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An active-duty alert is a notice that eligible service members have the right to add to their credit reports. These alerts instruct lenders to verify the applicant’s identity before processing loans or credit applications made in the service member’s name. How Does an Active-Duty Alert Work? An active-duty alert is a special kind of fraud […]
What Is an Active-Duty Alert? Read More »
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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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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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
What Is an Identity Theft Affidavit? Read More »
Fraudsters deceive people to steal money and valuable information—and some of them are quite successful. In the U.S., consumers lost over $10 billion to fraudsters and scammers in 2023 alone, a 14% increase from the losses in 2022, according to the Federal Trade Commission (FTC). With a focus on financial fraud, let’s dive into the
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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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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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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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
What Should I Do if My Driver’s License Number Is Stolen? Read More »
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
Fraud Alert vs. Credit Freeze: What’s the Difference? Read More »
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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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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Artificial intelligence (AI) has certainly caused a shakeup in recent years, and people are finding all sorts of ways to use AI to improve their lives. Unfortunately, scammers and fraudsters also are using AI to enhance their schemes. Experian’s Future of Fraud forecast for 2024 warns that AI could make it easier for people to
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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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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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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
What Is Credit Card Shimming? Read More »
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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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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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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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
Is It Safe to Store Money on Payment Apps? Read More »