How to protect yourself against Identity Theft & Credit Card Fraud

Identity Theft is a Personal Violation

Identity theft is a crime where someone has stolen another person’s information and then used that personal data in a fraudulent or deceptive manner. Most often, identity theft and identity fraud are committed for financial gain, according to the U.S. Department of Justice. Identity crimes may also be perpetrated by an identity thief trying to avoid legal or criminal actions against their own identity, or who is trying to steal benefits or services that rightfully belong to someone else. Tens of millions of Americans are victims of identity theft every year.

 

Learn How to Keep Your Identity Private

Individuals and businesses can each be victims of identity theft. It is not uncommon to wonder how to protect yourself from identity theft, especially with the sheer volume of personal data collected by organizations physically and digitally. You want to keep your identity private and protected, but it can be overwhelming when you consider all the places your personal information is kept, and all of the ways it can fall into the hands of an identity thief. The odds of identity theft are working against you every time there is another data breach.

 

Our personal information is everywhere. So are fraudsters.

We are all more connected than ever before throughout our digital and physical lives. Our personal information is in the hands of the government, social media sites, merchants, employers, financial institutions, healthcare organizations, and virtually anyone with whom we have a relationship. As technology advances, the digital blueprint of your identity gets more defined, and the malicious threats to your sensitive and personally identifiable information (PII) increase exponentially.

 

Identity theft is more than just an inconvenience

Identity theft is ugly. It’s emotionally and financially draining, and it’s a problem that can rapidly spiral out of control. Identity thieves steal your most personal information: your Social Security number, your financial and bank account information, essentially your entire digital footprint. Identity theft is not only a total invasion of your privacy, but it’s also a tremendous inconvenience that can steal hundreds of hours of your time to resolve.

 

Identity theft takes many different forms

There is no limit to the methods identity thieves may use to make your PII work to their advantage. Here are a few of the most common types of identity theft:

• Synthetic Identity Theft | When a person uses a real Social Security number to create a fake identity.
• Financial Identity Theft | When a person uses an assumed identity for personal monetary gain. This may include payment fraud and credit card fraud, including new account openings and account takeovers.
• Medical Identity Theft | When a person seeks medical treatment or prescription drugs under an assumed identity.
• Criminal Identity Theft | When somebody commits (non-identity related) crimes under someone else’s identity.
• Child Identity Theft | When the victim of identity theft is a minor. Child identity theft may go undetected for years, often until the child is of age to start obtaining credit of their own.
• Tax Identity Theft | When a person uses someone else’s Social Security number to file tax returns to steal tax refunds. It may also include the use of a stolen SSN to fill out W2’s, or file for government benefits.
• Social Identity Theft | When someone uses a person’s name and photos to create a fake account on social media.
• Unemployment Identity Theft | When an unemployment claim is filed using someone else’s personal information.
• Biometric Identity Theft | When a person’s finger, face, voice, or other physical indicator are stolen or spoofed to unlock a device or gain access to an account.
• Mortgage Identity Theft | Using someone else’s home to file for a home equity loan, second mortgage, or other loan using the real estate as collateral.
• Mail Identity Theft | When a person intercepts mail to aid in identity theft, credit card or gift card theft, stolen check cashing, or other financial fraud.
• Student Loan Identity Theft | When someone uses a child’s identity to file for fraudulent student loans, grants, or other student financial advances.
• Social Security Identity Theft | Using a lost or stolen Social Security card, or obtaining a Social Security number through other means, to commit identity theft, benefit theft, credit, or other financial theft.
• Driver’s License Identity Theft | When someone uses a person’s driver’s license to avoid a legal citation, gain access to an account, or otherwise misrepresent their own identity.
• Senior Identity Theft | When the victim of identity theft is a senior citizen. Seniors are the fastest-growing population of victims, and can often go undetected for years just like child identity theft.

 

If you have a social security number, you are at risk

Identity theft can happen anytime, anywhere — and to anyone. Everyone is at risk, even children under 18 years old. And, the threat to your identity privacy compounds as you get older.

