The fraudulent use of someone’s personal information, often to open accounts or make purchases. It’s important to protect your personal data to avoid this.
What to consider
Be vigilant by checking your financial statements often.
Use strong passwords and monitor your credit regularly.
Know the steps to take immediately if you suspect fraud.
Real world scenarios
Suspecting identity theft, Alvaro places a fraud alert on his credit reports and changes all online passwords.
Kayla sees a suspicious loan inquiry she never initiated. She promptly locks her credit to prevent new accounts from opening.
Rob files an identity theft report with the FTC, then works with each credit bureau to clear unauthorized charges on his record.