The spookiest season may have passed, but as we head into the holidays, one threat is still lurking: identity theft. This time of year, fraud and identity scams typically spike — and during chaotic or distracting seasons, scammers tend to take full advantage.
To help keep your information protected, here are practical ways to prevent identity theft, how to spot early warning signs, and what to do if your information is compromised.
Why Does Identity Theft Matter?
Identity theft happens when someone uses your personal information without permission. With enough stolen data, a thief can apply for credit in your name, access your accounts, file false tax returns, or impersonate you financially. Their actions can damage your credit, affect future loan approvals, and even influence employment opportunities.
Preventing Identity Theft
While no prevention method is perfect, several habits can significantly lower your risk.
- Protect personal information. Avoid sharing your Social Security number unless absolutely necessary, and limit personal details on social media — even harmless facts like pets’ names or hobbies can help scammers guess security answers. Never carry your Social Security card, and store sensitive documents securely.
- Shop only on secure websites. Provide payment information only on sites using https:// encryption. Avoid entering card details over public Wi-Fi, especially during holiday online shopping seasons.
- Be cautious with phone calls. Legitimate financial institutions will not ask for full account numbers or passwords over the phone. If you receive a suspicious call, hang up and contact your institution directly using the number you already have on file.
- Watch for charity scams. Scammers often impersonate nonprofits during the holidays. Before donating, search for the organization directly and verify legitimacy through tools like Charity Navigator or CharityWatch.
For additional tips, visit Addition Financial’s detailed guide on protecting your information.
How to Spot Identity Theft
The best defense is early detection. Review your credit reports frequently to confirm that all accounts and inquiries belong to you. During the height of pandemic-related fraud, reporting agencies began offering increased access — you can now pull one free credit report per week from Experian, Equifax, and TransUnion at AnnualCreditReport.com.
Check for accuracy in your personal information, especially if you have a common name, and verify that you recognize all accounts. Any unknown activity may signal that someone is using your identity.
If You Become a Victim
If you discover fraudulent activity, act quickly. Contact affected companies to dispute charges or close compromised accounts. Notify your own bank or credit union immediately — they can secure your accounts and add extra verification steps for future protection.
Next, consider placing a fraud alert. This free, one-year service alerts lenders that your identity has been compromised. Notifying one credit bureau requires them to notify the other two automatically.
You can also choose to freeze your credit. A freeze prevents lenders from pulling your credit, blocking new accounts from being opened in your name. Freezes are free and can be lifted whenever needed.
The Bottom Line
Identity theft is stressful, but with the right precautions, you can reduce your risk and respond quickly if something goes wrong. For more information, listen to Episode 3 of the Making It Count Podcast on Apple Podcasts, Spotify, or Google Podcasts.
Valerie Moses is a Senior Relationship Manager at Addition Financial Credit Union, where she oversees public relations and key partnerships across Central Florida. Outside of work, she shares lifestyle and travel inspiration on her blog, Wellness & Wanderlust, and hosts the podcast by the same name.
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