What are the biggest signs of fraud to watch out for? This question is about Identity Theft: What It Is, How It Happens & the Best Protection

The biggest signs of fraud to watch out for are unfamiliar accounts or inquiries on your credit report, suspicious activity on your credit card accounts, phone calls and emails about financial products you don’t have, and a sudden drop in your credit score. Spotting signs of fraud early makes the issue easier to handle. Biggest Signs of Fraud to Watch Out For Inaccurate information on your credit report New credit cards, lines of credit or loans you did not apply for Rejection letters or notices for credit cards or loans you did not apply for Correspondence regarding merchandise or services you did not purchase Financial accounts frozen due to unusual activity Suspicious emails or phone calls requesting payment Notifications about winning a prize or contest An urgent request to make an immediate payment Notifications about changes to your bank or credit card accounts you did not make Requests to verify sensitive information over the phone or electronically Requests to pay for something using an unconventional method, such as cryptocurrency, a gift card, or a wire transfer Threats with severe consequences (e.g. jail time or hefty fines) if you do not comply with a demand An offer that seems too good to be true To help keep your personal and financial information safe, you can sign up for WalletHub’s free 24/7 credit monitoring service. This will keep you up to date with changes to your credit report, allowing you to detect fraud or identity theft as soon as possible. You can learn more from WalletHub’s guide on what to do after identity theft.

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What are the biggest signs of fraud to watch out for?

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This question is about Identity Theft: What It Is, How It Happens & the Best Protection

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Lauren Smith, WalletHub Staff Writer

@laurenellesmith • 02/10/23 This answer was first published on 02/10/23. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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The biggest signs of fraud to watch out for are unfamiliar accounts or inquiries on your credit report, suspicious activity on your credit card accounts, phone calls and emails about financial products you don’t have, and a sudden drop in your credit score. Spotting signs of fraud early makes the issue easier to handle.

Biggest Signs of Fraud to Watch Out For

Inaccurate information on your credit report
New credit cards, lines of credit or loans you did not apply for
Rejection letters or notices for credit cards or loans you did not apply for
Correspondence regarding merchandise or services you did not purchase
Financial accounts frozen due to unusual activity
Suspicious emails or phone calls requesting payment
Notifications about winning a prize or contest
An urgent request to make an immediate payment
Notifications about changes to your bank or credit card accounts you did not make
Requests to verify sensitive information over the phone or electronically
Requests to pay for something using an unconventional method, such as cryptocurrency, a gift card, or a wire transfer
Threats with severe consequences (e.g. jail time or hefty fines) if you do not comply with a demand
An offer that seems too good to be true

To help keep your personal and financial information safe, you can sign up for WalletHub’s free 24/7 credit monitoring service. This will keep you up to date with changes to your credit report, allowing you to detect fraud or identity theft as soon as possible.

You can learn more from WalletHub’s guide on what to do after identity theft.

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