- What is identity theft?
- Types of identity theft
- How thieves get your personal information
- Keep important numbers safe
- Keeping prying eyes out
- Keep online transactions safe
- Identity theft warning signs
- What is a fraud alert?
- What is security freeze?
- Resources for more information
Identity theft is when someone obtains personally identifying information from another individual without permission, then uses that information to assume that person's identity. Perpetrators of identity theft may use the information they steal to take control of bank accounts, open new credit cards, commit crimes, perpetrate fraud, carry out transactions, and make purchases in the victim's name.
Identity theft is a serious threat. It can compromise your name, Social Security number, bank and credit card account numbers, medical record and health insurance information, and other personally identifying data. It is also on the rise.
According to a 2014 report from Javelin Strategy and Research, 13.1 million people in the U.S. became victims of identity fraud in 2013, an increase of 500,000 over 2012. Data breaches were the main source of fraud that year, with one in three people who received notifications of a data breach discovering their identities were being used fraudulently. Someone in America becomes a victim of identity fraud every two seconds.
Identity theft has deep financial repercussions that can affect a person's credit, financial security, taxes, insurance, and overall financial health for years to come. Your best protection is to educate yourself about identity fraud and be on the alert for signs someone has accessed your personal information so you can take prompt action.
*Non-deposit investment products and services are offered through CUSO Financial Services, L.P. ("CFS"), a Registered Broker-dealer (Member FINRA/SIPC) and SEC-registered Investment Advisor. Products offered through CFS: are not NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union, and may involve investment risk including possible loss of principal. Investment Representatives are registered through CFS. General Electric Credit Union has contracted with CFS to make non-deposit investment products and services available to credit union members.
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