Are you the Victim of Identity Theft?
“One of the biggest hazards of the internet age is losing control of your personal data to cybercriminals, which can lead to calamitous outcomes. Identity theft can be devastating, resulting in the takeover of your financial and social media accounts, as well as significant losses of money and sensitive personal information. All of this can have a long-lasting impact.
[A recent U.S. News & World Report] survey asked 2,000 U.S. adults — all of whom had experienced identity theft — about their experiences with identity fraud, social media identity theft, SMS phishing, identity theft precautions they take now, and more. While nearly three-fourths (73%) of our survey respondents said they experienced one case of identity theft, more than a quarter (27%) said they faced identity fraud more than once.”[1]
What is Identity Theft?
Identity theft happens when someone uses your personal or financial information without your permission. This information can include:
- Names and addresses
- Credit card or Social Security numbers
- Bank account numbers
- Medical insurance account numbers[2]
How can someone steal my identity?
Identity thieves may use any number of low or high-tech methods to gain access to your personally identifying information.
Common Examples of How Identity Thieves Steal Your Information:
Account Takeover
Account takeover occurs when a thief is able to obtain enough information about you in any manner or method and then ‘takeover’ your account, enabling them to make withdrawals, transfer funds to other accounts, and other transactions.
Data Breach
Data breach happens when a business or corporation has their sensitive, protected, or confidential data for customers or employees stolen via intrusion into an information or computer system, whether caused externally or internally.
Dumpster Diving
Dumpster diving happens when thieves search through your trash, or trash discarded by a business, looking for any discarded documents which contain sensitive information or personal identifying information, such as customer information, receipts, bank statements, credit card bills, utility bills, medical insurance papers or medical bills.
Flagging
Flagging is the practice of placing your outgoing mail into your mailbox and placing the red flag up to alert the postal service that you have mail to be picked up. This also alerts thieves that you have important mail in the mailbox, usually bill payments or other important documents that contain information the thieves can use.
Hacker
A thief who uses your computer, or a business’s computer, to gain unauthorized access to confidential data or personal information is a hacker.
Mail Theft
Thieves target your mailbox, stealing any items which may contain your personal information, such as bank statements, retirement or investment statements, and even credit card applications.
Motor Vehicle Trespass & Theft
Thieves target your personal items, such as your purse or wallet, which contains your identification, checks and bank cards, and then use these items to make purchases or withdrawal money from your accounts.
Phishing
Phishing happens when identity thieves trick you into providing your personal information or passwords. For example, thieves may send you a message purporting to be from your bank or another legitimate business you frequent and request that you update or provide your PIN in order to access your account or restore access by clicking on a link. Once you click on the link to provide the information, the fraudsters have your information. In some cases, the link may cause your computer to be infected with malware, which can allow access to any personal information you have saved on your computer. In other variations, the thieves may send you a text message or other social media to request your information.
Shoulder Surfing
When in a public location using your bank cards, entering PINs or completing applications or other forms with personal information be wary of individuals who may be observing your entries or account numbers, sometimes even surreptitiously taking pictures of your information by using their mobile phones.
Skimming
Skimming can happen anytime you use your credit card, bank card, or debit card. The theft occurs when the device that reads the information stored on the magnetic strip on the back of your card records the information and the card’s code, which is then used by thieves to make a duplicate card and make purchases with your account.
Social Engineering
This type of identity theft occurs when thieves use any means of deceit to trick you into providing sensitive information or sending funds. This can be done over the phone or via the computer, internet, or email.
True Name Identity Theft
True name identity theft happens when an identity thief has been able to obtain your personal information and open new accounts with your name, date of birth, and/or social security number. Unfortunately, in these cases, the ID thief is usually a relative, spouse, ex, or partner.[3]
What are the consequences of identity theft?
Identity theft can have serious consequences for you and your family. It can negatively affect your credit, get you sued for debts that are not yours, result in incorrect and potentially health-threatening information being added to your medical records, and may even get you arrested.[4] ID thieves may open bank accounts and credit cards in your name. Change billing addresses for credit and charge cards. They may establish wireless phone service or other utilities in your name. They may file bankruptcy in your name.
Another devasting consequence is “tax-related identity theft [which] occurs when someone uses your stolen personal information, including your Social Security number, to file a tax return claiming a fraudulent refund.”[5]
How can I tell if I’m a victim of identity theft?
Regularly review your credit reports and account statements. Look for charges and activities you do not recognize. Look for addresses, phone numbers, and employers you that are not related to you. This is a clear red flag of ID theft.
Other indications of identity theft include:
- Failing to receive bills or other mail, which may signal an address change by the identity thief.
- Receiving credit cards for which you did not apply.
- Being denied credit for no apparent reason.
- Receiving calls or letters from debt collectors.
- Receiving call from businesses about merchandise or services you did not buy.
- Receiving a letter from the IRS inquiring about a suspicious tax return that you did not file.
- You can’t e-file your tax return because of a duplicate Social Security number.
- Receiving a tax transcript in the mail that you did not request.
- Receiving an IRS notice that an online account has been created in your name.
- Receiving an IRS notice that your existing online account has been accessed or disabled when you took no action.
- Receiving an IRS notice that you owe additional tax or refund offset, or that you have had collection actions taken against you for a year you did not file a tax return.
- IRS records indicate you received wages or other income from an employer you didn’t work for.
- You’ve been assigned an Employer Identification Number, but you did not request an EIN.
How to fight ID Theft
We can help
Call or text (502) 473-6525 or email us for a free consultation. We know how to fix credit damage caused by ID Theft.
Place a Fraud Alert
Under the Fair Credit Reporting Act (“FCRA”) you can file a fraud alert, which stay in place a minimum of 90 days and a maximum of seven (7) years.
- Equifax: 1-800-525-6285
- Experian: 1-888-397-3742
- TransUnion: 1-800-680-7289
- Innovis: 1-800-540-2505
Report the Theft
After placing the fraud alert, file a police report and/or ID Theft report with the FTC or the US Postal Inspection Service. SAVE the REPORT. You will need for disputing false and inaccurate information on your credit reports.
Block False and Inaccurate Credit Information
Under the FCRA you have the right to block false and inaccurate credit information resulting from ID Theft. The law requires that you include an ID Theft report with your request to block the credit information. In your letter, you will need to identify with particularity each item that is false and inaccurate because of ID Theft. You also should include color copies of your driver’s license, your social security card, and a recent utility or wireless bill with your current mailing address on it. I strongly advise sending the dispute letter via a service that allows you to track and prove delivery: UPS, FedEx, or the USPS via certified or priority mail.
Consumer Reporting Agency mailing addresses:
Equifax Information Services, LLC
P.O. Box 740256
Atlanta, GA 30374-0256
Experian Information Solutions, Inc.
P.O. Box 4500
Allen, TX 75013
TransUnion Consumer Solutions
P.O. Box 2000
Chester, PA 19016-2000
Innovis Consumer Assistance
P.O. Box 530086
Atlanta, GA 30353-0086
[1] https://www.usnews.com/360-reviews/privacy/identity-theft-protection/identity-theft-fraud-survey
[2] https://www.usa.gov/identity-theft
[3] https://www.jeffco.us/967/How-Identity-Theft-Happens
[4] https://www.texasattorneygeneral.gov/consumer-protection/identity-theft/what-identity-theft#:~:text=Identity%20theft%20can%20have%20serious,may%20even%20get%20you%20arrested.
[5] https://www.irs.gov/newsroom/taxpayer-guide-to-identity-theft