Identity theft can be costly and time-consuming to clear up. Here are some tips to make your life easier—and a potential thief’s job a lot harder.
Identity theft has become an increasingly common and serious problem. In 2024, the FTC reported more than 1.1 million cases—a 9.4% jump from 2023 (source: Motley Fool). While not new—Congress addressed it with the Identity Theft and Assumption Deterrence Act back in 1998—it continues to grow.
Identity theft can cost you time, money, and peace of mind. Fortunately, a little prevention goes a long way. Here are some practical ways to protect yourself.
Protect Your Social Security Number (SSN)
Your SSN is a key piece of your identity—used in everything from job applications to bank accounts. Criminals can use it to open fraudulent accounts and create fake identities.
Tips:
- Never carry your Social Security card in your wallet.
- Don’t write your SSN on checks or unnecessary documents.
- Ask if you can use other forms of ID (like a driver’s license) instead.
- Never respond to emails asking for your SSN—it’s almost always a scam.
Secure Your Online Information
The internet can expose your data if you’re not careful. Many transmissions aren’t encrypted, leaving personal details vulnerable.
Tips:
- Avoid sending sensitive info (like account numbers or SSNs) over email.
- Shop only on secure websites—look for “https://” in the address bar and check for privacy/security policies.
- Use services like PayPal to reduce exposure of your banking details during transactions.
Go Paperless When Possible
Paper statements and bills can be lost, stolen, or seen by others. Choosing electronic delivery reduces this risk.
Tips:
- Sign up for e-statements and online billing whenever available.
- If you use paper, shred sensitive documents before throwing them away—preferably with a cross-cut shredder.
Be Aware of Your Surroundings
Thieves don’t need much—just a glimpse of a credit card or overheard conversation.
Tips:
- Stay alert at ATMs, checkout counters, and even when on the phone.
- Don’t assume you’re being paranoid—just cautious.
- Thieves look for easy targets; don’t make it easy for them.
Monitor Your Credit
You’re entitled to one free credit report per year from each of the three major credit bureaus. Regular monitoring can help you catch fraud early.
Tips:
- Request your free reports at AnnualCreditReport.com.
- Consider credit monitoring or identity protection services—but read the fine print.
- Ensure any service monitors all three bureaus (Experian, Equifax, and TransUnion).
Bottom Line: Identity theft isn’t going away, but you can make yourself a much harder target. With some common-sense precautions, you can protect your personal information and your peace of mind.