What Are the Early Warning Signs of Identity Theft?

Stay aware to protect yourself from identity theft.

Fraudsters have more ways than ever to steal your identity but in doing so, can leave footprints behind. By learning about and looking out for the telltale warning signs of identity theft, you can more easily identify when it might be happening to you. Taking action quickly could stop or significantly reduce the damage that might be caused to your identity, finances and family.

What Is Identity Theft?

Identity theft is the fraudulent acquisition, and exploitation, of your personally identifiable information for financial gain. Identity thieves can use your personal data for multiple types of identity theft, from bank and loan fraud to stealing your tax return or even receiving medical care in your name.

You can become the victim of identity theft if scammers have access to PII such as your:

• Name
• Address
• Date of birth
• Phone number
• Social Security number or your child’s SSN
• Online passwords and credentials
• Credit card numbers and other financial information

What Are the First Signs of Identity Theft?

The consequences of identity theft can be severe if swift action is not taken as soon as you see the warning signs. The sooner you spot the signs of identity theft, the better chance you have of shutting down scammers before they can do too much damage.

If you think your identity is compromised, look for these warning signs:

• Unfamiliar charges or withdrawals on your credit card or bank statements.
• Being denied applications for new credit cards, or a sudden drop in your credit score.
• Notifications for new cards and accounts that you didn’t sign up for.
• Calls from creditors and debt collectors about purchases you never made.
• Unfamiliar medical bills or notifications saying that your healthcare benefits have been maxed out.
• Missing mail or signs that your mailbox has been tampered with.
• Password reset emails or two-factor authentication codes that you didn’t request.
• You’re unable to log into online accounts using your usual password.
• Emails alerting you about a data breach.
• Fraud alerts from your bank or credit monitoring service.

While there’s no way to be 100% protected from identity theft, staying vigilant against fraud is the best way to safeguard yourself, and your family, from scammers.

This loss control information is advisory only. The author assumes no responsibility for management or control of loss control activities. Not all exposures are identified in this article. Contact your local, independent insurance agent for coverage advice and policy service.