Identity Theft: What It Is and Tips to Prevent It

Key takeaways

 

1. Understanding Identity Theft: Knowing what identity theft is and how it impacts millions is the first step to protection. Learn about the latest statistics and the common victim profile to be better informed.

2. Warning Signs: Identify the signs that your identity may have been compromised, such as unrecognized bills or strange information on credit reports, to take swift action.

3. Prevention Tips: Adopt security measures like strong passwords and two-factor authentication (2FA) to bolster your defense against identity theft.

4. Didit as a Solution: Discover how Didit leverages decentralized technologies to humanize the internet and provide a sovereign identity, safeguarding your personal information and lowering the risk of identity theft.

Identity theft is one of the main problems we encounter on the internet. This misappropriation involves taking over another individual's data, assuming their identity, usually to gain an economic benefit. It's a serious issue that can have severe consequences for the victim.

The numbers speak for themselves. In 2024, the FTC (Federal Trade Commission of the United States) reported 1.4 million cases related to identity theft, whose economic damages have doubled compared to 2023, amounting to 10.2 billion dollars, according to recent reports.

The Profile of the Stolen Identity

It's estimated that a new case of identity theft occurs every 22 seconds. Just in the United States, it's estimated that one in three inhabitants have experienced some form of identity usurpation. The most common profile are men aged 30 to 39, and Georgia is the American state with the highest rates of identity theft and fraud.

But this is a global issue. For example, the United Kingdom has seen identity fraud skyrocket, while the trend in the rest of Europe is similar or even worse. The result is millions of dollars in economic losses and personal damage that is difficult to resolve.

How Can I Tell If My Identity Has Been Stolen?

Victims of identity theft often take a week to realize the usurpation, enough time for criminals to misuse a stolen identity. Therefore, we might not be initially aware of this issue, although we should be suspicious if any of the following situations occur:
 

• We receive bills for products or services we have not contracted.
• We are asked to pay debts we have not acquired.
• Strange and unrecognizable information appears on the credit report.
• Loan applications are unjustifiably rejected.
• Missing emails.

Once we identify any of these signs, we must contact the relevant authorities to report identity theft.

Tips to Prevent Identity Theft

Can we do something to prevent identity theft? Certainly, here are some tips to make it harder for criminals and better protect your digital identity.

Use Secure Passwords

Passwords are often our access key to many services, so creating strong and secure passwords is essential for our information's security. Avoid using predictable passwords and create combinations of letters, numbers, and symbols that are difficult to decipher.

Enhance Security with 2FA

Two-factor authentication is crucial for protecting the information stored in different services. Many platforms incorporate it through SMS or external platforms that generate temporary codes. Activating it enhances the security of our profile.

Be Cautious of Suspicious Internet Content

The internet poses many threats to our digital identity. From Trojans included in files we download to phishing, or QR codes we need to be especially cautious with during significant dates. These contents can pose a danger to our personal information and the health of our devices.

Keep Your Device Software Up to Date

Keeping your device's software updated is as important as having a strong password. These updates not only provide new features but also close security loopholes that hackers can exploit to attack our devices. An outdated app is an open door for cybercriminals to steal our personal data.

Didit as Protection Against Identity Theft

Didit's mission is to humanize the internet and end identity theft. For this, this development uses decentralized technologies that protect individuals' information, enhancing privacy and security in their internet interactions. This approach places individuals at the center of the equation.

How does Didit end identity theft? The genesis of this process is a test of humanity, which allows distinguishing real people from impostors, and based on this, generate a sovereign and decentralized identity, where people truly own their information, controlling at all times the data they want to share, when, and with whom.

Thus, by humanizing the internet, a new network of secure and reliable connections is created, where each node is fully verified. This way, we know that the person on the other side is really who they claim to be, without risk of fraud.

Thousands of people have already created their sovereign identity with Didit. And you can do it too with just one click on the following banner.