How is identity theft different from financial fraud?

The term “financial fraud” covers common credit card, check and debit card fraud. When criminals use your credit cards or debit cards to make a purchase, they typically do so without assuming your identity. Recovering from financial fraud is comparatively easier than recovering from identity fraud, because most creditors don’t hold you liable for fraudulent charges.

What personal information is generally taken when a breach occurs?

The type of information taken during a breach can vary widely depending on what personal info the company has stored, and what the perpetrator is able to access. Sometimes, the types of info stolen can also depend on the purpose of the breach, which could vary from making a political statement to a hacker simply “showing off”. Perpetrators that are committing breaches for financial gain generally target personal information that can be resold on the dark web and be used for identity fraud, focusing on info like full names, email addresses, passwords, Social Security number, date of birth and driver’s license number to name a few.

What is the risk of Criminal Identity Theft?

Criminal identity theft can create a myriad of headaches for the victim after the fact. Though a less common from of fraud, a thief could get caught for a traffic violation or a misdemeanor and sign the citation with your name. Then you get stuck paying those annoying fees and fines. If a thief uses your name when getting arrested for a crime, you could end up with a criminal record, which could affect your ability to get a job or buy/rent property. Another case is when the thief commits a crime using your identity, and then a warrant is issued for your arrest. But instead of looking for the criminal, they are looking for you—you could have a warrant out for your arrest and not even know it!

What is identity theft?

Q: What is identity theft?

Identity theft has evolved far beyond just credit card fraud, and unfortunately is a rapidly growing crime that most people will be impacted by — either directly or indirectly — at some point in their lives. By learning about the types of fraud that exist and the best practices to employ, you can help avoid becoming part of the statistic — digital thieves stole $14.4 billion from US consumers in 2018.

Identity theft is a type of crime that occurs when someone steals your personal information to open new or access existing accounts without permission, often for financial gain, or to impersonate you while committing another crime. Identity theft has evolved far beyond credit card fraud and now encompasses a wide range of illegal activities.

Get Protected

What is identity theft?

Identity theft is a type of crime that occurs when someone steals your personal information to open new or access existing accounts without permission, often for financial gain, or to impersonate you while committing another crime. Identity theft has evolved far beyond credit card fraud and now encompasses a wide range of illegal activities.

What Are the First Signs of Identity Theft

The consequences of identity theft extend beyond damage to a victim’s creditworthiness. In some cases, the identity thief can become falsely attributed to the victim, affecting their court, employment, and education information, among others, and leading to devastating outcomes, such as wrongful arrest or job application rejections. How can you determine that your information has been stolen? Consider these early signs:

Unexpected bills - You receive unfamiliar bills or statements, or you don't receive bills or statements that you should.
Unusual charges or withdrawals - You see withdrawals from your bank account that you can't explain, or you see unfamiliar charges on your credit card.
Credit report issues - You see unfamiliar inquiries on your credit report, or you see new accounts or loans in your name.
Debt collector calls - You receive calls from debt collectors about debts you do not owe.
Credit application issues - You're denied credit or loan applications, or receive rejection letters for loans you didn't apply for.