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Identity Theft Warning Signs

Written by Andrea Klinedinst, Executive Administrative Assistant

Identity Theft cases are on the rise every day. It’s a scary concept that someone could take your identity and go around masquerading as you. There are ways to help protect yourself from Identity Theft, and if you are a victim, there are ways to help you recover. Below you will find some early signs of Identity Theft as well as ways to protect yourself and some first steps toward recovery if you are a victim.

Early warning signs

Identity Theft won’t go unnoticed. There will be warning signs to alert you that something is not right. Below are a few Identity Theft warning signs to keep in mind.

1. Practice good online habits – There are many things you can do to be safe online and protect yourself from identity theft. Some important ones are to never click suspicious or unexpected links, use secure wifi and websites, and be wary of people or businesses making offers that are too good to be true. You can find more good advice for staying safe online in our other Fraud Education articles.
2. Check your credit report – By law, the credit reporting agencies in the US (Experian, TransUnion, and Equifax) are required each year to provide consumers with a copy of their credit report for free. On your credit report, you can review any accounts or inquiries and ensure that they are all yours or were initiated by you. You can visit annualcreditreport.com or call 877-322-8228 to request your free annual copy of your credit report.
3. Regularly monitor your accounts – Regularly reviewing your financial accounts is a great way to quickly catch anything out of the ordinary. With MNB Online/Mobile banking, you can easily check your accounts from anywhere and set up alerts to tell you when there are transactions on your accounts or your debit card. It is always a good idea to at least review your monthly account statement when it is available.
4. Safeguard your personal and financial information – Unfortunately with fraud on the rise, the bad guys are always trying new tactics to get your information. Never give out your personal information such as PINs, passwords, or usernames to anyone who is emailing, texting, or calling you out of the blue. Financial institutions will never ask you for this information. Do not give out too much information about yourself on social media, as someone could use this information to trick you or to steal your identity, and definitely do not give anyone your financial information. Not everyone online is who they seem to be.
5. Use strong passwords – Strong passwords are a great way to help protect your accounts and information from any bad actors. Almost every website and app these days requires a password, and best practice is to use different passwords in the case that someone figures out one password, they can’t get into all your accounts.
6. Consider freezing your credit – If you are concerned about someone getting your information and taking advantage of you or if you know your information has been stolen or leaked in a data breach, you may want to consider freezing your credit. This will stop any new credit accounts from being opened, as it will prevent anyone from being able to view your credit.

What to do if you suspect you are a victim?

1. Call your financial institutions and companies where you know the fraud occurred and request they close or freeze your accounts.
2. Contact one of the three credit bureaus* to place a fraud alert and get your credit report.
3. Report ID theft to the authorities. Make reports with both the Federal Trade Commission (FTC) and the local police.
4. Close fraud accounts. Once you have received a credit report, you can call the companies where other accounts were fraudulently opened in your name, report your identity theft to them, and request that they close the account.
5. Remove fraudulent transactions by calling each business, explaining that you were a victim of identity theft, and requesting they remove the charges.
6. Correct your credit report by writing a letter to each of the credit bureaus* explaining what you want corrected.
7. Add fraud alert or credit freeze. As mentioned above you can add a fraud alert or credit freeze to prevent someone from further using your information.

MNB has booklets from the FTC that walk you through these steps and more. You can also go to IdentityTheft.gov to learn more and get a personal recovery plan if you are a victim of identity theft.

As always, we at MNB are here to help. If you suspect you are a victim of fraud or identity theft, do not hesitate to call us at 877-647-5050. Be informed and stay safe.

* The three major credit bureaus in the United States are Equifax, Experian, and TransUnion.