Being a victim of identity theft has serious consequences.
The attacker can easily wreak havoc on your credit score by maxing out your cards or even taking out loans under your name. Both of which significant affect your credit score. Recovering from such an ordeal is possible but it can take years.
In a perfect world, your identity is yours but the reality is that attackers now use sophisticated means to gain access to personal information. One solution is to continuously monitor your credit but this can be rather time-consuming. A better option is to invest in identity protection services.
Here is what to look for when choosing the right service.
1. Comprehensive Monitoring
Identify thieves will attempt to use your credit to make purchases or open a loan in your name. This can be incredibly easy to overlook especially if you only occasionally look at your bank accounts. Look for identity theft services that offer credit monitoring and alerts if there is any suspicious activity.
Some even offer more comprehensive services that proactively monitor your name and social security number online. Look for services that also provide reports you can review for added peace of mind.
2. Software Security
Identity thieves may be able access your personal information through malware or phishing scams. The identity theft service you choose should include software tools that keep your computer secure and encrypt your personal details such as login credentials.
Another example of software security is keystroke encryption. Some malicious malware will attempt to log your keystroke to gain access to your online banking or other accounts. This is incredibly important to know on how to protect your identity.
Identity theft protection services do not actually protect you from identity theft but rather provide solutions to reduce the risk. Choose a service that provides personal recovery assistance to walk you through the process of resolving any issues. Some offer insurance that cover any expenses as a direct result of identity theft.
Millions of consumers in the US become victims of identity theft. The good news is that there are a number of services available that greatly reduce the risk by monitoring your credit and providing security software.