The three most common types of identity theft are Financial Identity Theft, involving unauthorized use of financial accounts; Medical Identity Theft, where someone uses your info for healthcare or insurance; and Criminal Identity Theft, when someone commits a crime under your name, but Child Identity Theft is also frequently cited as very common due to children having clean records. These types cover misuse of financial data, healthcare records, and criminal records, often stemming from data breaches or phishing.
1. Financial Identity Theft. Financial identity theft is perhaps the most common type of identity theft. It involves an unauthorized person gaining access to and using another person's financial information.
Clues That Someone Has Stolen Your Information
Identity Theft: If you think an identity thief is using your SSN to work or to collect benefits, call the Social Security Fraud Hotline at 1-800-269-0271. If you think someone may be using your SSN to work, check your Social Security Personal Earnings and Benefit Statement.
Signs of identity theft
Yes, someone can potentially take money using just your BSB and account number, primarily through setting up unauthorized direct debits (if they get past security checks) or combining them with other personal info for more complex fraud, but it's much harder to withdraw funds like an ATM withdrawal without your PIN or login details; the main risk is setting up recurring payments or using them with other stolen data like your driver's license, so always share details with trusted entities and monitor your statements closely.
Beware of these warning signs:
Check your credit report to see if an identity thief has used your information. Get your free credit reports from AnnualCreditReport.com. Review the reports, and if you see an account or debt you don't recognize, contact the company and ask about it.
If you know your Social Security information has been compromised, you can request to Block Electronic Access. This is done by calling our National 800 number (Toll Free 1-800-772-1213 or at our TTY number at 1-800-325-0778).
Examples of red flags include inconsistent or unusual activity in a credit report, Social Security number verifications that don't match up and requests for a new credit or debit card less than 30 days after an address change.
How to spot it: Get your free credit report at AnnualCreditReport.com. Review it for accounts you didn't open or inquiries you don't recognize. A new credit card, a personal loan, or a car loan will appear as a new account.
Place or lift a credit freeze
Freeze or lift the freeze on your credit report for free by contacting each of the three major credit reporting agencies: Equifax. Experian. TransUnion.
More than 1 in 5 (22%) of Americans report being victims of identity theft. The most common types of identity theft they've fallen victim to include financial (73%), employment (13%), and synthetic ID theft (10%).
Identity theft involves acquiring key pieces of someone's identifying information, such as name, address, date of birth, social security number, and/or mother's maiden name in order to commit, aid, or abet any crime.
What Can Scammers Do With Your ID or Driver's License?
It can help mitigate some of the risks of having a criminal create fraudulent accounts or take out unlawful loans in your name and gain access to your bank or brokerage accounts and credit cards. Freezing your credit and Social Security number is free. It won't impact your credit score.
What to do if your Social Security number is on the dark web
An identity protection PIN (IP PIN) is a six-digit number that prevents someone else from filing a tax return using your Social Security number (SSN) or individual taxpayer identification number (ITIN). The IP PIN is known only to you and the IRS.
5 ways to find bank accounts in your name
Spot the Warning Signs
With credit scores ranging from 300 to 850, a score between 670-739 is considered good, per Fair Isaac Corporation (FICO), a popular credit scoring system used by 90% of lenders.
Reviewing your credit report
Open credit accounts – Make sure you recognize all of the credit accounts that are open under your name. If there are accounts you don't recognize, this could be a sign that someone has opened a credit card, utility, or loan using your name.
Criminals commit identity theft by stealing your personal information. This is often done by taking documents from your rubbish or by making contact with you and pretending to be from a legitimate organisation.
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