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.
The four types of identity theft include medical, criminal, financial and child identity theft.
Financial identity theft.
This is the most common form of identity theft — when someone uses another person's information for financial gain.
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. Identity thieves can take out loans or obtain credit cards and even driver's licenses in your name.
This can happen through a variety of means, including hacking, fraud and trickery, phishing scams, mail theft, and data breaches. Data breaches are among the most common ways identity thieves collect personal data.
Bank and credit card statements usually contain your name, address, and details about your account that can be used by identity thieves to commit fraudulent acts, while any other mail you receive may also contain similar information.
Identity fraud
For example, with a copy of your ID showing your name, date of birth and BSN, fraudsters can apply for a loan or set up a mobile phone contract. As a result, you could receive bills for things you did not buy. Do not let your ID be copied by just anyone.
The easiest way to become a victim of a bank scam is to share your banking info — e.g., account numbers, PIN codes, social security number — with someone you don't know well and trust. If someone asks for sensitive banking details, proceed with caution.
Here are the most common dangers of identity theft: Fraudsters can open new accounts, credit cards, and loans in your name. You can lose your health care benefits (i.e., medical identity theft). Hackers can “own” your email and other accounts (account takeovers).
Identity theft and identity fraud are terms used to refer to all types of crime in which someone wrongfully obtains and uses another person's personal data in some way that involves fraud or deception, typically for economic gain.
Call or email the fraud department of the companies, banks or credit unions where accounts have been compromised. Explain that someone stole your identity and ask them to close or freeze the compromised account.
Signs of identity theft
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.
appear to be forged or altered; Personal identifying information (i.e., photograph, physical description) on the identification does not match the individual presenting the information; Address or name does not match the information on the identification and/or insurance card(s), credit card(s), etc.
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.
Don't give out personal information on the phone, through the mail or over the Internet unless you know who you are dealing with. Avoid disclosing personal financial information when using public wireless connections. Never click on links sent in unsolicited emails; instead, type in a web address you know.
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.
Once they have your personal information (such as your ID, Social security number, etc.), they can steal your identity and access your bank account. If you're on the job hunt, it's a good idea to set up fraud and credit monitoring to make sure no one is using your credentials for the wrong reasons.