Identity theft has been around for a long time and will probably stay in one form or another. With an increasingly high tech culture and reliance on the internet world over, types of online identity fraud have increased.
Consequently, this sort of environment makes it necessary for users as well as businesses to implement fraud prevention measures. Herein are detailed some ways on how one can prevent identity theft, online or otherwise.
Keep a Watch on your Mail
Often criminals and fraudsters look for your personal information in your mail and will steal your mail directly from the mailbox. Your regular mail may include your credit card and/or account statements, bills or any sort of identification that was supposed to be sent to you via mail service.
Other times a thief may go so far as to redirect your mail to their desired address by filing for a change in address at the post office. To avoid such scams one should be vigilant about collecting your mail regularly. Additionally, you should also beware if you are not receiving your regular mail or are missing any vital documents in your correspondence.
Implement Credit Monitoring
Credit monitoring and credit freeze or locks are some commonly implemented fraud detection measures you can put up to look out for any illicit activity. Such measures are put in place to alert the user if his/her accounts are being used for identity theft.
Credit monitoring services simply monitor or alert the user about their credit reports for any changes in name, address or any requests put forth for large amounts of credit. Credit freeze goes a step further to put a lock on a user’s credit reports until such a time the user wishes to lift it.
Fraud Prevention for Businesses
Fraud prevention is a necessity for not just end users but for businesses having any sort of online presence as well. Online fraud affects businesses the same way it does most individual users; by causing financial losses. For businesses to implement fraud detection and prevention techniques, it is important that they adopt Know your Customer (KYC) verification tools.
Many companies are now implementing KYC services through ID verification, document verification and address verification. This enables businesses to stay alert to whether their users are legitimate or are trying to commit fraud. Visit this link to find out more about fraud prevention.
Limit the Amount of Information you Share Online
If you are an avid social media user, you need to be careful about the amount and sort of information you share online. Although private accounts should be used with care as well, you need to be extra vigilant particularly if you have public accounts.
Be careful not to post detail about yourself like your phone numbers, account numbers, debit or credit card numbers or your social security number. Additionally, you should also be careful about posting information that may be the answer to the security questions of your bank accounts.