• Children | About 1.3 million children are victims of identity theft annually, and 50% are younger than six years old. Child identity theft costs twice the average fraud amount compared to adults.
• College Students | The Federal Trade Commission reports that college students are about five times more likely to be victims of identity theft.
• Working Adults | Nearly 75% of identity theft victims are between the ages of 20 and 59, the prime working years.
• Seniors | Every four minutes, a senior citizen is a victim of identity theft. Those over age 80 experience the highest average financial losses of all age groups.

We understand that you want the best identity theft protection to combat all of the threats to your identity privacy and security, from the Dark Web to tax identity fraud, from medical identity theft to new account openings and account takeovers. Bitdefender is committed to protecting what matters most to our customers and will do everything in our power to ensure that you have control over your identity.

Early Warning Signs and Steps to Take

Tax identity theft often occurs in the form of a criminal using your social security number to file your tax return before you do and then walking away with your refund check. Most people don’t know they’re victims of tax identity theft until they file their own tax returns and the IRS rejects them. Be on the lookout for these warning signs of taxpayer identity theft from the IRS:

• You get a letter from the IRS inquiring about a suspicious tax return that you did not file.
• You can’t e-file your tax return because of a duplicate Social Security number.
• You get a tax transcript in the mail that you did not request.
• You get an IRS notice that an online account has been created in your name.
• You get an IRS notice that your existing online account has been accessed or disabled when you took no action.
• You get an IRS notice that you owe additional tax or refund offset, or that you have had collection actions taken against you for a year you did not file a tax return.
• IRS records indicate you received wages or other income from an employer you didn’t work for.
• You’ve been assigned an Employer Identification Number but you did not request an EIN.

 

Five Actions to take for victims of tax fraud

If you find yourself or someone you know to be a victim of tax-related identity theft, here are some steps you can take to mitigate your risk:

1. Contact the IRS immediately. If you receive a notice, respond immediately. You can also contact the IRS at 800-908-4490 so they can take steps to secure your tax account and social security number.
2. Complete and submit an IRS Identity Theft Affidavit. IRS Form 14039, Identity Theft Affidavit, is a fillable form on the IRS website and should be filled out if you try to e-file your taxes and they get rejected due to a duplicate filing. Fill it out, print it, attach the form to your paper return and mail everything to the IRS.
3. Don’t stop paying taxes. Even during a possible tax-related identity theft incident, keep paying your normal taxes and file your tax return by paper.
4. Contact the FTC. Once you’ve done everything you can to start resolving things with the IRS, contact the FTC and file a complaint via identitytheft.gov.
5. Place a fraud alert on your credit record. Contact one of the three major credit reporting companies (Equifax, Experian, TransUnion) to put a fraud alert on your credit report.

Unfortunately, even once you’ve taken all these steps, there are still ways for criminals to steal and use your identity – and new tax scams are emerging every year.

 

Protect your social security number and more
With Bitdefender’s Smart SSN Tracker feature, we’ll alert you if there’s an unfamiliar name, alias, or address associated with you or your child’s Social Security number (could be an indication of fraud).

The Rise of Medical Identity Theft

A vicious type of identity theft is on the rise: medical identity. It occurs when someone steals your personal information to receive free medical care, goods, or prescription drugs. Medical identities are 20 to 50 times more valuable to criminals than financial identities. That may explain why approximately 1.5 healthcare data breaches occur each week on average.

 

What happens if you become a medical ID theft victim

Medical identity theft can result in inaccuracies in medical records and costly false claims. It can also have life-threatening consequences. If a thief’s health information is mixed with your medical records, it can lead to a misdiagnosis or mistreatment. Misinformation in your records can plague your medical and financial well-being for years.

Remember, identity theft is a long-term crime. Fraudulent activity may not show up for six to 12 months or even longer. That’s why it is essential to continually monitor your personal identity.

