How can individuals protect against identity theft?

Monitoring financial statements is an essential practice for protecting against identity theft. Regularly reviewing financial statements helps individuals identify any unauthorized transactions or discrepancies that could indicate that their personal information has been compromised. By catching these issues early, individuals can take immediate action to mitigate potential damage, such as freezing accounts or reporting fraud.

In contrast, sharing personal information widely increases the risk of identity theft, as it makes it easier for malicious actors to obtain sensitive data. Using the same password for multiple accounts can also compromise security; if one account is hacked, all accounts sharing that password are at risk. Ignoring online security alerts can lead to a lack of awareness about potential threats, making it more likely that individuals will fall victim to scams or breaches. Thus, actively monitoring financial statements is a proactive and effective measure in safeguarding personal identity.