Ways to prevent identity theft

If media reports have you thinking that cybercrime has evolved from isolated outbreaks to epidemic proportions, it can be hard to figure out where the sensationalism ends and the real threat begins.

Learn more: Reduce your risk of identity theft

Types of identity theft

The three most common types of identity theft are financial, medical and online. Learn how you can help prevent them and what to do if they happen to you.

1. Financial identity theft

Most people associate identity theft with this type of crime, which involves the use of personal information to take over financial accounts.

If you notice suspicious activity on a credit card or bank statement

Contact all financial institutions where you hold accounts and place a 90-day fraud alert on your credit reports by contacting all three credit reporting agencies individually (see resources at end of article). This prevents identity thieves from opening new accounts in your name, as most lenders need to review your credit report before approving an account.

Protect your Social Security number

This is one of the most important steps you can take to safeguard your financial holdings — from bank to credit card accounts.
Many are not aware that a Social Security number can also be used to gain access to your tax records — and refunds. Filing your tax return early can lessen the chances of someone else accessing your refund, as duplicative returns will raise red flags with the IRS.

2. Medical identity theft

Did you know that your health insurance information can be used by someone else to see a doctor, get prescription drugs or file claims to your insurance provider?

How you can help protect yourself against medical identity theft

Be sure to read all medical and insurance statements carefully, and if something looks unfamiliar to you, call your health insurance customer service number to cross-reference your information with theirs.
If it appears someone used your information, alert your medical providers immediately. Be prepared to gather supporting documentation to send to all parties involved.
Finally, follow up with both insurance and medical providers to make sure all errors have been amended.

3. Online identity theft

A sharp increase in social media use means greater opportunities than ever before to steal identities or perpetuate fraud online.

Tips to help you protect yourself when using social media

It may seem harmless to post on your profile that you'll be out of town or bought a new car. But in the age of oversharing, seemingly innocent information can be harmful if it gets into the wrong hands.
When it comes to stalking or stealing an identity, use of photo- and video-sharing sites provides deeper insights into you and those you care about, your house and places you like to frequent.
Each time you make a social media status update, think about whether it could be used to compromise your privacy or security in any way.
Be selective when accepting network invites, and remember that it's not "unfriendly" to decline adding someone you don't know — it's common sense.

Safety checklist for identity theft prevention

While institutions are continuously adapting to the latest cybercrime techniques, the first line of defense is often at home, since identity thieves specialize in hacking personal computers.

Watch for phishing
- The most common technique, known as phishing, could involve receiving unexpected emails or messages asking for personal information. Should you receive such an email or message, delete it and do not respond.
Verify virus alerts
- Another common scam involves a fake "virus alert" with an 800 number to call for help. Do not call the number. If you are concerned contact a trusted source such as an authorized electronics service center.
Update your software
- One of the easiest ways to help protect yourself from identity theft is to keep your computer technology updated. Hackers can exploit software vulnerabilities, so set your system to auto-update to ensure it will be maintained.
Beware of phone scams
- Remember that not all identity theft takes place through a computer. Phone calls are an increasingly popular way to gather security information. Be cautious if someone calls and asks for any personal or secure information.

Who to call if you have been a victim of cybercrime

If you are a victim of cybercrime, file a local police report and contact the Federal Trade Commission (FTC) to file an identity theft affidavit.

Federal Trade Commission

Identity Theft Hotline
Phone: 1.877.438.4338 (1.877.ID.THEFT)
Online: identitytheft.gov

These actions will create an official FTC Identity Theft Report and can help you access information about other breaches, stop creditors from collecting identity-theft-driven debt and erase false information from credit reports.