplained accounting activities: Keep an eye out for unfamiliar transactions or changes to your bank or credit card statement that you don’t recognize.
Credit report changes: Check yours regularly. credit report For new accounts you haven’t opened or inquiries from lenders you haven’t initiated.
Missing letter or bill: If you stop receiving bills or other important mail. It could indicate that someone has changed your address without your knowledge.
Unexpected rejection: If you are unexpectedly denied credit It could be a sign that someone has used your information to apply for a loan or credit card.
Strange communication: Be wary of emails, texts, or phone calls asking for personal information. Especially if they create a sense of urgency or fear.
Unusual password changes: If you notice changes to your online account that you didn’t make, such as a password reset or security questions being changed. Take quick action to secure your account.
Notification from the identity theft prevention service: If you use an identity theft protection service and receive a notification about suspicious activity. Please check immediately.
What is artificial intelligence (AI)?
Strengthen your defenses now.
Identity theft doesn’t have to be catastrophic. You can significantly reduce your risk by being more mindful of your online behavior. Here’s how.
1. Check your account regularly: Keep a close eye on your bank and credit card statements to catch unauthorized transactions early. This can prevent financial loss and protect your assets.
2. Use a strong password: Use complex passwords and Password manager To secure your online account Strong passwords are the first line of defense against cyber threats.
3. Stop oversharing: Limit the personal information you share on social media and other platforms. It’s a treasure trove for cybercriminals who use it to create convincing fraud campaigns that specifically target you.
4. Invest in personal data deletion services: Considering the alarming increase in cases of identity theft, It is important to take proactive measures to protect your personal information. One effective strategy is to invest in a personal data deletion service. Although no service promises to erase all your data from the internet. But having a data deletion service is great if you want to monitor and automate the process of continuously deleting your data from hundreds of sites over a longer period of time. Check out my top picks for data deletion services here.
5. Freeze your credit: Initiate a credit freeze on your credit file with all three major credit bureaus. This limits access to your credit record. This makes it difficult for thieves to open new accounts in your name.
6. Use identity theft protection services: Identity theft companies can verify personal information such as Social Security numbers. Telephone number and your email address and alert you if it is being sold on the dark web or used to open an account. They can also help you freeze your bank accounts and credit cards to prevent them from being used without permission by criminals again. Check out my top tips and options on how to protect yourself from identity theft.
7. Use two-factor authentication: Activate This is another layer of security. into your account to make it harder for thieves to access your data. Even if they get your password.
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8. Be careful using public Wi-Fi: Avoid using Public Wi-Fi for sensitive transactions or use a VPN to encrypt your online activities. Using a VPN service (virtual private network) Can increase your privacy by encrypting your internet traffic. This makes it harder for hackers and third parties to intercept your data, especially on public Wi-Fi. A VPN masks your IP address, helping to mask your location and online activity. Although a VPN doesn’t directly protect against phishing emails, it does. But it reduces exposure of your browsing behavior to trackers that might use this information maliciously. With a VPN, you can securely access your email account from anywhere. Even in areas with strict internet policies For the best VPN software, check out our expert reviews of the best VPNs for private browsing on your device. Windows, Mac, Android, and iOS devices–
9. Destroy important documents: Destroy financial documents loan offer and other documents that regularly contain personal information before discarding
10. Set up banking alerts: Many financial institutions offer text or email notifications for transactions on your account. Helps you quickly see unauthorized activity.
11. Have strong antivirus software: The best way to protect yourself from malicious links that install malware that may access your personal data is to install antivirus software on all your devices. This protection can also alert you to phishing emails and ransomware scams. To keep your personal information and digital assets safe Pick the winner of 2024’s best antivirus protection for your Windows, Mac, Android, and iOS devices.–
12. Keep your software updated: Make sure your device and antivirus software are up to date. regular updates There are often security patches that protect against vulnerabilities that scammers could exploit. Keeping your software up-to-date is an important step in protecting your digital assets.
Kurt’s key points
Although the statistics are worrying, But it doesn’t have to make you feel helpless. Identity theft is a serious threat. But with awareness and proactive steps. You will be able to greatly reduce your risk. Remember that criminals are constantly evolving their strategies. This means we need to stay one step ahead. The most powerful weapon against identity theft is knowledge. Understanding how these scams work Recognizing potential danger signs And taking preventive measures can make a difference.
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