 

Medical ID theft protection and comprehensive monitoring

Bitdefender Identity Theft Protection provides you with peace of mind around your medical identity by offering:

• Comprehensive identity monitoring of your medical accounts like your medical insurance identification number and rapid alerts of suspicious activity.
• A simple medical identity form giving you an easy way to secure a benefits payout report from your medical and health insurance companies.
• Protection under its nationwide $1 million master insurance policy with a special medical ID theft rider for victims of theft.

Even by taking every precaution, no one can prevent all identity theft. But if you become a victim, Bitdefender also gives you its “concierge-style” assistance in which certified identity theft specialists will write letters, make phone calls, and do whatever it takes to act on your behalf to fix any problems. Learn more about Bitdefender’s products and pricing here.

Children are Prime Targets for ID Theft

Children are increasingly victims of identity theft. Children are 51 times more likely to be a victim of identity theft than adults, according to a recent study by Carnegie Mellon University’s CyLab. In addition, it has been reported by Javelin Strategy & Research that more than 1 million children were targets of identity theft in a single year. Half of those child victims were under the age of six. And, the out-of-pocket expenses that hit these families totaled $540 million. Identity thieves are interested in children’s Social Security numbers because they are a blank slate; that is, they don’t have a credit history.

Untapped credit history and freshly-issued Social Security numbers make children prime targets for criminals looking to open new wireless accounts, bank accounts, and credit cards using the child’s personal information. Your child’s Social Security number can also be used by identity thieves to establish a fake identity with pieces of real information, known as synthetic identity theft — named the fastest-growing financial crime in the United States by the Federal Reserve.

 

Tips for Protecting Your Child’s Personal Information

The Federal Trade Commission has issued a helpful resource to aid understanding about how to protect your child’s Personally Identifiable Information (PII). Here’s a consolidated view:

• Understand where your child’s PII is stored; verify that school records are secure.
• Know how any PII information you provide on school forms will be used – and whether it will be shared, and with whom.
• Verify that school forms are updated and stored securely and whether it is indeed necessary to even provide PII about your child.
• Ask about the school’s directory information policy and what information about your child is included. You have the choice to opt out.

 

Be Aware: Data Breaches Becoming More Prevalent in Schools

It’s becoming more common for educational institutions to experience data breaches, and stories of real identity theft crimes targeting children are growing. Criminals can essentially get free range over your child’s identity for well over a decade. It’s not until your child tries to get their first job, enroll in college, or rent their first apartment will the fraudulent activity surface as part of their credit history.

Credit Card Fraud is not Identity Theft

When a fraudster obtains your credit card information, your credit card company may notify you first. Your account number may be updated and the credit card company will typically wipe out any fraudulent charges. You may even choose to exert a credit freeze, but that alone, won’t protect you from 80% of identity theft that may still occur.

Identity theft involves much more than a few fraudulent charges. Identity thieves can steal your personal information to open a new line of credit, open a new credit card, or obtain a false ID in your name. Unlike credit card fraud, there’s no safety net. That means you might end up paying for all the damage caused by an identity thief.

 

Key differences show a need for Identity Theft Protection

Identity theft has a much deeper impact, emotionally and financially than credit card fraud:

• It’s an attack on everything you’ve built. It’s much more than a few fraudulent transactions on a credit card statement. When your identity is stolen, thieves can use your personal information to cycle through any number of scams ranging from tax fraud to medical identity theft to new account openings.
• Our connected lifestyles put us all at risk. We’re all online and essentially connected everywhere, anytime. From phishing scams trying to gain criminal access to your personal identity to regular breaches online that compromise your identity security – technology is not just an enabler to make our lives easier, it’s why identity theft is so prevalent today.
• It hurts more than just your credit. Unlike credit card fraud, which can be caught quickly, identity theft is often impossible to catch early. Especially for children – when their personal information is attacked it can take well over a decade to uncover. For many identity theft victims, it can take years to unravel and fix the damage, not to mention the emotional and financial toll.

