Top Preventive Measures Against Identity Thefts

Although identity theft is a serious issue, many people tend to shrug it off as a first-world problem or a harmless act. This is the reason why the cases related to identity thefts are increasing at an alarming rate in India.

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Not only financially-responsible individuals need to take identity theft seriously, they also need to learn how they can prevent themselves from becoming a victim of the same through measures like:

1. Proper Discarding of Documents’ Photocopies:
   A large number of identity thieves carry out their operations by securing their target’s photocopies of important identification documents. This is mainly a result of the victim’s own negligence.
   Many people discard the unwanted/extra photocopies of their documents like PAN, Aadhaar, etc. which are then extracted by the fraudsters. Thus, it’s important that you destroy the copies (by shredding or some other method) before discarding. It’s also best if you can create the copies you need at your own home.
2. Credit Report Monitoring:
   Although monitoring of credit report is highly recommended for your good financial health, it’s also helpful in checking for frauds and identity theft. This is because if you identify transactions, loan inquiries, etc. on your credit report which you don’t recognize, these could be initiated by a potential identity thief, who can then be prevented from doing any damage.
3. Safe Internet Browsing:
   Internet/digital banking is slowing taking over the traditional banking methods. However, fraudsters have also started capitalizing on the same by fetching sensitive banking information from their victims through fake emails, website links, etc.
   To protect your bank account’s sensitive information from falling into the wrong hands, it’s important that you don’t share this with any email or website apart from the bank’s official one. It’s also important that you open the bank’s website by entering its address directly into the browser, and not through any link that’s shared via email, etc.

In most cases of identity thefts, prevention is the only way to prevent a loss of money and creditworthiness. Thus, staying vigilant is crucial.