What Is Identity Theft?

Identity theft is one of the fastest-growing crimes in the United States. It involves the unauthorized use of someone's personal information for fraudulent purposes.

Types of identity theft:

Financial — Opening credit cards, taking out loans, or accessing bank accounts in your name.

Tax — Filing fraudulent tax returns to steal your refund.

Medical — Using your identity to obtain medical care or prescriptions.

Criminal — Giving your identity to law enforcement during an arrest.

Child — Using a minor's Social Security number (often undetected for years).

Synthetic — Combining real and fake information to create a new identity.

Steps to take if you are a victim:

Place a fraud alert on your credit reports by contacting one of the three major bureaus (Equifax, Experian, TransUnion). It automatically applies to all three.

Review your credit reports for unauthorized accounts or inquiries.

Report to the FTC at IdentityTheft.gov to create a recovery plan.

File a police report with your local law enforcement.

Freeze your credit to prevent new accounts from being opened.

Close compromised accounts and dispute fraudulent charges.

Monitor your accounts and credit reports regularly.

Legal protections:

Fair Credit Reporting Act — Right to dispute inaccurate information.

Fair Credit Billing Act — Limits liability for unauthorized credit card charges to $50.

Electronic Fund Transfer Act — Limits liability for unauthorized debit card use.

Identity Theft and Assumption Deterrence Act — Makes identity theft a federal crime.

This is legal information, not legal advice.