 

Be proactive and don’t let credit card fraud turn into identity theft

Alerts from your credit card company could be early warning signs that your identity has been compromised completely. Safeguard yourself against any level of danger, whether it’s just an annoyance or a large-scale risk and ensure you have the best identity theft protection and that you understand how proactive credit monitoring works. Bitdefender’s identity theft protection services offer tools to protect your personal information. And if credit card fraud ever escalates to identity theft, Bitdefender provides complete, comprehensive restoration and recovery services, with Certified Protection Experts who are U.S.-based and available 24/7 to get your good name back in order.

Account Takeovers are On the Rise

Fraudulent new account openings and account takeovers happen when a criminal takes your personally identifiable information, such as your email address, usernames, passwords, Social Security number, or snail mail address, to gain access to financial accounts. The fraudster can then have account communication rerouted, keeping you in the dark so that the theft can continue longer. Whereas with credit card fraud, a criminal has a limited amount of time to act.

 

Pay attention to financial statements, protect your account credentials

With account takeover fraud on the rise, now is the time to learn how to further protect yourself and your family. Here are a few tips:

• Be vigilant with usernames and passwords; don’t use the same credentials for multiple accounts.
• Change your passwords frequently (every few weeks if possible, or at least monthly).
• Use a password manager to help secure your accounts.
• Pay attention to your financial statements and ensure you are receiving them regularly.
• It’s still wise to balance your bank account monthly.

 

Protect your accounts and all your sensitive personal information

With Bitdefender’s maximum identity security at your fingertips, you’ll have the power to receive virtually real-time, proactive alerts when anything is happening around any component of your identity. We also offer complete security solutions that prevent malware from stealing sensitive data such as your username, password, credit card number, bank account details, or other sensitive data that you type on your PC keyboard.

There’s a difference between Credit Monitoring and ID Theft Protection

You may be wondering how credit monitoring differs from identity protection. Credit monitoring is one aspect of identity protection and only monitors changes to credit reports. And, once you see this change to your credit report, you can no longer minimize the impact of a potential fraud incident. Additionally, credit monitoring, won’t proactively alert you when new accounts are opened under your name – you’ll see it after the fact on your credit report.

Identity Protection monitors personal information in public records, social media networks, the Dark Web, and people search sites.

Another important difference is that credit monitoring is reactive. In other words, it only alerts you after fraudulent activity appears on your credit report which can be 30 days or more after the activity. However, identity protection can alert you when a new application is being submitted such as for a car loan, new mobile account, or home mortgage. It’s important to understand the core capabilities that make up comprehensive ID theft protection.

 

Credit Monitoring Isn’t Enough

Credit monitoring alone does not protect you, your family, and all those you care about from identity theft. People may think identity theft will not happen to them. Actually, everyone is at risk.

Enrolling in credit monitoring may make some people feel protected from identity thieves, but in reality – it’s not enough to provide you with complete peace of mind that your personal information is safe. Comprehensive ID theft protection includes proactive monitoring of all the critical components that make up your digital identity. Let us show you how Bitdefender Identity Theft Protection powered by IdentityForce, the #1 consumer-rated identity theft protection service can help you protect what matters most.

 

Bitdefender for both Credit Monitoring + ID Theft Protection

Bitdefender Identity Theft Protection is built upon IdentityForce, a leading provider of proactive identity, privacy, and credit protection for individuals, businesses, and government agencies. Additionally, with Sontiq Restoration built into our identity theft protection products, our subscribers receive full, white-glove restoration services to reduce the damaging effects of all types of fraud, theft, misuse, and unintended exposure of personal and financial data.

Here’s what you also get, in addition to our Credit Monitoring services:

• Social Media Identity Monitoring | We live on social media so it’s critical to receive alerts indicating inappropriate activity and posts.
• Public Record Monitoring | From changes to your address to court records, you’ll know if your public information has been compromised.
• Dark Web Monitoring | Scours thousands of underground websites, chat rooms, and blogs for any compromised personal information.

