How to Monitor Identity Theft

Identity theft is a crime that occurs when someone assumes your identity for the purpose of obtaining credit or making purchases. This occurs when a criminal obtains personal information and then uses that information to commit fraud with a creditor or merchant. When you become the victim of identity theft, it can damage your credit and potentially cost you money. Instead of waiting until identity theft happens to you, monitor your finances to prevent it from occurring in the first place.

Instructions

1

Watch out for the warning signs of identity theft and inaccurate information that could indicate you've become a victim of identity theft. When you get a statement or some other information about an account that you do not remember opening, this could indicate that asomeone has stolen your identity. Check your bank accounts, credit cards and any other financial accounts regularly. If you have online account access to your bank accounts, check them as often as possible.

2

Get a copy of your credit report and review it regularly. Look for any discrepancies; for example, if an account shows up that you did not open or if the balance of an account looks bigger or smaller than it should be, this could be evidence of identity theft. You can get a free copy of your credit report every year from the Annual Credit Report website. You might also consider signing up for a credit monitoring service to help watch over your credit information. Credit monitoring services watch your credit reports for you to make sure that no new accounts are opened in your name.

3

Protect your user login and password information for online accounts. Many identity thieves use password phishing scams to obtain entry into accounts. For example, the identity thief might send an email stating that you need to change your password to an account. When you click on a link inside the email, it directs you to a site that looks exactly like the site you are used to. Once you enter your password, the identity thief steals it and uses it to access your account. To avoid this problem, never follow links in emails that are not from verified sources. Type the address into your web browser to ensure that you are taken to the correct site.

4

Shred documents that have sensitive financial information before throwing them away. When you receive account statements from credit cards or the bank, shredding them can prevent identity thieves from accessing this information. You should also consider shredding bills that you receive so identity thieves cannot make purchases on any accounts.

5

Protect important information such as your credit card numbers and your Social Security number. Do not give your Social Security number to anyone unless it is absolutely necessary. Never leave your credit card out in the open. Only use your credit card on secure websites with reputable merchants.