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Common Types of Financial Identity Theft
Common Types of Financial Identity Theft
Updated over 10 months ago

Financial identity theft comes in several common types, each posing unique risks to individuals' financial security:

Fraudulent Account openings or credit applications

  • Your name and identifying information is used to open a new bank account

  • Your name and identifying information is used to apply for credit products which are never repaid leaving a mark on your credit bureau

Account takeovers

  • Unauthorized access to your bank accounts to steal your money

  • This can be in accounts or on credit cards

Ways that fraudsters steal your identity and how to protect yourself

Computer Viruses/Malware installed on your computer

  • Never open files without checking their source

  • Close websites when the browser tells you they're not secure

  • Do not accept files from people you don't know

  • Install anti-Virus Software and keep it up to date

  • Don't use unsecured wifi

  • Use several secure passwords

Phishing (Emails or text messages that are geared towards tricking you into clicking a link or entering information):

  • Unknown number advising you that there is suspicious activity on your bank account

  • Tell you you're getting money

  • They need to confirm personal information

  • Want you to reset passwords

Always think before you click or open any attachment. If you're unsure, you can always contact the company directly to confirm.

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