One of the best ways to prevent identity theft is to review your personal records for activity and accuracy on a regular basis.
Identity theft occurs when a person gets access to your personal information to use your identity to make purchases or transactions. One of the best ways to prevent identity theft is to review your personal records for activity and accuracy on a regular basis. If all your prevention measures fail, consider purchasing identity theft insurance from The MWE Partnership.
Different Types of Identity Theft
As technology evolves, there are many ways for different scammers and criminals to access your private data. Be aware of these common types of identity theft and fraud:
Account Takeover
This type of identity theft is when a criminal gains unauthorized access to take over one or more of your accounts. The criminal may utilize these accounts to make fraudulent transactions or purchases.
Credit or Debit Card Identity Theft
A criminal can make unauthorized transactions even without having your physical credit or debit card in their possession. All that is required is your security code, card number, and PIN. In such cases, having identity theft coverage is beneficial. The assistance can help you recover your financial identity and repair your credit reports.
Social Security
A Social Security number is one of the most common tools that enables thieves to open fake accounts under your name. Unfortunately, this may result in you receiving a poor credit score and delinquent accounts appearing on your credit card reports.
Consider getting professional ID fraud insurance or protection if you notice unfamiliar names or other details in your credit card reports.
Tax Identity Fraud
Tax identity fraud happens when a stranger uses your personal information and SSN to file a tax return with the goal of obtaining a refund under your name.
Senior Identity Scams
Lastly, seniors are vulnerable to identity theft. Therefore, it’s crucial to warn the elderly in your life about possible scammers calling and pretending to be from the Medicare office or IRS. During these calls, con artists will also request passwords and confidential information. It’s also common for criminals to call and pretend they are family in trouble, asking for money.
Do you need identity theft insurance? MWE Partnership can assist!
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