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20 Different Types of Identity Theft and Fraud

20 Different Types of Identity Theft and Fraud

Identity theft and related fraud take many forms, and in 2023, these crimes racked up losses of more than $10 billion in the U.S., according to the Federal Trade Commission (FTC). Familiarity with these scams can help you recognize them before you or a loved one become a victim—or minimize the damage if your personal […]

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What Is Employment Identity Theft?

What Is Employment Identity Theft?

Employment identity theft happens when someone uses your Social Security number or other personal identifying information for employment purposes. Identity thieves may use your identity to get a job they aren’t qualified for or collect wages using your Social Security number. Employment identity theft can cause you problems with the IRS or wreak havoc with

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What Is an Identity Theft Affidavit?

What Is an Identity Theft Affidavit?

If you’ve been victimized by identity theft, you may want to fill out an identity theft affidavit. An identity theft affidavit is a form that provides information about yourself and the identity theft to creditors, credit reporting agencies and the IRS. What Is an Identity Theft Affidavit? A victim of identity theft can complete an

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How Common Is Credit Card Fraud?

How Common Is Credit Card Fraud?

Credit card fraud is one of the most common types of fraud according to the Federal Trade Commission (FTC). In the first half of 2024 alone, there were over 214,000 reports of credit card fraud. Many credit cards offer zero liability protection, meaning you aren’t responsible for unauthorized transactions. Still, credit card fraud is a

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How to Stop Scam Calls

How to Stop Scam Calls

Spam phone calls represent the No. 1 complaint received by the Federal Communications Commission (FCC). Both legitimate and spam calls come from real people or from recorded or autogenerated voice messages known as robocalls. But it’s the spam calls—which often try to trick you into giving up money or information—that are the biggest nuisance. For

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What Is Identity Theft?

What Is Identity Theft?

Identity theft is when someone steals your personal information and uses it without your permission. Fraudsters may use your information to access your financial accounts, open bank and credit card accounts, file tax returns and more. In 2023 alone, the Federal Trade Commission (FTC) received more than 1 million reports of identity theft. There’s no

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Financial Peace University vs. True Financial Freedom vs. Crown Financial MoneyLife

What Should I Do if My Driver’s License Number Is Stolen?

Your stolen driver’s license number can be the key that helps unlock all sorts of fraud, such as opening financial accounts in your name or creating fake IDs. Whether it’s stolen in a data breach or out of your wallet, it can wreak havoc on your finances. Here’s what to do if someone steals your

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Fraud Alert vs. Credit Freeze: What’s the Difference?

Fraud Alert vs. Credit Freeze: What’s the Difference?

In the world of credit, you’ve probably heard the terms “fraud alert” and “credit freeze.” You have the right to add either one to your credit report, but what’s the difference between the two? Fraud alerts and credit freezes are both ways to protect yourself from fraud, but they work differently. A fraud alert on

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How to Avoid Financial Scams

How to Avoid Financial Scams

Americans lost more than $10 billion to fraud last year, according to data from the Federal Trade Commission (FTC). That’s a 14% increase from 2022. And certain types of fraud are growing at an even faster pace: Losses to investment scams grew nearly 21% year over year, with consumers’ reported losses totaling over $4.6 billion

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What Is the “Say Yes” Scam?

What Is the “Say Yes” Scam?

Media reports and social media posts increasingly warn of a scheme you may not be familiar with—the “say yes” scam. So what is the “say yes” scam? A caller poses a simple question in hopes of prompting you to respond with the word “yes.” If you answer, it can lead to more calls from scammers

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How to Avoid Peer-to-Peer Payment Fraud

How to Avoid Peer-to-Peer Payment Fraud

Banking apps are meant to simplify your financial life, but there are vulnerabilities to keep in mind. Some scammers develop fake banking apps designed to grab your personal or financial information and then commit fraud. Before you use a banking app like Venmo, Zelle or Cash App, be sure to verify that the app is

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11 Ways to Protect Yourself From Identity Theft

11 Ways to Protect Yourself From Identity Theft

Every year, more than a million Americans report being victimized by identity theft. This crime occurs when somebody nabs your personal or financial information without your permission, and potentially uses it to make purchases or open accounts in your name. Fortunately, you can take steps to help avoid identity theft. Let’s go over 11 ways

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What Is Credit Card Shimming?

What Is Credit Card Shimming?

Credit card shimming is a technique used by identity thieves to steal credit card data. It’s done by placing a small device on a payment terminal that scans your card’s microchip and stores card information. Data from the device can then be downloaded and used to commit fraud. While shimming is a common threat, especially

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How Homeowners Can Protect Themselves From HELOC Fraud

How Homeowners Can Protect Themselves From HELOC Fraud

Homeowners who want to borrow money without refinancing their mortgage may turn to a home equity line of credit, or HELOC. The option can be particularly attractive if you have a low-rate mortgage but want to tap the equity they’ve built in their home. However, you also need to watch out for fraudsters who want

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What Is Cybersecurity?

What Is Cybersecurity?

The importance of cybersecurity is increasing as cyberattacks become more prevalent and the damage they cause increases. Whether you manage finances online, have social media profiles or want to keep your personal information private, implementing a few cybersecurity best practices can help. What Is Cybersecurity? Cybersecurity refers to the wide range of processes and tools

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How Does Identity Theft Happen?

How Does Identity Theft Happen?

There’s no shortage of ways for identity thieves to steal your personal information so they can gain access to your existing accounts and open new accounts in your name. While there’s no foolproof way to avoid becoming a victim of identity theft, staying alert and taking proactive steps to protect your information can make it

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Is It Safe to Store Money on Payment Apps?

Is It Safe to Store Money on Payment Apps?

More than three-fourths of American adults have used a payment app, and the owners of these apps insist this technology is safe and transparent. But are you aware of a potential hazard associated with using these apps as a place to park your cash? Because money stored on payment apps is generally not insured, it

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What Is Social Engineering and How Can You Protect Yourself?

What Is Social Engineering and How Can You Protect Yourself?

Hackers might be able to break into computers, but well-trained attackers can trick you into willingly giving them information and money. These types of tricks are commonly called social engineering. When a person or company says they got hacked, there’s usually an element of non-technical trickery involved. Learning how to detect various types of social

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