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What is identity theft and how can you detect it? Source TOI
This Published Blog - 17 September, 2024

What is identity theft and how can you detect it?

Identity theft is a pervasive and distressing form of cybercrime wherein an individual's personal information is stolen and misused for fraudulent activities. Perpetrators obtain crucial details like PAN, Aadhaar, credit card information, or passwords to impersonate the victim, leading to financial losses.

 

Detecting identity theft early is vital to mitigate its damaging consequences. Here are several indicators that may suggest you are a victim of identity theft:

  • Unexplained Financial Transactions: Review your bank statements and credit reports regularly for unfamiliar or unauthorized transactions. Any unexplained withdrawals, unfamiliar charges, or sudden changes in credit score could signal potential identity theft.
  • Missing Mail or Bills: If your regular bills or important mail suddenly stop arriving, it could indicate that a fraudster has changed your address to intercept sensitive information.
  • Rejection of Legitimate Transactions: Unexpected rejection of loan applications or credit card approvals despite a good credit history might signal that someone else has tampered with your credit.
  • Unexpected Calls or Messages Regarding Accounts: If you receive notifications about account changes or transactions you did not initiate, it's crucial to investigate further.
  • Unusual Account Activity or Statements: Check for discrepancies in your account statements or activities. Instances of unknown accounts being opened in your name or sudden changes in account information should raise red flags.

To detect identity theft promptly, it's crucial to remain vigilant and proactive:

  • Regularly Monitor Financial Accounts: Check your bank statements, credit card bills, and credit reports regularly for any irregularities.
  • Enroll in Identity Theft Protection Services: Consider signing up for identity theft protection services that provide real-time alerts for suspicious activities related to your identity.
  • Shred Sensitive Documents: Dispose of old bills, financial statements, or any document containing personal information by shredding them to prevent dumpster diving.
  • Be Cautious with Personal Information: Avoid sharing sensitive information online or over the phone unless you are certain about the legitimacy of the request.

By staying alert, monitoring financial activities, and promptly reporting any suspicious signs, individuals can better protect themselves against the devastating effects of identity theft.

Source TOI. Published in www.msn.com on 17.09.2024.

 




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