![]() ![]() By paying for identity protection services, you get 24/7 monitoring of your accounts that can lead to the discovery of the signs of fraud right away. If you have been wondering how identity theft destroys your credit score and looking for a way to prevent it, your best bet is to sign up for ID theft protection with one of the providers we highlighted in this guide. How to Protect Yourself from Identity Theft Many ID theft services contact their clients through email alerts, but some will send fraud alerts via text or their mobile app. Consumers can use both of these platforms to keep an eye on any changes to their credit reports or to find out if anyone is trying to withdraw money or open a new account in their name. Most identity theft protection companies offer an online dashboard, and many also have their own mobile app. ![]() While consumers can still lean on old-fashioned identity theft protection strategies like checking their credit reports for errors (or more modern cybersecurity strategies such as enabling two-factor authentication), an ID theft company will work on their behalf around the clock and notify them of suspicious activity. Generally speaking, consumers pick a plan that applies to themselves and their family members, and they begin enjoying ID theft protection right away. Common inclusions in ID theft prevention plans include credit bureau monitoring, dark web monitoring, Social Security number monitoring, social media monitoring, identity theft insurance, real-time bank account monitoring, fraud alerts, and even malware protection or antivirus software. ID theft protection companies offer plans that include various levels of protection from fraud. The report also shows that total identity fraud losses climbed to $56 billion (USD) in 2020 and that hackers and identity thieves have increasingly moved toward contacting their victims directly to ensnare them.Īs the report from Javelin says, “a noteworthy characteristic of identity fraud scams is that consumers often recall the moment they interacted with a criminal through a text, call, or email.” How does ID Theft Protection Work? The 2021 Identity Fraud Study from Javelin revealed that fraudulent activity and data breaches cost consumers $43 billion in losses in 2020 alone. Unfortunately, identity theft is becoming more costly each year, and fraudsters are still finding new ways to get their hands on personal details, such as your driver’s license or SSN, which they can use to commit fraud. Not only can ID theft damage your credit file, but it can cause victims of identity theft considerable stress as they work to restore their identity. They may use that information to apply for a credit card or payday loan in your name, or they could file your tax return and try to get your refund. What is ID Theft?Īccording to government resources, identity theft takes place when someone steals your personal information to commit any type of fraud. Keep reading to learn how identity theft works, how identity theft companies can help you prevent fraud, and what to do when your identity is stolen. Whether your goal is avoiding identity theft scams online or securing some identity theft protection insurance, the best identity theft monitoring services can help you along the way. Protect Your Identity Identity Theft Guide Click below to begin protecting your identity. Identity Guard offers comprehensive Identity Theft Protection Software at a great price. Up to $1 million in coverage for stolen funds from a 401(k) or HSA $1 million in coverage for identity theft $1 million in coverage for identity fraud $1 million in coverage for stolen funds reimbursement $25,000 to $1 million in coverage for stolen funds reimbursement $1 million in coverage for lawyers and experts $1 million in coverage for stolen funds reimbursemen *Family plans are also offered at slightly higher rates *Family plans are also offered at slightly higher rates. ![]()
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