Lauren Smith, WalletHub Staff Writer
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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