Reports of identity theft went up 21% in 2024
People are now taking more steps to avoid identity theft after reports of the crime jumped in 2024.
More people say they are taking actions such as freezing credit, using apassword manager and paying for an identity protection service in 2024 than in 2023, according a survey of 1,013 general consumers bynonprofit Identity Theft Resource Center.
The biggest increase was among people paying for a credit or identity theft service, which monitors for unusual activity whenpersonally identifiable information enters credit applications, websites, public records and more.
Passkeys, a newmethodof identity protection, are also gainingwide adoption and can be very effective because they require people to enter a codelinked to a specific computer or web browser.
Still, reports of identity theft jumped to 52% in 2024 from 30% in 2023.
Data breaches are typicallythe causeof identity theft: Only 19% of those surveyed said they hadn't received a data breach notification in 2024.
And 49% of people said they had been the victim of identity theft two or more times in 2024.
Most identity crimes go unpunished and losses aren't recouped, largely leaving people alone to dealwith the financial and emotional damage.
Moreidentity theft victims reported losses at the extremes: Either losses of $500 or less or losses of $5,000 or more.
People contemplating suicide after identity theft dropped from a previous high of 16% in 2023 to 12% in 2024.
But those who considered self harm increased to 5% from 3%.
"We do know that the overall trend lines despite some improvements still reflect a reality that there are too many identity crime victims and too little support for them," saidEva Velasquez, chief executive of the Identity Theft Resource Center.
Security experts tell ConsumerAffairs there are plenty of steps people can take to avoid identity theft and data breaches.
How to avoid identity theft and data breaches
- Strong passwords: Create long and complex passwords and check if the service you are using requires them.
- Two-factor authentication: This will require two or more credentials to log in to an account, such as both your password and a one-time code texted to your phone.
- CAPTCHA: If companies require a user to enter a series of characters from an image to use services, this will slow down attackers.
- Passkeys: Passkeys authenticate logins between your computer and a service without using a username or password.
- Security certifications: Look for seals of approval, such as from the International Organization for Standardization, that a website follows best cybersecurity practices.
- Encryption: Check if a website uses encryption, such as SSL and the lock for HTTPS.
- Read news: A simple Google search can show if a company has been breached in recent years.
What to do after a data breach
- Follow the letter: Companies should send out a letter if you are a victim of a data breach. Read it carefully to get more details about what data was exposed and the steps the company recommends you take.
- Freeze your credit: Contact each of the three credit bureaus, Experian, Equifax and TransUnion, and get your credit frozen so a criminal cant open cards or other lines in your name.
- Credit monitoring: Sometimes, companies will offer free credit monitoring or other services after a data breach.
- Reset passwords and don't reuse them: Change your passwords and use different ones for services.
- Use a password manager: LastPass and services built into web browsers such as Google Chrome and Microsoft Edge can create and store strong passwords for you.
- Opt out of data collection: If you have the right in your state, you can email services you use to request they dont collect your data for the use by third parties.
- Request to have your data deleted: For services you dont use, ask to have your data deleted. California and other states have written this into law.
Photo Credit: Consumer Affairs News Department Images
Posted: 2024-10-31 02:55:29
