Identity theft usually begins when your personal data is exposed through hacking, phishing, data breaches, or other means. Next, a criminal makes use of your exposed information to do something illegal, such as opening an account in your name.
The three most common types of identity theft are financial, medical and online. Learn how you can prevent them and what to do if they happen to you.
Data breaches that expose your passwords and sensitive data. Data breaches are the leading causes of identity theft. As of October 2022, there were 1,291 data breaches with over 160 million victims [*]. Data breaches take place when hackers break into services that you use and steal your stored information.
Financial identity theft.
This is the most common form of identity theft — when someone uses another person's information for financial gain.
Scammers can steal your identity by obtaining your personal financial information online, at the door or over the phone. What they want are account numbers, passwords, Social Security numbers, and other confidential information that they can use to loot your checking account or run up bills on your credit cards.
Criminals use stolen login credentials to break into accounts with payment details, such as shopping accounts. This is called account takeover, and it often leads to identity theft. If the hacker changes your password, you will also lose access to your account.
Highlights: There are a number of ways identity thieves may obtain your personal information. Fraudsters may dig through mail or trash in search of credit card or bank statements. Unsecured web sites or public Wi-Fi may allow identity thieves to access your information electronically.
In 2021-22: 8.1% of persons (1.7 million) experienced card fraud. 2.7% of persons (552,000) experienced a scam. 0.8% of persons (159,600) experienced identity theft.
Identity theft begins when someone takes your personally identifiable information such as your name, Social Security Number, date of birth, your mother's maiden name, and your address to use it, without your knowledge or permission, for their personal financial gain.
But even your basic information can put you at risk of certain types of ID theft. Here are some of the basic details about you that fraudsters can use to steal your identity: Full name. A simple Google search of your name can give scammers access to your social media accounts, email address, home address, and more.
Your phone number is an easy access point for scammers and identity thieves. Once scammers know your number, they can target you with phishing texts and calls, or trick you into downloading malware and giving up personal information.
How to report ID theft. To report identity theft, contact: The Federal Trade Commission (FTC) online at IdentityTheft.gov or call 1-877-438-4338.
These are some signs to look out for: Unusual bills or charges that you don't recognise appear on your bank statement. Mail that you're expecting doesn't arrive. You get calls or texts about products and services you've never used.
It is entirely possible to recover from credit card fraud and identity theft, especially if you catch it immediately. But you have to address it quickly and get in touch with the right providers to take corrective measures. Here's how to handle identity theft and credit card fraud if you are a victim.
The answer may surprise you – while everyone should be aware of identity theft, children and the elderly are at an especially high risk of becoming victims.
Even if a thief only accesses a small amount of your personal information, they may be able to steal your identity if they can find out more about you from public sources. This includes social media accounts which may include your date of birth, photos and information about your family.
The best way to find out if someone has opened an account in your name is to pull your own credit reports to check. Note that you'll need to pull your credit reports from all three bureaus — Experian, Equifax and TransUnion — to check for fraud since each report may have different information and reporting.
Red flags are suspicious patterns or practices, or specific activities that indicate the possibility of identity theft.
Don't carry your Social Security card in your wallet or write your Social Security number on a check. Give it out only if absolutely necessary or ask to use another identifier. Don't give out personal information on the phone, through the mail or over the Internet unless you know who you are dealing with.