Our Connected worlds put us all at Risk

Your personal information is everywhere. So are the criminals who want it. You’re not able to watch anything 24/7, so how can you ensure that your personal information is always being protected?

Credit card monitoring isn’t nearly enough. Being alerted of a fraudulent transaction by your credit card company isn’t going to tell you how a thief may have already applied our personal information to commit identity theft – from tax fraud to medical records being compromised to new account takeover fraud, to having loans being taken out under your children’s social security numbers. It’s also not going to tell you if your personal information is being bought and sold on the dark web.

Approximately 1 out of every 4 adults are victims of ID theft and witness an average loss of about $3500 in each instance. The damage of ID theft can be devastating and the fall-out hard to contain.

Some of the ways your personal information can be obtained may surprise you. Everyday transactions such as credit card purchases or using an ATM are opportunities for theft. Just browsing on the Internet can heighten your risk. Or, completing some school forms for your child.

 

10 Tips for Protecting your Identity

Bitdefender Identity Theft Protection offers the best security, identity, privacy, and credit solutions to get the job done. With our identity theft protection service, you are protected continuously as we scan the dark web, monitor new account openings, and alert you of any suspicious activity against your identity.

Outside of selecting the best identity theft protection service, we regularly provide guidance to our customers on what they can do to safeguard their personal information. Here’s what we recommend:

1. Watch out for Phishing Scams	Stop clicking randomly. Hackers put out links to lure people into clicking, to trick you into giving them your personal information. So be vigilant. Fake emails can look real, always be cautious when something doesn’t seem right. If you’re not sure of the validity, email the requester directly and confirm before sending files or clicking on links.
2. Create Strong Passwords	No two passwords should be the same. Remember, the most unhackable passwords are 12 characters consisting of random strings of upper and lower-case letters, numbers, and symbols. Be original and use more than one word, swap out letters for numbers or other characters (such as 3 for E or ! or i), and vary capitalization. Another great security asset is a password manager, which enables you to create a unique and strong password for every secure website. Great for personal and business use!
3. Avoid Over-Sharing Online	Social media isn’t private. Facebook, Twitter, and LinkedIn have all had massive data breaches in recent years. Be mindful of what you share and keep your privacy settings locked down.
4. Beware of Public Wi-Fi	If you absolutely must use public Wi-Fi for sensitive transactions, use a Virtual Private Network (VPN). VPN masks your IP and encrypts your traffic. At home ensure your Wi-Fi is secure.
5. Use IT best practices at home & work	Although everyone hates getting a forced update, make sure to stay current with your operating system and security patches and be sure to have an active antivirus software running in the background. Bitdefender provides award-winning cybersecurity solutions you can trust and rely on. At home, doing an annual operating system reinstall will clean things up, speed up your computer, and get rid of bloatware. At work, ensure your security policies include standards around requiring regular system maintenance and upgrades.
6. Know Your HTTPS	If you’re going to sign in to a website that has http instead of https in its URL, realize that no “s” means the site is not secure. This doesn’t mean it’s malicious, but an “s” is a sign of security reassurance.
7. Use 2FA	Two-Factor Authentication (2FA) is one of the best security methods. It adds an extra layer of security to your accounts, requiring a one-time code sent to your phone or email address prior to login. Set up 2FA on all your online accounts: email, social media, etc.
8. Store and transfer data cautiously	Encrypt flash drives or files. Think about what would happen if they were left on a plane or fell into the wrong hands. Shed the unwanted risk of computer files you no longer need by deleting excess clutter.
9. Use Credit Card Chips	Try to make sure that you are using credit cards that have chips, both at work and personally, as they are more secure than swiping.
10. Eliminate the paper trail	Shred any papers with account information, social security numbers, and other identifying information, along with credit card offers, bank courtesy checks, and documents with your signature.

 

 

Maximum Identity Security, protection that works
We are committed to helping individuals, families, employers, and our partners protect personal information and remove the emotional stress and hardship identity theft can have on people everywhere.

Learn more about Bitdefender’s products and pricing here.