- What Happens If Your Identity Is Stolen
- How To Prevent Identity Theft
What Happens If Your Identity Is Stolen – This early 2010s film follows the comedic misadventures of a thirty-something suburban man who travels across the country to track down a woman who has racked up huge debts using his stolen identity.
As entertaining as this movie is, identity theft in real life is no joke. The tips in this guide will help you avoid becoming a punchline.
What Happens If Your Identity Is Stolen
Identity theft is a type of crime that involves illegally obtaining a person’s personal or financial information and using it to commit fraud.
Identity Theft: What To Do If Your Identity Has Been Stolen
Typically, identity thieves try to steal your name and address, date of birth, credit card or bank account numbers, Social Security number (SSN), and health insurance files or information so they can:
Depending on the severity of the fraud and the length of time it goes undetected, identity theft can cause varying degrees of damage to your credit, finances and reputation.
Yes, identity theft is a problem. In fact, the Federal Trade Commission (FTC) dedicates an entire website to helping victims of identity theft. Consider:
Because many people do not report (or choose not to report) identity theft, the true number of victims is unknown. However, the Federal Trade Commission estimates that 9 million identities are stolen every year.
How To Prevent Identity Theft
In terms of financial impact, consulting firm Javelin Strategy and Research found that losses from “traditional” identity fraud totaled $13 billion in 2020, down 21% from 2019.
Identity thieves can steal your personal information using methods ranging from the extremely sophisticated to the completely unrefined. Popular approaches to identity theft include:
You’ll hear about it in the news a lot – reports of security breaches at some of the country’s largest corporations. While hacking attacks like the Marriott Hotels Group data breach in late 2018 grab most of the headlines, attacks on smaller companies and individuals are becoming more common.
With this scam, cybercriminals send phishing emails that trick you into revealing personally identifiable information (PII). The goal of a phishing email is to steal your identity, open new credit cards in your name, or hack your financial accounts. Phishing is one of the oldest forms of cyber attacks. It is also one of the most effective.
Identity Theft: 4 Steps For Restoring A Stolen Identity
Old-fashioned wallet snatching or wallet snatching is an effective springboard for identity theft. Besides the cash they can get, a pickpocket-turned-identity thief can have a great time with your driver’s license, credit cards, and other personal information you may be carrying around.
At any given time, your inbox contains a wealth of data that scammers can use to give away your identity. Bank statements, credit card bills, tax returns and (in some cases) pre-approved credit card offers are just some of the valuable items that are often left unattended just steps from your home or apartment.
Dumpster diving may not be the most glamorous way for criminals to get your hands on your personal information, but it is a strategy that has stood the test of time, especially when it comes to financial statements, tax documents, loan applications and other information you want. . I will often throw it away without thinking. Be sure to destroy any paper copies containing sensitive data before discarding them.
Protecting yourself from identity theft starts with being more cautious overall and paying attention to your physical surroundings.
What To Do If Your Identity Was Stolen In Mass Identity Breach
If someone steals your identity, you may not realize it until the damage is already done. Common telltale signs include:
Obviously, the sooner you detect identity theft, the better. If you notice any of these signs, seek help immediately and begin the process of getting your life back.
Call the fraud department of any business where you know fraud has occurred and explain that someone has stolen your identity. Do the same with your credit union or bank, your credit card issuer and utility companies.
Representatives will tell you how to close or suspend your accounts to prevent further damage. You’ll also want to change all login information and PINs associated with your accounts.
Knowscam Regional Campaign
Next, you should file a complaint with the Federal Trade Commission. The information you provide will be used to create your personal recovery plan, so be as thorough as possible. You’ll also receive an identity theft report, which will prove that someone stole your identity and will guarantee you certain rights against your credit card company and other creditors.
A fraud alert notifies any lender trying to collect your credit that your identity may have been compromised and instructs them to contact you directly before issuing new credit in your name. You can contact any of the three major credit bureaus (Equifax, Experian or TransUnion) to flag your report, and they will automatically apply alerts to the other two bureaus.
You are entitled to a free credit report every year from the three major credit bureaus. Review each report for signs of fraud, such as accounts you didn’t open, transactions you didn’t make, and payment histories you don’t recognize. This will help you report incidents of theft to the Federal Trade Commission and the police.
While it’s not necessary to file an identity theft report with your local police, it certainly can’t hurt. A paper trail can be useful in the future, especially if the thief lives nearby or if someone uses your name or information to commit a crime.
What Is Digital Identity Theft?
Placing a credit freeze on your credit report makes it difficult for identity thieves to make purchases or open new accounts in your name. To place it on your reports, contact each of the country’s three major credit bureaus individually:
Your credit will remain frozen until you ask for the freeze to end. If you want to be extra safe, you can leave it frozen 24 hours a day as a precaution.
While there are many resources available to help you recover if your identity is stolen, it is far better to try to prevent it from happening. These physical and digital safety tips will help reduce your chances of becoming a victim.
With the rise of online transactions and electronic data storage, digital security has become central to protecting against identity theft.
Steps To Take If Your Identity Is Stolen
Also be sure to check out these tips to protect your phone from hackers and learn how to stay safe while working remotely.
By monitoring your accounts and credit reports, learning to spot suspicious activity, and responding quickly if your personal information is compromised, you can limit or prevent the financial and emotional damage from identity theft.
Protection from Identity Theft and Financial Fraud Concerned about protecting your family from identity theft? Credit Union offers tips for protecting your personal information. Learn how identity theft can affect your finances.
How to Recognize and Prevent Credit Card Fraud If holding your card up to the gas station makes you a little nervous, here are some simple strategies to help you identify, prevent and respond to credit card fraud.
What To Do If Your Identity Is Stolen (2023 Recovery Guide)
Avoid online scams and protect your family. Whether you want to protect yourself or your family, the first step to avoiding online scams is awareness. Let’s talk about what this scam might look like so you know when you encounter an online scam.
How to spot a phishing email From urgent requests to grammatical errors, we’ve got your back when it comes to suspicious emails. Learn how to identify, avoid, and report phishing attempts.
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How To Protect Your Child Or Teen From Identity Theft: Cybersecurity Best Practices
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Free Id Theft Affidavit Template & Faqs
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For more information about the relationship between Title, LLC, see “Affiliate Business Disclosure.” There are many signs of identity theft – some are subtle, while others are bold and immediately noticeable. Having your identity stolen could mean loss of money, financial opportunities such as new jobs or loans, and a loss of sense of security. But understanding the signs of identity theft is an important step toward reducing your risks, along with protecting your identity with an identity protection service like Standard.
In 2022 alone, the Federal Trade Commission recorded more than 1.1 million identity theft reports in the United States, with consumer losses totaling $8.8 billion that year. If you want to reduce the chance of your identity being stolen, consider these
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