Identity Theft is on the Rise: Everything You Need to Know!

Identity theft is rising, and even children are becoming victims of this cybersecurity issue. Bureau of Justice Statistics has revealed that every hour almost 74 robberies take place, whereas almost 2000 identity theft frauds occur every hour in the United States. 

This has made identity theft one of the biggest threats to US soil. According to the Identity Theft Resource Center, identity crimes and related frauds rose to 36% in 2021 compared to 2020’s stats. 

Tips to Protect Yourself from Identity Theft

1. Use Multi-factor Authentication

Two-step or multi-factor authentication provides an extra layer to secure your account in case a scammer has acquired your credentials or login details. After logging into the account successfully, the fraudster will be prompted for another identity verification, like a call verification or a 4, or 6-digit code sent to the real user’s number. 

However, multi-factor authentication isn’t enough, and you shouldn’t share these OTPs with anyone else. If scammers get this information, they can hack the account and pretend to be someone else. 

2. Go Directly to the Source

If someone emails or texts you and asks for your credentials, even if it’s legit-looking, don’t answer it. Even if the IRS messages you asking for such sensitive information, don’t ever provide them with this information. 

Directly go to the official website or application of that organization or call their official number. Just contact the entity in any way to verify that the authentic organization is trying to connect with you. 

3. Choose a Complex Password

The best way to prevent getting your account (and ultimately identity hacked) is by setting a complex password to your accounts. Don’t go for numeric or alphabetic passwords only. Instead, create a special password with numerals, alphabets, and special characters. 

You can even add upper case alphabets to increase the strength of your password. For example, LogIn123@!. 

Identity theft and related fraud are increasing daily in the US. Criminals are constantly finding ways to lure victims and steal their identities. Have as much knowledge about identity theft as possible to prevent it from happening.