With our business and social activities shifting online, identity theft and fraud are always a risk. We share our sensitive confidential information when we apply for a loan, create online accounts, and even when we are searching for a job. Unfortunately, fraudsters constantly manage to access our personal information despite businesses’ efforts to protect our data. So, is identity theft protection insurance worth it?
So, what is Identity Theft?
Identity theft is the criminal activity of obtaining personal information and credentials such as birth date, social security number, bank account information, or credit card information. Identity thieves have the ability to do the following actions with this data:
- Apply for credit
- File taxes
- Make unauthorized transactions and purchases
- Commit other types of fraud
Additionally, these are some of the prevalent ways your identity can be stolen.
Data breach Vulnerability
A data breach takes action when an unauthorized person receives access to, uses, or takes information from a business. This data vulnerability happens due to employee negligence, accidents, system failures, or criminal activity.
Browsing Compromised Websites
Browsing compromised websites exposes you to various types of identity theft. Fortunately, some browsers alert you when you attempt to access a risky website. Make sure you don’t neglect the warnings!
In addition, avoid clicking on links embedded in your emails. Instead, type the link into your browser and read the URL carefully. So, a simple mistype can lead you to a risky location.
Credit Card Theft
Moreover, credit card theft is one of the easiest ways of identity theft. Your credit card information can get exposed and stolen through data breaches and physical robbery. Are you still asking, “should I get identity theft protection”? Contact MWE Partnership today for more questions!
Cybercriminals use malware to get personally identifiable information (PII) and steal identities. This is malicious software that has spyware, viruses, ransomware, and adware. Also, the most prevalent way people fall victim to malware is by participating in polls, contests, and surveys. Moreover, some fraudsters mimic legitimate companies with fake domains to infect other people’s devices.
Lastly, hackers can obtain your data when you use your devices on a public Wi-Fi network. Don’t shop online and disable the auto-connect option when you’re using a public network.
Overall, even the best identity protection can do so much to protect your personal information. So, is identity theft protection worth the money? Eventually, it’s up to you. Are you willing to monitor your data, or freeze your credit? It would be wise to pay for identity theft protection services with insurance if you’ve already been a victim.
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