What Is Identity Theft?
Identity theft occurs when someone uses your personal or financial information without your permission. A criminal may use information such as your name, Social Security number, bank account number, credit card number, or medical insurance information to make purchases, open accounts, obtain services, or commit other types of fraud.
Account fraud, scams, and identity theft are related, but they’re not exactly the same:
- Account fraud involves unauthorized activity on an existing account.
- A scam attempts to convince you to send money or disclose information.
- Identity theft involves someone using your personal information without permission.
A scam or data breach can lead to identity theft, and identity theft can result in bank or credit account fraud.
Learn More: What To Know About Identity Theft | Federal Trade Commission
5 Early Identity Theft Warning Signs
No single notification or unfamiliar transaction automatically proves that someone stole your identity. Still, anything you cannot explain should be checked rather than dismissed.
1. Unrecognized Transactions or Withdrawals
Review checking, savings, and credit card activity for purchases, transfers, or withdrawals you didn’t make. Pay attention to small charges, too. They can be easy to overlook when reviewing a long list of transactions.
You can use eBanking or Mobile Banking to review recent transactions and account balances. You can also sign up for alerts about important account activity. These tools don’t prevent every type of fraud, but they may help you notice unusual activity sooner.
Take a few minutes today to review your recent account activity and alert settings.
2. Unrecognized Bills or Accounts
A bill, credit card, collection notice, or loan statement for an account you did not open could indicate that someone used your information.
Your credit report may also show accounts or credit inquiries you do not recognize. AnnualCreditReport.com is the federally authorized source for free credit reports from Equifax, Experian, and TransUnion. The site currently allows consumers to check each report for free every week, and checking your own report does not affect your credit score.
3. Missing Bills or Financial Mail
A bill that stops arriving may seem like a mailing error, but it could mean someone changed the address associated with the account. The Federal Trade Commission identifies missing expected bills as a possible sign that someone may be misusing your information.
Contact the company through a verified website or phone number to confirm your address and account details.
4. Unexpected Login Alerts or Verification Codes
Pay attention to:
- Password-reset emails or texts you didn’t initiate
- Verification codes you didn’t request
- Notices that your password, email address, or phone number changed
- Alerts about a login from an unfamiliar device or location
- Being unexpectedly locked out of an account
Don’t approve login requests or share verification codes with someone who contacts you. If a message claims to be from your bank, sign in through the bank’s official app or website, or call a verified number instead of using the message’s link or phone number.
AbbyBank will not ask customers to share account numbers, passwords, or other personal identification information through social media, email, or text message. Customers can review additional scam-prevention guidance on our website.
Related: Protect Yourself from Bank Impersonation Scams
5. Unexpected Tax, Benefit or Medical Activity
Someone may use stolen information for reasons that don’t immediately affect a bank account. Watch for:
- An IRS notice about a tax return you didn’t file
- Income reported by an employer you don’t know
- A government benefit claim you didn’t submit
- Medical bills or insurance statements for care you didn’t receive
- A notice about a loan or service you didn’t request
The FTC lists tax filings, employment, medical care, and government benefit claims among the ways stolen personal information may be misused.
What to Do If You Notice a Warning Sign
Finding something suspicious can be unsettling. Work through these steps one at a time and keep a record of what you do.
1. Contact the Financial Institution
If the activity involves an AbbyBank account, contact AbbyBank using the contact information on our official website, the back of your card, or another trusted source. If another company is involved, contact that organization directly.
Don’t call a number or follow a link included in a suspicious message.
2. Review Your Recent Account Activity
Check recent transactions, transfers, scheduled payments, and changes to your contact information. Look beyond the first transaction that caught your attention in case other activity is connected.
3. Change Affected Passwords
Change the password for any account that may be compromised. Use a different password for each account so that a stolen password cannot be used across several services.
If the password for your email account was exposed, secure that account as well. Access to your email may allow someone to reset passwords for other accounts.
4. Secure Affected Cards or Accounts
If an AbbyBank debit card is lost, misplaced, or potentially compromised, customers can use Card Controls in the AbbyBank Mobile Banking app to turn the card off. Card Controls can also help customers manage where and how the card is used, including geographic, merchant-type, and transaction-amount settings.
Turning off a card can be a useful response tool, but it doesn’t replace contacting AbbyBank about suspected unauthorized activity or protect other accounts from identity theft.
5. Review Your Credit Reports
Request your reports through AnnualCreditReport.com and look for unfamiliar accounts, balances, addresses, or inquiries. The three reports may not contain identical information, so review each one.
6. Consider a Fraud Alert or Credit Freeze
A fraud alert tells businesses to verify your identity before opening new credit in your name. An initial alert is free, lasts one year, and can be placed by contacting one of the three major credit bureaus; that bureau must notify the other two.
A credit freeze restricts access to your credit report, making it harder for someone to open a new credit account in your name. A freeze is free, lasts until you lift it, and must be placed separately with Equifax, Experian, and TransUnion. You’ll also need to lift the freeze before opening new credit in your name.
7. Report the Identity Theft
Visit IdentityTheft.gov to report identity theft and receive a recovery plan based on what happened. The site can provide recovery steps, help you track your progress and supply forms and sample letters.
8. Keep Detailed Records
Save copies of:
- Suspicious messages and account notices
- Disputed transactions
- Credit reports
- Identity theft reports
- Letters and forms
- Dates, times, and details from phone calls
- Names or reference numbers provided by companies
These records may help as you work with financial institutions, credit bureaus, and other organizations.
Related: Identity Theft Protection: Essential Steps to Safeguard Your Bank Account and Personal Information
When Something Doesn’t Add Up
Some identity theft warning signs are obvious. Others may look like minor errors at first. An unfamiliar transaction, a missing bill, or an unexpected verification code may have a simple explanation, but checking it promptly is better than assuming it’s harmless.
Review your accounts regularly, pay attention to security notifications, and investigate anything you don’t recognize. For more guidance, visit AbbyBank’s identity theft and fraud protection resources.
If you notice suspicious activity involving an AbbyBank account, contact the AbbyBank team using verified contact information or visit a nearby AbbyBank location.
Identity Theft FAQs
What are the first warning signs of identity theft?
Early warning signs may include unfamiliar transactions, unexpected bills, missing financial mail, unknown accounts on a credit report, and password-reset messages you didn’t request. One unusual item doesn’t always mean your identity was stolen, but it should be investigated.
Can someone steal my identity without taking money from my bank account?
Yes. Someone may use stolen information to open a credit account, obtain medical care, file a tax return, claim government benefits, or apply for services in your name without immediately accessing your bank account.
What should I do first if I suspect identity theft?
Contact the affected financial institution or company through a verified phone number or website. Review your recent activity, secure affected accounts, and document what you find. If your identity has been misused, report it at IdentityTheft.gov for a recovery plan.
How often should I review my bank and credit activity?
Review bank and credit card activity regularly and investigate anything you don’t recognize. Account alerts may help identify unexpected activity between reviews. You can also access free weekly credit reports from each of the three major credit bureaus through AnnualCreditReport.com.
