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Security Information > What is Identity Theft?
What is Identity Theft?
Identity theft happens when a criminal obtains your personal information to steal money from your accounts, open new credit cards,
apply for loans, rent apartments and commit other crimes — all using your identity. These acts can damage your credit, leave you
with unwanted bills and cause you countless hours and frustration to clear your good name.
Examples of Identity Theft:
Phishing
“Phishing” (pronounced “fishing”) is when criminals use email to try to lure you to fake websites, where you are asked to disclose
confidential financial and personal information, like passwords, credit card account numbers or Social Security Numbers.
The most common type of “phish” is an email threatening some dire consequence if you do not immediately log in and take action.
You should never respond or reply to email that:
- Requires you to enter personal information directly into the email or submit that information some other way.
- Threatens to close or suspend your account if you do not take immediate action by providing personal information.
- Solicits your participation in a survey where you are asked to enter personal information.
- States that your account has been compromised or that there has been third-party activity on your account and requests
you to enter or confirm your account information.
- States that there are unauthorized charges on your account and requests your account information.
- Asks you to enter your User ID, password or account numbers into an email or non-secure webpage.
- Asks you to confirm, verify, or refresh your account, credit card, or billing information.
Email fraud is a common tool of an identity thief. It can take many forms, but is usually harsh, demanding and scary.
Phishing scams now have a phone connection
First, it was "phishing," where criminals send email by the thousands in hopes of tricking unsuspecting consumers into sharing
confidential information. These messages often include a link to a fraudulent website.
Now, there’s “vishing.” In this latest twist, they use a telephone number instead. When you call, a person or an automated response
asks for your personal and/or account information.
Don't fall for it!
When you call your bank, use only a phone number that comes from a reputable source, like your statement, the back of your credit
or debit card or the phonebook.
Other examples of Identity Theft
- Illegitimate offers are emails that entice users to purchase popular goods or services at reduced prices (or before they're
available to the general public), with no intent to deliver those purchases. Usually, these emails are designed primarily to obtain
credit card or bank account information.
- Requests for help usually offer a recipient large sums of money or attractive rewards in exchange for "short term"
financial assistance. One common example is the “sender” who asks the user to supply a bank account number to "hold" large sums
of money until the “sender” can retrieve it. In exchange, the recipient is promised a percentage of the deposit. The “sender” uses the
bank account number for fraudulent activity, and the recipient never receives the promised funds.
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