Financial experts are recommending that consumers do all they can to protect themselves against identity theft.

If, unfortunately, you do become a victim, there are ways that you can lessen your financial pain.
A poll conducted by Javelin Strategy and Research indicated that victims who discover the theft on their own tend to straighten out the situation much more quickly than those who don’t find out about the theft until their bank or a collection agency tells them about it. Those who discovered on their own that they were victims of identity theft tended to clear their names about 65 days after the fraud began, while those who found out the hard way had to wait about 104 days before the mess was straightened out.

Financial experts say it would be worth your while this year to keep a watchful eye on all your account balances, including credit card accounts, checking accounts, and savings accounts. That way, if thieves do strike, you should have an easier time recovering from it.

One wise strategy is to enroll in an online banking program. That way, you can receive e-mail alerts if there is a transaction of more than $100 posted to your credit account, or if there has been a charge posted from overseas. Likewise, Washington Mutual will e-mail you a message if there’s been a withdrawal on your account over a certain threshold amount.

If you enroll on Mint.com, you can enjoy daily monitoring of your checking, savings, credit card, and PayPal accounts. That way, you can keep track of deposits, fees, and other transactions without having to monitor multiple websites. Mint.com will also send you e-mail alerts if withdrawals and charges go over a certain amount. The site is also secure, since you cannot complete transactions via Mint.com. It is simply a means of monitoring what goes on in your accounts.