Identity theft is when fraud or any kind of financial gain is committed using an individual’s personal information without that individual’s knowledge. According to the National Council on Identity Theft Protection, the latest statistics on identity theft have reported that nearly 50% of U.S. citizens had their identity stolen between 2020 and 2022, and nearly $21.2 million worth of cases were filed with the Federal Trade Commission.
Personal information that can be useful to identity thieves includes credit card numbers, social security numbers, usernames, and passwords, or the most vulnerable information such as first names, last names, and home addresses. This can lead to accessing and withdrawing bank account funds, making large purchases with stolen credit cards, taking out loans, or taking out health or insurance policies without having to pay the premiums.
How to Recognize Signs of Identity Theft
Unexpected and Unknown Credit Card Charges
- Identity thieves will make small charges on a stolen card to test if the true owner would notice and report it. If not, larger purchases are made.
Missing Credit Card Bills
- If you receive your billing statements by mail, a missing bill could mean an identity thief has changed the address on a particular account.
An Increase or Decrease in Credit Score
- Changes in credit score without having missed paying a bill or making a large credit card purchase could be a clue that an account is being used fraudulently.
Problems With an E-filed Tax Return
- An identity thief could request your tax transcript in an attempt to claim a refund. You wouldn’t find out if this happened until a tax return has been rejected.
Unexpected Calls from Debt Collectors
- Charges may have been made from an account opened by identity theft and left unpaid.
Inaccurate Medical Records
- Personal information could be used by an identity thief to exploit health benefits and coverage for free.
Identity Theft Protection from IAM Member Resources
If you haven’t already, you can sign up for the free Identity Theft benefit provided through your IAM Legal and Personal Protection plan. Among other Identity Theft protection services, this benefit provides:
- Identity monitoring
- Social Security monitoring
- Debit or credit card monitoring
- Identity theft restoration
- Lost or stolen credit card assistance
- And more
Get more information and sign up by calling 646-921-9128 or tap below to fill out a form.