Identity Theft and Fraud - How Do I Know I've Been Victimized?

Identity theft and fraud has claimed over nine million victims in America within a recent 12-month period. Out of this number, most of the victims (85%) discovered they were victimized in a negative manner (they noticed a financial/material loss). Only the remaining minority found out because of proactive action taken by the company or business to detect identity theft and fraud.

Despite widely publicized news stories, many find out they are victims of identity theft and fraud only when it is too late to do anything about it – other than damage control and trying to clean up a tarnished financial reputation.

Identity Theft and Fraud - 5 Signs That Should Set Off the Alarm

Following are some things that should alert you that you have been targeted by crafty perpetrators of identity theft and fraud.

1. The monthly statement from your bank shows withdrawals or transfers you can't recall. You may be a victim of bank fraud.
   
   
2. Your checkbook is missing some checks. New checkbooks don't arrive in your mail. Recent statistics show illegal use of others' checking accounts as the fastest growing kind of identity theft and fraud.
   
   
3. Your bills show strange purchases you never made or you get billing statements for credit accounts or cards you didn't open. A collection agency may even call you to remind you to pay for things you never bought. Out of the total number of cases of credit card identity theft and fraud, 73% of the victims complained that someone else opened a card under their name, while 27% said someone took over their account to make fraudulent purchases.
   
   
4. Your billing cycle ends and yet you still haven't gotten your statement. It may have been diverted identity theft and fraud perpetrators to another address. Also watch out for other missing mail you expected to arrive. A thief may be periodically raiding your mailbox.
   
   
5. You are unexpectedly rejected for a loan, new credit card, or mortgage. Your credit records indicate debts you don't recall incurring.

A final word of warning: Most perpetrators of identity theft and fraud (68.2%) where the methods were discovered used traditional means to commit the crime. Here are the top methods used by thieves.

• Stealing wallets
• Stealing mail
• Family, acquaintances, friends misappropriating credit cards

These three areas where you're most open to attack should set off alarms by themselves. It would be foolhardy to wait for signs that you're already a victim of identity theft and fraud before you begin to take action.