How to Stop Online Identity Theft?

In the modern age we live in, access to information online has never been easier as individuals and companies alike can get all the required data with the ease of a mouse click.

As technology advances so do our needs and we find ourselves requesting services which once took a few days, to be done in a matter of seconds. However, with the ease of access comes also a negative effect, which is the danger of online identity theft.

Online identity theft is a form of fraud in which someone pretends to be someone else by assuming that person's identity, typically in order to access resources or obtain credit and other benefits in that person's name.

Identity thieves do so mostly by acquiring sensitive information that people use to authenticate themselves online.

One of the most common identity theft techniques used by perpetrators are making sites which impersonate authority websites, typically on a fake corporate website or online banks where the victims are duped into disclosing their personal information or login credential in the guise of reactivating their account. This method is known as phishing.

Another very common technique to steal someone's identity is to remotely install spyware, particularly keylogging programs or other forms of malicious software that hacks into the computer to obtain personal data.

Individuals who are duped or defrauded by the identity thief often suffer adverse consequences and losses. In some instances, be held accountable for the perpetrator's criminal actions.

The rampant presence of phishing and hacking makes everyone highly vulnerable to identity thefts. It is therefore your responsibility to guard yourself against it.

In order to avoid identity theft you should always pay close attention when using secret information such as passwords when accessing your accounts. For example, before you hand out private information, be sure that you are on a secured server which can be identified by the extension “https” in your internet browser.

To better protect yourself from online identity theft, you should take a few precautions when making transactions or handing out personal information over the Internet. Computers should be updated on a regular basis to keep current in firewall protection and the latest anti-spyware software. Emails sent from an unknown sender must not be opened. Personal information should never be given if any part of the transaction does not seem right.

Other things to pay attention to are problems when getting new credit when trying to make big ticket purchases, or refused credit cards. These could be signs of identity theft which can cost you thousands if left unattended.

If you happen to become the unfortunate victim of identity theft, then your credit score can be negatively affected. With a “bad” credit score from identity theft, you might be denied from receiving loans, getting credit cards, and you can even lose out on employment opportunities.

In order to prevent this from happening to you, make sure that you request your free credit report to which you are entitled by law and review it carefully. In case that you notice any unusual activities listed in your report, you have the option to file a credit report dispute. When doing so, you make sure that the credit bureaus will correct the mistakes as obliged by the Fair Credit Reporting Act.

Lastly, place a "Fraud Alert" on your credit report. The alert allows you to receive instant notifications after a change on your credit report. It is one of the easiest and most effective ways of protecting your credit against errors and fraud.

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Get "Fraud Alerts" via email when your credit score changes at CreditReport.com