Identity Theft

What is Identity Theft?

The crime of identity theft occurs when someone, without your knowledge, acquires a piece of your personal information and uses it to commit fraud. In some cases, with as little as a stolen name, date of birth, and social security number, the identity thief is able to cause major damage.

Credit card fraud is the most common type of identity theft.

The thief pretends to be the victim, calls the credit card company and changes the mailing address on an existing account.
Or, more commonly, the thief opens a new credit card account in the victim's name.

Because the bills are being sent to a new address, the victim doesn't realize there's a problem. The thief then uses the credit card without paying the bills, ruining your credit.

Phone or utilities fraud is the second most common type of identity theft.

The thief signs up for cell phone, long distance service, or utilities in the victim's name.

Banking or loan fraud is the third most common type of identity theft.

The thief opens up a bank account in the victim's name, makes electronic fund transfers, and/or writes bad checks on the account.
Loan fraud involves using a victim's name to take out a loan.

Other less common forms of fraud include:

Employment - getting a job using the victims name and identity.
Social Security
Tax Returns
Medical
Residential Leases
Securities and Investments
Bankruptcy Fraud
Illegal Immigration and Miscellaneous government documents

If it happens to you, the damage to your credit and daily life can be devastating. Identity theft victims often are unable to get new credit cards or loans because their credit ratings are harmed so badly.

Coverages

Identity Theft