What should individuals do to check for identity theft?

Monitoring credit reports regularly is a crucial step for individuals to check for identity theft. This practice allows individuals to examine their credit history for any unfamiliar transactions or accounts that they did not authorize. Since many instances of identity theft involve the opening of new accounts or the misuse of existing ones, reviewing credit reports can help detect such fraudulent activities in a timely manner.

Regular monitoring makes it possible to catch discrepancies early, which can lead to quicker resolutions and minimize potential financial damage. Credit reports contain both personal information and credit activity, making them an essential tool for individuals to safeguard their identity.

The other methods mentioned are either inadequate or reactive. Relying solely on social media reports can lead to misinformation and doesn't provide the detailed financial information that credit reports do. Waiting for notifications from banks may result in delayed detection, where significant damage might already occur before any alerts are sent. Lastly, responding only to mail from financial institutions does not offer a proactive approach; it assumes that all relevant communications will come through the mail, which is not guaranteed in cases of identity theft.