Nine Ways to Protect Yourself From ID Theft (Video)
Identity Theft has been called "the fastest growing crime in America" affecting millions of Americans each year. Nearly 10 million people fall victim to identity theft yearly, costing consumers an estimated $5 billion in out-of-pocket losses and businesses $48 billion, according to the Federal Trade Commission.
While there is no fool-proof way to protect yourself against identity theft, there are some very important steps you can take, and habits you can practice to improve your chances of being safe from identity theft.
What steps can you take to protect yourself against identity theft? This video covers some of the most important steps you can take. Often when identity theft does occur, it may go undetected for a long period of time and, potentially the damage an identity thief can do will grow over time because identity theft continues unchecked. One of the best ways to detect identity theft as soon as possible is to monitor key changes on all three credit reports on a daily basis.
How could this help you discover identity theft? If someone tried to use your personal information, without your authorization, to open up a credit card account in your name, credit monitoring would send you an email alert to notify you that a new application for credit was made in your name. Credit monitoring could also alert you to a public record filed in your name, or an unauthorized address change that might have been made to hide fraudulent charges on one of your accounts.
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