7 Simple Steps to Protect Yourself from Identity Theft

We all work hard to protect ourselves online and keep our information safe. But unfortunately, identity theft still happens. In 2018, there were 14.4 million victims of identity theft. According to Javelin Strategy, the average loss per person was $1,050—and that's just the monetary cost. When an individual's identity is stolen, recovering financial health can take months—or even years.

Luckily, there are steps you can take to prevent yourself from becoming the next statistic.

1. Monitor your credit

   Knowledge is power—the more you know about your credit report and credit score, the easier it is to quickly recognize suspicious activity. Check your credit score for free on the Mountain America app or at CreditKarma.com. Get a free annual report from each of the three credit reporting agencies at AnnualCreditReport.com.

2. Beef up your passwords

   When banking online—or using any other service that utilizes sensitive information—your password is the first line of defense to your account. Create strong, unique passwords for every account and never use identical passwords for multiple accounts. When available, use multi-factor authentication for added protection.

3. Use a VPN app

   Public Wi-Fi is a necessary evil—it’s a convenient way to stay connected, but it can leave you vulnerable to cyber-attacks. The best way to be sure that you, your information and your devices are safe while using public Wi-Fi is by using a Virtual Private Network (VPN) instead of your default Wi-Fi. Here are some good options.

4. Upgrade your devices

   All your devices (computers, tablets and phones) should have the most up-to-date software to ensure its protection. Upgraded systems will help to keep your electronics protected from the latest security threats and offer you added safety from viruses and hacks.

5. Shred old documents

   It seems a bit old-school, but shredding is still an important step in protecting your sensitive information. Some criminals rely on trash to find the information they need to steal your money. If it’s got your name on it and you don’t need it, it should go through a shredder before it goes in the garbage.

6. Keep it personal

   Always be cautious about sharing any personal information, like your Social Security number or banking PIN. Although most identity theft happens online, many criminals still use basic methods—like emails and robocalls—to get access to your information.

7. Invest in identity theft protection

   Still feeling nervous about identity theft? In addition to these safe practices, investing in a service that watches out for you is well-worth the subscription cost. These services scan the internet for your personal information and immediately alert you of any suspicious activity. They also help you restore your identity if you become a victim of identity theft. If you’re a Mountain America Credit Union member, take advantage of identity theft expense reimbursement which is a benefit included with MyStyle® Checking accounts.

Identity theft can be a nightmare—and an expensive one at that. Stay on top of your protection and take measures to keep your information and money safe.