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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 »
Data breaches are so commonplace that there’s a good chance some of your personal information has already found its way onto the dark web. This might include your: Name, address and phone number Social Security number Emails, usernames and passwords Medical records and account numbers Financial account numbers and details Driver’s license and passport information
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People commit insurance fraud when they lie or twist facts to squeeze money from insurers. The FBI estimates the annual cost of insurance fraud (excluding health insurance fraud) at $40 billion, with the typical U.S. family paying annual premium hikes between $400 and $700 as a result. What Is Insurance Fraud? Insurance fraud happens when
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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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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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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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Medical identity theft happens when someone uses your personal information to get medical care. They might buy medical devices, order prescription drugs or even have their provider bill your insurance company for a medical procedure. Getting everything corrected can be time-consuming and stressful. Additionally, medical identity theft could be dangerous when it results in errors
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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
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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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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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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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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 »
As long as personal credentials are stored and transmitted electronically, criminals will try to steal identities and open new credit accounts. Steps you take today, however, can help protect you from becoming a credit fraud victim. Keys to avoiding credit fraud include being aware that it can occur, keeping alert for signs of fraudulent activity,
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When it comes to your identity, there’s no surefire way to protect it from identity thieves. Criminals who gain access to your personal information can use it for nefarious purposes like opening credit accounts in your name, committing tax fraud and more. While some things are out of your hands when it comes to protecting
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Personally identifiable information (PII) is information about you that helps to tell you apart from everyone else. These unique identifiers include your Social Security number (SSN), address, date of birth, email addresses and phone number. You use your personal information to identify yourself to governments as well as banks, creditors and other businesses. For example,
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If you’re the victim of identity theft, there are five steps you should take right away to help hamper the thief’s actions and limit your exposure. You can then focus on recovering your identity and putting protections in place to reduce the chance of someone using your identity in the future. 5 Steps to Take
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Children and teens today live much of their lives online, which makes them prime targets for online scams. Cyber fraud is growing faster among victims aged 20 and under than any other age group, according to data from the Internet Crime Center. Scams that target children include everything from fake scholarships and contests to online
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