Steps to protect yourself from identity theft even if your sensitive information has been stolen.

It is easy to become numb to all of the reports that sensitive personal information has been hacked.  But just because this is a familiar story doesn’t mean it’s not important. Now, more than ever, it’s important to take steps to protect yourself from identity theft.

Freeze your credit

A credit freeze helps protect you from identify thieves who might try to open new credit lines in your name. The freeze blocks any new credit accounts from being opened for you. You can temporarily lift the freeze when you want to, such as when applying for a credit card, auto loan or mortgage.

Freezing your credit won’t affect your credit score.

Some experts also recommend that parents freeze credit for their kids to protect them from identity theft and fraud too.

It doesn’t cost anything to freeze your credit, but you have to initiate the process. Here’s a quick guide on how to do a credit freeze.

Monitor your accounts

Keep a close eye on your bank accounts and credit cards. At a minimum, review statements each month. You can also set alerts so you get a text or email anytime your credit cards or debit cards are used. Alerts can help stop problems early.

Enroll in ID protection

Several providers of credit and identity monitoring offer services for a fee. As a Consumers member, you’re eligible for Mastercard ID theft protection. This free service will alert you to any changes in your credit profile like new inquiries, accounts opened, address or employer changes, bankruptcy and more—as well as recommended steps to minimize damage if you don’t recognize the activity. If you do encounter a problem, the Mastercard resolution team will help resolve the incidents and prevent further damage. Learn more about Mastercard ID Theft Protection here.

Check your credit report

Your credit report is a comprehensive file on your debt and repayment history. Fraudulent activity can seriously damage your credit score and be difficult to correct.

You can get a free credit report from each of the three major reporting bureaus. Many people spread out their report requests so they can better monitor their credit throughout the year. For example, you could request a report from Equifax in October; four months later in February, get your report from Experian; and four months after that, in June, you could ask for a report from Transunion.

Here’s how to check your credit report—and fix any errors you may find.

Monitor your credit score

As a Consumers member, you have a quick, easy and free way to check your credit score with our Credit Score Feature. If you see a change in your score that’s not related to your financial activities, this could indicate that someone is taking out credit or spending in your name.

Change passwords

Changing passwords for bank accounts and any merchants and subscription services that store your credit card number can help deter identity theft.

A strong password is one that:

• won’t easily be guessed, like your street name or a familiar character
• is unique and not used for any other site
• is significantly different from previously used passwords
• includes a combination of upper- and lower-case letters, numbers and symbols

Also, when it comes to passwords, longer is better.

Use two-factor authentication

Two-factor authentication is a security measure that requires more than a password to access an online account. For example, a special code might be sent to you by email or text in order to complete login.

Set up two-factor authentication for all accounts that feature this additional protection step.

A trusted source for more information

The Internet Crime Complaint Center(IC3) | Home Page, run by the FBI, is a trustworthy place to for more education about identity theft scams and to file a complaint.

Also, learn how to stop a scam from happening to you with our scam drills. The drills describe what scammers do and say, their ploy and what you should do and say in response.

 

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