I recently attended an event, where another attendee shared a social media post which included a link to file a claim for the $125 Equifax settlement. As this individual filled in his personal information, he encouraged others to check their social media pages for a post from Equifax. I was shocked to see how willing this man was to submit his personal information without doing any research in regards to the link. Also, it was no surprise when I read an article a few days after attending the event warning consumers seeking the $125 Equifax settlement to be cautious of fake websites trying to steal their data. After reading the article, I posted it on my Facebook and Instagram pages, @liviakellyauthor.
It’s concerning that people have no problem giving their personal information to unknown sources when they receive social media post from family and friends. Is it because we trust our family and friends to research a post, making sure it is legit before sharing it, or are we just naïve regarding the risk of identity fraud?
Unfortunately, we live in a world where we are constantly vulnerable to identity fraud. Earlier this week, Capital One revealed that personal information of about 100 million bank customers in the U.S. was stolen by a hacker. Whether it's dealing with data breaches from credit card companies, your favorite stores, or a fake website trying to obtain your personal information, you must protect your credit.
To protect yourself from identity fraud, you may want to freeze your credit. A credit freeze is a FREE tool that lets you restrict access to your credit report, which makes it more difficult for identity thieves to open new accounts in your name. In order to freeze your credit report, you will need to contact each of the three credit bureaus (Equifax, Experian, and TransUnion). You’ll need to provide your name, address, date of birth, Social Security number, and other identifying information. After receiving your free request, each credit bureau will provide you with a unique personal identification number (PIN) that you’ll use if you choose to lift the freeze. A credit freeze remains in place until you ask the credit bureau to temporarily lift it or remove it altogether.
While a credit freeze is not a 100% guarantee you won’t be a victim of identity fraud, it does provide some peace of mind since most banks and lenders require a credit check before approving credit for a loan, vehicle, mortgage, credit card, or any other account requiring an application for credit.
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Livia Kelly is the author of UNMARRIED and DEBT-FREE. She provides basic, sound and useful information about achieving financial success on your own. Click on the HOME button at the top of this page to learn more.