In today’s digital age, identity theft has become a prevalent issue that can affect anyone. It’s crucial to understand how identity theft occurs and what steps you can take to protect yourself year-round and especially during the holiday season.

Understanding Identity Theft

Identity theft occurs when someone unlawfully obtains and uses your personal information, such as your Social Security number, credit card details, or bank account information, typically for financial gain. The consequences can be severe, including financial loss, damage to your credit score, and a lengthy process to restore your identity.

Enhanced Identity Theft Protection

The best offense is a great defense. A good, strong password should be at least 9 characters and include both upper and lowercase – as well as numbers and symbols, if possible. Don’t use anything that might be linked to you, like a name, nickname, middle name, family member name, or pet name. Use something obscure, ideally it’s not even a real word. If it’s hard for you to commit to memory,   write it down instead of typing or saving it, and keep it somewhere in your home. Purchase enhanced identity theft coverage from a reputable company. Identity theft protection policies are generally inexpensive. For $25 dollars a year, Security First Insurance offers its customers fraud monitoring, internet identity monitoring, criminal identity monitoring, lost wallet service, and postal junk mail reduction service, in addition to restoration service and identity fraud expense coverages in the event that your identity is stolen.

General Tips to Prevent Identity Theft

1. Monitor Your Credit Reports: Regularly check your credit reports for any suspicious activity. You can obtain a free credit report annually from each of the three major credit bureaus: Equifax, Experian, and TransUnion.
2. Use Strong Passwords: Create complex passwords that include a mix of letters, numbers, and symbols. Avoid using easily guessable information like birthdays or common words.
3. Enable Two-Factor Authentication: Whenever possible, enable two-factor authentication for an extra layer of security on your online accounts.
4. Be Cautious with Personal Information: Avoid sharing personal information over the phone, email, or social media unless you are certain of the recipient’s identity and the necessity of sharing such information.
5. Shred Sensitive Documents: Shred any documents that contain personal information before disposing of them to prevent dumpster divers from accessing your data.
6. Secure Your Devices: Ensure your computer, smartphone, and other devices have up-to-date antivirus software and firewalls to protect against malware and hacking attempts.

Identity Theft During the Holidays

The holiday season is a time of joy and giving, but it also presents unique risks for identity theft. With increased online shopping and charitable donations, scammers take advantage of the festive spirit to exploit unsuspecting individuals. Here are some specific tips to protect yourself during the holidays:

1. Beware of Charity Scams: Scammers often pose as legitimate charities to steal your money and personal information. Always verify the charity’s authenticity by visiting their official website or using trusted resources like Charity Navigator.
2. Watch Out for Skimmers: Skimmers are devices that thieves attach to card readers at ATMs, gas pumps, and point-of-sale terminals to steal your card information. Inspect card readers for any signs of tampering and cover your PIN when entering it.
3. Shop on Secure Websites: When shopping online, ensure the website is secure by looking for “https” in the URL and a padlock icon in the address bar. Avoid clicking on links in unsolicited emails, and type the URL directly into your browser.
4. Use Credit Cards Over Debit Cards: Credit cards offer better protection against fraudulent charges compared to debit cards. If your credit card is compromised, you are not liable for unauthorized charges, whereas debit card protections are more limited.
5. Check Your Statements Frequently: Review your bank and credit card statements regularly for unauthorized transactions and promptly report any suspicious activity to your financial institution.

Identity theft is a serious issue that requires vigilance and proactive measures to prevent it. By following these tips and staying informed, you can significantly reduce your risk of becoming a victim. Remember, the risk of identity theft increases during the holidays, so take extra precautions to protect your personal information.

For more helpful tips, see our Identity Theft Prevention Guide and the Online Identity Theft Prevention Guide.