![]() Dark web monitoring – The dark web is where cybercriminals sell & buy private information online.Identity restoration help – Many fraud protection services actively work with you to restore your identity by dispensing experts to work with credit agency, government agencies, etc.These fraud protection services can help you more easily access these credit reports, identify fraudulent charges, as well as go through the credit reports with a specialist. Credi t Report Monitoring – Though average Americans are granted free credit reports every 12 months from the three major consumer reporting companies, culling through these reports can be cumbersome, and difficult to spot potential fraud.By monitoring your credit score, you can keep track of your overall financial health. It impacts whether you are even a candidate for certain purchases or investments such as apartments, homes, or vehicles. Credit Score Monitoring – While a credit card company might credit those charges or issue a replacement credit card, what happens if a cybercriminal opens and closes multiple lines of credit using your leaked information? You depend on high credit scores to secure optimal lending offers.Identity alerts – See if and where your name, birth date, contact information as well as other personal information are being used. ![]() However, what happens if your social security number gets leaked in a data breach? If you get alerts about where your social security number is being used, you can make sure that it is being used correctly and only by you. Social Security alerts – For better or worse, so much of your life is tied to your social security number, especially governmental, medical, and financial services.While the inherent value of fraud protection services is understood, the number of options offered by different companies can feel both overwhelming and confusing.īelow are the top options to look for in fraud protection: What to look for in Fraud Protection services Scanning the dark web to alert you if your information is being bought or soldĬertainly, you can hope for the best and eventually be contacted by an organization you interacted with a scary letter informing you that your private data has been leaked.Prevention of further abuse of your financials with security freezes or account locks. ![]() Negative credit reports from major credit bureau.Credit score fluctuations because of accounts opened or closed under your information.Though most banks and credit card companies will issue you a refund or recoup some of the verifiable fraud charges on your account, as well as replace your credit card if it was lost or stolen, they will very rarely assist you in more complex matters listed (but not limited to) below: However, fraud covers a whole lot more than most people realize. ![]() When you think about fraud, you might think about fraudulent credit card charges. The saying an ‘ounce of prevention is worth a pound of cure’ can not be more fitting than when thinking about fraud protection. While we await their official reports for 2022, we can see the upward and anticipated trend is apparent. The FBI reported that internet crime went from 791k reports/4.2B in losses in 2020 to 847k reports/6.9B in losses in 2021. Somewhere someone screwed up, or they got hacked, and now data about you is floating around the internet, and god knows where else.Īccording to the Federal Trade Commission, identity theft increased from 4.87M in 2020 to 5.74M in 2021 (last year’s 2022 report will be coming out soon). It seems inevitable to get a plain envelope from some company -you’ve worked for, frequented, or purchased from-announcing another data breach. I am now in the market for the best identity theft protection. “I almost got scammed over the phone by people posing as Social Security and the Drug Enforcement Agency. Just recently, Esther H shared this email: Worse, the scammers got into their bank accounts and steal before anyone knows what happened. We receive many messages from people with tragic stories about how they’ve been scammed.
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