It may come as a paradox that someone is using your personal details without your express authority but the report from Federal Training Commission indicates that you can be a victim. Over 10 million citizens are reported to be victims of this crime annually. Credit monitoring strategies have been developed to prevent the occurrence of such crime in the financial market.
The revolution in the digital world has led to the rise in cyber crime and computer hackers have taken advantage of a few hitches in the internet to access your address, credit card details and your social security number. Major credit reporting agencies are now on the look and have developed tools to detect all forms of crime promptly and make the necessary deterring measures.
The agencies monitor your information through a number of technologies to detect an initiation of theft of your identity. If anyone attempts to apply for an account using your details, a notification is sent to the agency who in turn lodges an investigation to bring it to halt the act. This will also apply to unauthorized use of credit cards.
You can combine a number of agencies to take note theft. In most cases, the recommended combination is of three bureaus and will be impossible for a hacker to pass their security measures since they use different technology to protect unauthorized access. One will be alerted if any of the bureaus is suspicious of a criminal act.
The monitoring will also provide you with a detailed history on the credit reports. The reports that have been observed for a year will give expenditure details that can enable you detect errors and omissions in the statement. The agencies will also close dormant accounts to deter access to personal information.
In addition to observation of your details, you should enhance other security measures to curb crimes on the security issues. You should not respond to unsolicited emails that will require personal details and all the documents containing your information need be shred to small pieces. Your password should be a secret and unique to avoid the ability to guess by hackers.
It is important to prevent your personal information from access of unwanted people because they can use it to commit crimes of all manners. Credit monitoring will therefore ensures that cheaters will not use your details at any cost. The risk identity theft cannot march the fee charged; it is much higher.
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