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While identity fraud has, unfortunately, become a common occurrence, not everyone knows how to deal with such events. Luckily, Legal Shield exists to help people with their identity theft insurance in Oregon and nearby places – an excellent first step in solving identity fraud cases.
Companies like credit unions, banks, and retail stores must ask for their customers’ personal information as part of their operations. The massive amount of data at hand makes them highly susceptible to data theft and their clients at risk for identity theft. While these companies are responsible for safeguarding their data, sometimes information can easily slip off of companies’ hands and can be disclosed or stolen.
Nowadays, it can be pretty easy to fall into the traps of identity fraud. The internet’s ease of access may make processes and transactions hassle-free. But this also leads to people giving up their personal information online, where everything is accessible with the right (or wrong) determination.
Identity theft happens in various ways. However, regardless of the method, the outcome is the same. Identities are indecently used, which can put both the company and the individual at a disadvantage. Companies can lose their reputation and customers’ trust, even for a single instance of data theft. And individuals may lose their records or, worse, their money due to identity theft.
While the latter fraud is a common event, many people are still unaware of how it works and what they must do whenever they suspect their identities have been compromised.
Analyze the Situation
People can’t be blamed when they panic at the sight of their accounts performing unauthorized transactions. After all, these data or funds have significant consequences if lost. However, no issue can be solved if nerves are haywire and people are on edge.
Do you think you’ve been a victim? Are your accounts doing suspicious transactions? Hold yourself back from getting extremely anxious. Firstly, examine how you’re affected. Identity cases typically involve one or more fraud types: credit, employment, taxes, banking, medical or government benefits, among others.
Check Finances
Once you’ve observed your accounts doing unwarranted and unauthorized matters, close them immediately. You may do this personally or approach your banking or credit companies to close your accounts for you. They will proactively assist you in closing and tracking down the possible respondents by telling them you suspect these accounts to have been stolen or compromised.
You should also check if any accounts are opened without your permission, and if these exist, you should close them without hesitation. Once you’ve done these preemptive measures, you should communicate with your company and ask if a major data breach had occurred, leading to the dispute of your accounts.
File a Claim With Your Insurance
After checking in with your companies and closing all your accounts, it might seem like the process is complete to safe-keep the rest of your data. Temporarily, this works. But in the long run, you may need to do more.
This is where your theft protection provider comes in. Companies like LegalShield, a company offering identity theft insurance in Oregon, can help you through the rest of the processes to maintain your information has been recovered and is safe. They sell theft protection plans that ensure their clients’ money gets reimbursed and covered with their legal help.
File a Report With Your Local Enforcement Agency
This is an excellent preemptive step in case the thief presents your credentials during arrests. Filing a report to the local law agency can also help give authorities more jurisdiction over the incident, especially if they find out several people are also experiencing the same thing.
While these agencies often may not pursue the matter, reporting an incident still benefits you. This can help you prepare for a more significant complaint later, and your police report will be a great supporting document.
File a Report With the Federal Trade Commission
Local agencies may not be proactive with identity fraud, but the FTC actively compiles information about these cases. The data they will gather can be used by the FBI to track down these perpetrators. Your statement will be a powerful tool not just for yourself but also to help other people who have been in the same situation as you.
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