Steps to protect yourself from Identity Theft

Identity theft is a serious issue and situation is getting even worse. From the reports of previous years, it has been noticed that there has been a 50% increase in the cases of identity theft. (William (2017))

Once a hacker gets the hold of your identity he can easily rack up thousands of dollars on your name using illegal methods. It is important that you protect yourself from such frauds and maintain your good reputation. Here are some old and new ways you can use to protect yourself from identity theft.

Traditional Methods

> Monitor your accounts

You should always review your accounts and if you notice any suspicious activity it is important that you inform the authorities. Their immediate action can protect you from a major loss.

> Have a password management system

Recently, a password management system has been introduced. It will keep all your passwords protected as well as you will get a reminder every month to change your password (Tim(2017)). In this way hackers will not get a chance to get into your system. You will not have to remember several passwords because the system will show you the password you require.

> Do not be too social

Social media is rapidly flourishing, and you do not know the person you have in your friend list is a hacker or not. Sharing your personal information on social media can be really dangerous. They can use your little information to steal your identity and things can get really serious. (Tim (2017)

> Never leave a paper trail

A common mistake that most of the individuals make is they leave a paper trail that works perfectly for the hackers. Most of the professional hackers will check your previous history to get information about your accounts and transactions. It is important that you remove all your previous history whether you have it in the paper form or stored digitally. When you will remove paper trail hackers will not get a chance to reach you. (William (2017))

Blockchain Technology

Blockchain Technology is the recently introduced technology that is providing a way to manage our accounts and money digitally. It is providing better protection than credit cards and cash. Once you get your money converted into bitcoin you will get the following security facilities.

  • You can have encrypted wallets in which you keep your bitcoins. It will provide you the facility to transfer funds and use the other for your transactions. (David (2013))
  • You will get unique private keys which act as your digital signature, do not share them with anyone to protect your privacy
  • Keep your office wallet key stored in any offline medium like USB (David (2013))

You can select the method that you are more comfortable with. As technology is advancing it has become hard to protect yourself from identity theft but you should never stop trying.

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