Cyber-Security Resources

Countless individuals in the United States fall victim to this crime each year, with their stolen identities used for a host of fraudulent activities.

If you’re the victim of identity theft, file a report with the Federal Trade Commission at ftc.gov.

Don’t let identity thieves ruin your life. Learn how to protect yourself.

Imagine waking up to find your hard-earned money gone from your bank account or that you are being pursued by debt collectors for debts you never incurred. This nightmarish scenario is a harsh reality for many victims of identity theft and fraud.

In today’s digital age, identity theft and the resulting crimes are on the rise as personal information becomes increasingly vulnerable to fraud. From impersonation and bank account takeover to insurance fraud and credit card hacking, identity theft can wreak havoc on your life. In this article, we’ll explore how you can protect yourself from identity theft and recognize the warning signs of fraud.

Understanding Identity Theft

Identity theft occurs when someone steals your personal information to deceive and defraud others. Countless individuals in the United States fall victim to this crime each year, and their stolen identities are used for a host of fraudulent activities.

• Credit card. Identity thieves either open new credit card accounts in your name or make unauthorized charges on your existing cards.
• Banking and loans. Criminals apply for loans or open bank accounts using your personal information, sometimes even withdrawing funds from your existing accounts.
• Government and benefits. Fraudsters misuse your information to falsely claim benefits like Medicaid, social services, or government housing.
• Employment and tax. Identity thieves use your Social Security number to file false tax returns and collect refunds.
• Phone and utilities. Crooks open unauthorized phone and utility accounts using your information.
• Medical and insurance. Criminals exploit your health insurance or Medicare ID to fraudulently obtain medical services or bill your healthcare provider.

How Does Identity Theft Happen?

Identity thieves employ various methods to gain access to your personal information, leaving you vulnerable to their deceitful schemes. Anywhere your private data is available is where identity thieves focus. And your private data is available in plenty of places, like:

• Your mailbox
• Where you shop with credit or debit cards
• Professional and medical offices
• Your wallet
• Your trash
• The internet

Your personal information – like your name and address, account numbers, passwords, and Social Security or Medicare numbers – are payoffs for fraudsters who are very clever at stealing it. They are accomplished at rummaging through your trash for discarded documents, hacking into public Wi-Fi networks to intercept data, using skimming devices to capture credit or debit card information, phishing with tempting emails, texts, or calls, or resorting to shoulder-surfing where they covertly observe your PIN or password entry.

Recognizing the Signs of Identity Theft

To protect yourself, be vigilant and watch out for signs of fraudulent activity like these

• Unfamiliar withdrawals on your bank statements
• Suspicious charges on your credit or debit card
• Missing bills and other mail that you are expecting
• Rejected checks
• Statements from unfamiliar credit cards
• Unwarranted calls from debt collectors
• Notifications of data breaches
• Unexpected credit or loan application denials
• Unsolicited requests for personal information
• Fraudulent tax returns filed in your name
• Bills for medical services or medications you never received
• Accounts appearing on your credit report that you didn’t open or charges you didn’t make

Keeping Track of Your Credit

Even if you haven’t experienced any of these signs of identity theft, you should still check your credit report annually. You can obtain your free credit report by contacting annualcreditreport.com. Once you receive your credit report, carefully review it for the following:

• Ensure that all accounts listed belong to you.
• Confirm that credit inquiries are related to credit applications you made.
• Verify the accuracy of your address and your employer’s address.
• Double-check that all your open accounts are correctly reported as open.
• Conduct a thorough inventory of all listed accounts, including outstanding debt and payment history.

Protecting Your Identity

Safeguarding yourself from identity theft requires adopting proactive strategies and best practices to fortify your defenses against fraud. Follow these recommendations to significantly reduce the risk of becoming an identity theft victim:

• Practice password safety. Create strong, unique passwords and change them frequently.
• Exercise caution online. Don’t click suspicious links and don’t use public Wi-Fi for sensitive transactions.
• Secure sensitive documents. Do not carry your Social Security or Medicare card in your wallet, and shred paperwork before throwing it away.
• Stay vigilant in public spaces. Shield ATM keypads when you use them, and be aware of shoulder surfers.

Staying Safe

Maintaining financial stability and protecting yourself from identity theft require vigilant monitoring of credit reports and implementing proactive measures. By exercising caution online, securing personal information, and staying alert, you can significantly reduce the risk of falling victim to identity theft. Safeguard your identity today for a secure future. If you have questions or need help protecting your finances, reach out to your Fidelity Bank banker today.