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Common Types of Financial Identity Theft
Common Types of Financial Identity Theft
Updated over a week 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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