Despite advancements in technology and online security, identity theft continues to be a significant issue in the United States. According to the Identity Theft Resource Center, 278 million records were exposed in 2024, arising from over 2,300 data breaches.
In Q3 2024 alone, there were 812 compromises across various sectors:
- Financial services: 29% of breaches
- Healthcare and hospitality: 18%
- Government: 4%
- Education: 6%
These figures emphasize the ongoing vulnerabilities in data security and the need for vigilance in protecting personal information.
How to Know if Your Data Has Been Compromised
- Notification from a company: Most companies notify affected individuals via email or mail after discovering a data breach. Notifications typically include details about the compromised information, such as your name, email address, username, password, Social Security number, and financial account numbers.
- Signs of fraudulent activity: You may notice unauthorized charges on your credit or debit card or receive communications about accounts you didn’t open. These could indicate your information was compromised in a breach, even if the company has not notified you or the breach has gone undetected.
Steps to Protect Your Identity After a Data Breach
- Change your passwords: If your password was exposed, update it immediately. Use strong, unique passwords for each account and avoid reusing similar ones across platforms.
- Sign up for free credit monitoring: Many breached companies offer free credit monitoring services, which alert you to new information on your credit report. While helpful, do not rely solely on these services. Take additional steps to secure your identity.
- Place a fraud alert on your credit report: Contact one of the three major credit bureaus—Equifax, Experian, or TransUnion—to place a fraud alert on your credit report. This alert notifies creditors to verify your identity before issuing new credit in your name. The alert will automatically extend to the other two bureaus.
- Review your credit reports: Examine your credit reports for unusual activity. Pay special attention to:
- Credit inquiries: Ensure all inquiries were initiated by you.
- Active accounts: Verify that all accounts listed were opened by you.
If you spot fraudulent accounts or inquiries, contact the financial institution and the credit bureau to report them.
- Consider a security freeze: If you suspect someone is actively using your information to open accounts, place a security freeze on your credit reports. This prevents new accounts from being opened unless you temporarily lift the freeze.
- Monitor your existing accounts: Regularly review your bank and credit card statements for unauthorized transactions. If you notice suspicious activity, report it immediately to your financial institution. They may issue a new account number to protect your funds.
- Be wary of phishing attempts: Avoid sharing personal information in response to unsolicited calls, emails, or texts claiming to be from your bank or other institutions. Instead, contact the institution directly using the official phone number or website to verify the request.
Additional Tips for Protecting Your Identity
- Secure online accounts: Use strong, unique passwords with a mix of letters, numbers, and symbols. Enable two-factor authentication (2FA) whenever possible for added security.
- Beware of suspicious emails and links: Avoid clicking on links or downloading attachments from unfamiliar senders. Even if an email appears to be from a known contact, verify its authenticity, as their account could have been compromised.
- Monitor your credit reports regularly: Federal law allows you to request one free credit report per year from each of the three major credit bureaus through AnnualCreditReport.com. Consider staggering your requests throughout the year to keep consistent tabs on your credit.
- Use secure Wi-Fi networks: Avoid using public Wi-Fi for sensitive transactions. If necessary, use a virtual private network (VPN) to encrypt your connection.
Staying Vigilant
With the rise in data breaches and identity theft, staying vigilant is critical. By promptly addressing signs of compromised data, monitoring your accounts, and securing your personal information, you can reduce the risk of falling victim to identity theft. While no system is foolproof, proactive measures can provide peace of mind and better protection for your financial and personal information.