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Post: SEI Monthly Security Tips – Fast Facts on Identity Theft

Check out SEI’s latest Monthly Tech Tips release below:

Identity theft, like virtually all forms of cybercrime, has seen a resurgence during the COVID-19 crisis. And while everybody knows about the harm ID theft can cause, many computer users fail to address the basics. Here are some things to be aware of:

Identity theft is the fastest growing crime in America. On average, each victim spends 100 to 200 hours over a six-month period trying to resolve an identity fraud issue. While the common conception is that identity thieves are online scammers, evidence indicates that up to 50% of all reported cases involve theft committed by a neighbor, co-worker, or family member. Most cases can be resolved with minimal long-term impacts if they are caught early.

What’s considered personal information

  • Social Security number
  • Driver’s license number
  • Credit card numbers
  • Bank account numbers
  • Birth certificate
  • Tax information
  • Employee Identification number

Common types of ID theft

  • Financial
  • Insurance
  • Medical
  • Criminal
  • Social Security
  • Synthetic (in which thieves “create” a consumer using details stolen from others)
  • Child

Prevention tips

  • Create a unique password for each of your accounts and devices to limit the risk of having multiple accounts compromised at once.
  • Change your login passwords on a regular basis, and don’t store them in your email or cloud storage services, which a hacker can potentially access. However, many experts do recommend using a digital password manager.
  • Avoid sharing sensitive information such as credit card or Social Security numbers through texts, emails, or chats.
  • Never use public networks to conduct online financial transactions.
  • Remember to log out of personal accounts opened on public devices.
  • To keep your personal devices up to date, install the latest versions of the operating system and antivirus software.

Source: SEI Monthly Tech Tips “Identity Theft”

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