What do identity thieves do with your information?

Identity thieves could use your information to apply for a credit card or loan in your name, change the address or other personal details on your financial accounts, withdraw funds from your bank, or use your identity in the event of an arrest or other legal matters. They essentially pretend to be you and commit fraud in your name.

The Federal Trade Commission received 1.1 million identity theft complaints in 2022 – the most recent data available. You can see a breakdown of the most common types of identity theft complaints below.

Most Common Types of Identity Theft Reports

Source: Federal Trade Commission (FTC), Consumer Sentinel Network Data Book 2022

The most common kind of identity theft report in 2022 involved credit card fraud, with 441,822 complaints logged – mostly about new accounts. This was followed by “other identity theft,” which drew 326,590 complaints and includes issues related to email, social media, insurance, medical services, online shopping, and more.

Identity theft is possible when criminals have access to your unique personally identifiable information (PII). As a result, it is very important to safeguard these key details.

Personally Identifiable Information (PII)

• Full name
• Birthdate
• Birthplace
• Home address
• Mailing address
• Email addresses
• Driver’s license number
• Social security number
• Passwords
• Credit card numbers
• Insurance information
• Financial information
• Medical records
• Login credentials

How to Protect Your PII

Consider shredding documents with your personally identifiable information (PII), locking your mailbox, and encrypting sensitive data or keeping it in a secure location.

Additionally, use strong passwords and enable two-factor authentication, keep software and security systems up to date, regularly monitor financial accounts for suspicious activity, and use a virtual private network (VPN) when accessing the internet on public Wi-Fi.

Learn more about identity theft and how to prevent it here at WalletHub.