Identity theft occurs when someone steals your personal information (e.g. credit card number or social security number) and uses it fraudulently.
Did you Know…
- Most stolen cards are used within 48 hours, so it is important to report a missing card immediately.
- If someone steals your ATM card and uses it, you could be responsible for up to $500. The Electronic Fund Transfer Act (EFTA) states the amount you're responsible for depends on when you report the loss.
- Over 10 million people become identity theft victims in the US each year.
- Someone has their identity stolen every 4 seconds in the United States.
- 60% of victims don't find out about the identity theft until 3 or more months after it occurs.
- Victims spend anywhere from 6 months to two years recovering from identity theft.
How Does Identity Theft Happen?
- Go through your trash or “dumpster dive”
- Steal your wallet or purse
- Steal your mail or submit a change of address form for your mail
- Use “phishing” or fake emails to get you to provide personal information
- Steal personnel records from employers
What Do Thieves do with Your Personal Information?
- Take out loans in your name
- Charge expenses to existing account
- Open new credit card accounts
- Access your bank accounts
- Get a job
- Ruin your good credit