Our Tips for Protecting Yourself from Identity Theft

A person wearing dark gloves types on a laptop in a dark setting, with The First Pioneers Federal Credit Union logo appears in the upper left and the text ‘Our Tips for Protecting Yourself from Identity Theft.’

Identity theft happens when someone gets hold of your personal information, such as your Social Security number, bank account number, or credit card details, and uses it without your permission.

This could mean a stranger opening a credit card in your name, draining money from your checking account, or filing a tax return using your Social Security number before you get the chance to file it yourself.

Criminals can get your information through several methods, including phishing emails, stolen mail, or even a quick glance over your shoulder at an ATM. Some of these tactics may seem obvious once you know what to watch for, while others can be harder to spot.

In this post, we’ll cover how identity theft typically happens and what you can do day to day to lower your risk. We’ll also go over how to monitor your accounts, so if something does slip through, you can catch it early instead of finding out months later.

How Identity Theft Happens

Before you can protect yourself, it helps to know how criminals can get your information. Broadly, these threats fall into two categories: online and offline.

Online Threats

  • Phishing emails and text scams. These messages are made to look like they come from your bank, a delivery company, or even a coworker. They often ask you to click a link, confirm your account information, or pay a fee for something you never ordered. The sender’s email address may be slightly different from the company’s genuine address, which can be a sign that the message is not legitimate.

  • Fake websites. Some scammers create websites that closely copy a bank or retailer’s site, including its logo and color scheme. If you enter your login information on one of these sites, you could be giving it directly to the scammer.

  • Data breaches. Companies can be hacked, including large retailers, hospitals, and government agencies. When this happens, your name, address, and account information may be exposed. In some cases, you may not find out about the breach until months later.

  • Malware and spyware. These programs can get onto your phone or computer through a suspicious download or a link you clicked without realizing the risk. Once installed, they may track what you type, including passwords and account numbers, without you knowing they are there.

Offline Threats

Not every threat happens online. Criminals still use more traditional methods, and some can be easy to overlook.

  • Stolen wallets and mail. A missing wallet can give someone access to your driver’s license, credit cards, and possibly even your Social Security card. Stolen mail can also expose bank statements, pre-approved credit card offers, or tax documents.

  • Dumpster diving. Some people search through trash for bank statements, old bills, or other documents that contain your name and account number. Throwing these papers away without first destroying them can leave your information exposed.

  • Skimming devices at ATMs and gas pumps. These small devices can be attached to card readers to copy your card information when you swipe or insert your card. They are often made to blend in with the machine, so they can be difficult to spot unless you know what to look for.

  • Shoulder surfing. This happens when someone stands close enough at an ATM or checkout counter to watch you enter your PIN. It is an older method, but it can still put your account information at risk.

Read also: Scams & How to Keep Yourself Safe

Best Practices to Protect Yourself from Identity Theft

Now that you know where these threats come from, let's look at what you can do to lower your chances of becoming a target.

Strengthen Your Passwords

Using the same password for every account gives a criminal one opening into everything you own online. If one account gets breached, every other account using that password is now at risk too. A few habits to build:

  • Use a different password for every account, especially your email, bank, and any account with your payment information saved.

  • Use a password manager. These tools generate and store complicated passwords for you, so you only need to remember one master password.

  • Combine upper and lowercase letters, numbers, and symbols, and avoid anything obvious like your birthday or your pet's name.

Enable Multi-Factor Authentication (MFA)

Multi-factor authentication, or MFA, adds a second step to logging in, usually a code sent to your phone or generated by an app. Even if someone gets your password, they still cannot get into your account without that second code.

Turn MFA on for your email, banking apps, and any account tied to your finances. It takes a few extra seconds each time you log in, a small trade for keeping people out of your accounts.

Be Cautious with Emails and Messages

Phishing attempts rely on you acting fast without stopping to check. A few things to watch for:

  • Urgent language, like "your account will be suspended" or "click now to avoid a fee."

  • Email addresses that almost match a company's genuine one but have extra letters or numbers.

  • Links that do not lead where they claim to. Hover over a link before clicking to see the address it points to.

If an email or text asks for your Social Security number, PIN, or password, do not respond. Banks and credit unions will not ask for that information over email or text.

Secure Your Devices

Your phone and computer hold a large amount of your personal information, so protect them much like you would protect your wallet.

  • Keep your software updated. Updates often fix security weaknesses that criminals could use to gain access to your device.

  • Install antivirus protection on your computer and keep it running in the background.

  • Lock your devices with a PIN, password, or biometric login, such as a fingerprint or face scan. That way, if your phone is lost or stolen, your information is not immediately available to someone else.

Protect Your Personal Information

Your personal details can be useful to criminals, so be mindful of where you share them and how you dispose of them.

  • Watch what you post on social media. Your birthday, address, or vacation dates can give criminals pieces of information they may use to guess passwords or answer security questions.

  • Shred documents that contain your Social Security number, account numbers, or other personal details before throwing them away. Avoid putting these documents straight into the trash.

  • Secure your mailbox. If you have a cluster mailbox or one without a lock, consider using a P.O. box or asking about a locking mailbox, especially if you know you will be away for an extended period.

Use Secure Networks

Public Wi-Fi at coffee shops, airports, and hotels may not be secure. If you log into your bank account or enter a credit card number while connected to public Wi-Fi, someone else on the same network could potentially intercept your information.

For anything involving your accounts or payment details, we recommend using a network you trust or switching to your phone’s data connection.

Monitor Your Financial Accounts

Even with the precautions above, keeping an eye on your accounts can help you spot identity theft early.

Check Your Bank Accounts Regularly

  • Review your transactions often, rather than waiting until your monthly statement arrives. A quick check of your banking app every few days can help you spot a charge you do not recognize before it becomes a larger issue.

  • Set up account alerts through your bank or credit union. Most will send you a text or email when a purchase goes through, a withdrawal is made, or your balance drops below a certain amount.

Monitor Your Credit Reports

You are entitled to a free credit report every year from each of the three major credit bureaus: Equifax, Experian, and TransUnion. You can request this report in several ways, including through AnnualCreditReport.com or contacting each bureau directly. Review your reports for anything unfamiliar, such as an account you did not open or a credit inquiry you do not recognize.

Consider Identity Theft Monitoring Services

Some banks, credit unions, and third-party companies offer monitoring services that watch your credit reports and personal information for signs of unusual activity. These services typically send you an alert when something changes, so you can review the activity sooner rather than discovering it weeks later.

Read also: Don't Fall for These Common Credit Myths

Conclusion

Identity theft is not something you can address with one step and then forget about. It takes ongoing attention to your accounts and personal information. If you spot something unfamiliar on an account or credit report, act on it as soon as possible.

At First Pioneers, we emphasize the importance of protecting your identity and helping our members understand the steps they can take.

We are committed to offering financial products as well as financial education to our members in 11 parishes across Acadiana and Southwest Louisiana: Acadia, Beauregard, Calcasieu, Cameron, Iberia, Jefferson Davis, Lafayette, St. Landry, St. Martin, St. Mary, and Vermilion.

If you have questions about protecting your accounts or our products and services, call one of our branches in Lafayette or New Iberia to learn more about how we can assist you.

Dian Puspasari