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Introduction

Identity theft is one of the fastest-growing financial crimes—and it can happen to anyone. As more of our personal and financial lives move online, criminals have more opportunities to steal sensitive information and misuse it for financial gain. Understanding how identity theft happens, how to recognize the warning signs, and what to do if you become a victim can help protect your finances and your peace of mind.

This guide will walk you through practical steps to avoid identity theft, common red flags to watch for, and the actions you should take if your identity is compromised.

How to Avoid Identity Theft

While no one can eliminate risk entirely, there are many steps you can take to reduce your chances of becoming a victim:

• Use strong, unique passwords for each account and update them regularly. Avoid reusing passwords across multiple platforms.
• Enable multi-factor authentication whenever it’s available. This adds an extra layer of protection beyond your password.
• Shred sensitive documents such as bank statements, credit card offers, and insurance paperwork before disposing of them.
• Be cautious of phishing scams. Do not click on suspicious links or open attachments from unknown senders. If a message sounds urgent or too good to be true, it probably is.
• Monitor your bank statements and credit reports regularly to catch suspicious activity early.
• Limit the personal information you share on social media, such as birthdays, addresses, or travel plans.
• Stay informed about emerging threats. Artificial intelligence is reshaping both offense and defense in identity theft, making awareness more important than ever.

Warning Signs You May Be a Victim of Identity Theft

Identity theft is not always immediately obvious. Watch for these common warning signs:

• Unexplained withdrawals or transactions appear in your bank account
• You stop receiving bills or other mail you normally receive
• Merchants refuse your checks or credit applications without a clear reason
• Debt collectors contact you about debts that are not yours
• The IRS notifies you that more than one tax return was filed using your name
• You receive a notice that your personal information was exposed in a data breach

If you notice any of these signs, it’s important to act quickly.

What to Do If You Experience Identity Theft

If you believe your identity has been stolen, take the following steps as soon as possible:

1. Visit www.identitytheft.gov and complete the required information to create a recovery plan.
2. Report the incident to your bank so accounts can be secured and monitored.
3. Contact the companies involved where you know fraudulent activity occurred.
4. Report the theft to law enforcement, especially if instructed to do so by creditors or financial institutions.
5. Place a fraud alert on your credit reports and with ChexSystems to help prevent new accounts from being opened.
6. Report the incident to the Federal Trade Commission (FTC) through IdentityTheft.gov.
7. Notify the IRS if tax-related identity theft is suspected.
8. Know your rights as a victim, which are outlined at IdentityTheft.gov under “Know Your Rights.”

Key Takeaways

• Identity theft can happen to anyone, regardless of age or financial situation.
• Being cautious with your personal information and paying attention to unusual activity can help you catch problems early.
• Free, reliable tools and recovery resources are available at www.identitytheft.gov.

Conclusion: What to Do Next

The best defense against identity theft is awareness and preparedness. Use the tips shared here to strengthen your personal security habits, monitor your accounts regularly, and act quickly if something doesn’t seem right.

Our bank is here to help in any way we can if you believe you may be a victim of identity theft. We also encourage you to sign up for consumer alerts at Identity Theft | Consumer Advice found in the upper right-hand corner of their site. These alerts provide timely information on current scams, trends, and what to watch for next.

Staying informed is one of the most powerful tools you have to protect yourself.