Early signs of identity theft include unexpected, unauthorized charges on financial statements, missing mail or bills, and receiving debt collection calls for accounts you did not open. Other indicators include denied loan applications, unfamiliar accounts appearing on credit reports, and notices from the IRS regarding multiple tax returns filed in your name.
You know your identity might be stolen through signs like unexpected bills or debt collection calls for accounts you didn't open, unfamiliar charges on bank/credit statements, loan application denials despite good credit, missing mail, or IRS alerts about fraudulent tax returns, all indicating someone is using your personal info for fraudulent activities like opening new accounts, draining funds, or filing taxes in your name. Regularly checking credit reports and bank statements is crucial to catch these red flags early.
Criminals commit identity theft by stealing your personal information. This is often done by taking documents from your rubbish or by making contact with you and pretending to be from a legitimate organisation.
If your identity was stolen:
To check if someone opened a bank account in your name, request free reports from checking account reporting companies. You should also monitor your credit reports monthly, as new bank accounts may appear there.
To check if someone is using your ID number, regularly review your credit reports, bank/credit card statements, and Social Security earnings record (ssa.gov) for unfamiliar accounts, transactions, or inquiries; look for unexpected bills, denials, or debt collection calls; and monitor for issues like tax return rejection or mail stoppage, using IdentityTheft.gov as a central resource.
PRACTICES TO AVOID
Identity theft happens when someone uses your personal or financial information without your permission. This information can include: Names and addresses. Credit card or Social Security numbers.
Yes, you should take steps to "lock" or protect your Social Security Number (SSN) by using free services like credit freezes and SSN locks (like E-Verify Self Lock), and by being cautious about sharing it, as this significantly helps prevent employment fraud, tax scams, and unauthorized access to accounts. While no single lock stops all identity theft, combining freezes, locks, monitoring your accounts, and limiting SSN disclosure offers strong defense against fraudsters using your SSN for loans, jobs, or benefits.
For example, if a customer offers a unique identifier such as a social security number and the SSN is already used by another customer, it is potentially a strong red flag or indication of possible identity theft or if a personal document looks fake, it also may represent a potential identity theft red flag.
Reviewing your credit report
Open credit accounts – Make sure you recognize all of the credit accounts that are open under your name. If there are accounts you don't recognize, this could be a sign that someone has opened a credit card, utility, or loan using your name.
Identity Theft Facts
Most stolen cards are used within 48 hours, so it is important to report a missing card immediately.
An extended fraud alert can be placed if you are a victim of fraud or identity theft. It requires a copy of a valid police or law enforcement agency report, or a Federal Trade Commission Identity Theft Report, and lasts for 7 years.
Keep your social security card locked up in a safe at home. Don't carry it around with you in your wallet, as that's an easy way to have it, and your identity, stolen.
You'll know someone is using your information through red flags like unexpected bills or debt collection calls, unfamiliar charges on bank/credit statements, new accounts on your credit report, denied loans, rejected tax returns (due to someone else filing), mail going missing, or alerts about password resets/logins you didn't initiate. Regularly check your credit reports, bank statements, and monitor for IRS notices to catch identity theft early, and use resources like IdentityTheft.gov for help.
Identity theft is when someone takes your name and personal information and uses it without your permission. More than 1 in 5 (22%) of Americans report being victims of identity theft.
A credit freeze restricts access to your credit report. If you suspect someone stole your personal information or identity, placing a credit freeze can help protect you from fraud.
Chase's 5/24 rule is an unofficial policy preventing approval for most of their credit cards if you've opened five or more new personal credit card accounts from any bank in the last 24 months, including cards you're an authorized user on. It counts new cards from other issuers (like Amex, Citi, Capital One) and sometimes Chase itself, but often excludes business cards not reported to personal credit reports. You must be under 5/24 to get approved, meaning you can only have opened four cards in the prior 24 months.