10 Best Identity Theft Protection Tips

You probably know that identity theft occurs when a criminal takes personal information—like your name, Social Security number, birth date, or mother’s maiden name—and uses it to commit fraud. According to a Javelin report, 14.4 million consumers were identity theft victims in 2018.

Fortunately, the number of ID theft cases is trending down due to technology, such as embedded chips in credit cards. However, the out-of-pocket costs of being a fraud victim more than doubled between 2016 and 2018 to $1.7 billion.

The out-of-pocket costs of being a fraud victim more than doubled between 2016 and 2018 to $1.7 billion.

Once a thief has your confidential data, they can use it in surprising ways—filing false tax returns, submitting bogus health insurance claims, getting fake driver’s licenses. But it’s more common for a thief to empty your bank accounts, make charges on your credit cards, or open new credit accounts and then never pay. That could leave you with a massive financial loss and seriously botched credit reports.

10 Best Identity Theft Protection Tips

1. Understand how criminals get your data
2. Carry less data in your wallet
3. Limit your debit card use
4. Destroy documents with personal data
5. Make your finances paperless
6. Protect your devices
7. Notice the warning signs of identity theft
8. Keep an eye on your credit reports
9. Freeze your credit
10. Remember that kids can be identity theft victims

Let's take a look at the best ways to avoid becoming an identity theft victim.

1. Understand how criminals get your data

The best way to limit your chances of becoming an ID theft victim is to understand how criminals get your personal information in the first place.

Stealing: A thief can take your wallet, purse, credit card, or personal documents the old-fashioned way, by snatching them when you’re not looking.

Dumpster diving: This dirty pastime involves rummaging through trash bins looking for bills, statements, or other documents with confidential information.

Skimming: A skimmer is an electronic storage device that can be used (or installed on a card payment slot) to steal your debit or credit card number.

Database access: Corrupt employees can steal personal...

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