No matter how hard you try or how complex is the password of your Internet Banking, there are always chances of your identity being stolen. It’s not just because of your regular shopping habits, but people who never purchased online may also become victims of identity theft incidents. This is what makes consumer awareness a not-to-avoid thing.
A record shows that over 15.4 million Americans were victimized by identity theft last year, which attracted the top identity theft protection technologies to come into existence.
However, the prime reason for the increasing incidents is not the lack of consumer awareness, but it’s because most people don’t even know that they have become victims of identity theft fraud.
How Do You Know When You’ve Been Victimized?
Experts claim that there is no single answer to this question as there are many signs that may predict that the individual’s identity has been compromised. However, we’ve collected a handful of the best ways to identify it.
Failing to receive bills or other mail
This may be the first sign of alert if you don’t receive emails from your bank or regarding the transactions you make. Many financial institutions launch consumer awareness campaign where they are informed about the importance of bank alerts via email.
You’re rejected for credit
Even if you think you have never done a fraud or any of your cheque has defaulted, you may be rejected for credit. The most common reason for this is identity theft. Someone else may be already using your account information to make purchases online.
You get billed for purchases you didn’t make
If you get the bills for purchases you didn’t make, don’t assume that anyone else in your family may have purchased something. Although it is possible, don’t believe unless you cross check the fact yourself. In such cases, it is essential to contact the creditor and inform them that you have been a victim of identity theft.
You get two-factor authentication alerts
This is the most common ways to stay on the top alert. If you get a One Time Password (OTP) on your bank registered mobile number, chances are that someone else is trying to make a transaction using your consumer Information. Never share the OTP with anyone over the phone or in person as it may be misused for financial transactions.
Although all the banks and shopping platforms use top identity theft protection technologies, chances of fraud are always there, unless the technology isn’t really effective.
As soon as you detect a security breach, immediately report the incident to the local authorities and your concerned bank to minimize the damage. Also, you can choose to contact the credit reporting agencies directly and ask them to put a fraud alert on your credit file.