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Americans were victims of identity theft 13 million times in 2019, losing $16.9 billion, Javelin Strategy & Research found. The crimes involved included credit-card fraud, misuse of Social Security numbers and full-on impersonation. Account takeovers were up 72% over the previous year, and openings of fraudulent checking and savings accounts also increased.

You likely won’t know your identity has been stolen until it’s too late. You’ll be denied a loan, a new apartment, or a new phone, and you won’t know why. You’ll get menacing calls about debts that aren’t yours. Or you’ll be told that someone else has already collected your tax refund.

What Should You Do?
If you think you may have been compromised, there are a number of free things you can do:

  • Frequently check your bank and credit-card statements
  • Go to annualcreditreport.com for free yearly credit reports from Equifax, Experian and TransUnion (through April 2021, you’ll be able to get these weekly)
  • Ask the credit reporting agencies to put a free credit freeze on your files

In addition, you may want to consider investing in a identity theft protection service.  Theft protection offers comprehensive monitoring of your financial activity and personal information, and quarterly updates of your credit scores and reports from all three credit bureaus.  We recommend the following three:

  • Identify Force – Family plan: $36, 2 adults, unlimited kids | Credit bureaus monitored: Equifax, Experian, TransUnion | New credit reports: Quarterly | New credit scores: Quarterly | Bank, card accounts monitored: Yes
  • LifeLock – Family plan: No | Credit bureaus monitored: Equifax, Experian, TransUnion | New credit reports: Yearly | New credit scores: Equifax, monthly | Bank, card accounts monitored: Yes
  • IDShield – Family plan: $33, 2 adults, up to 10 kids | Credit bureaus monitored: Equifax, Experian, TransUnion | New credit reports: None | New credit scores: TransUnion, monthly | Bank, card accounts monitored: Yes

Have any questions or need additional information?  Contact a member of the BMT for assistance.