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Identity Theft and Fraud

Your Identity is Your Business.  Protecting it is Ours.

Identity theft and financial fraud can have a serious impact on the lives of consumers left on their own to deal with restoring their identity. The process severely disrupts personal and professional life; it can take months or even years to repair the damage. And there’s no guarantee it won’t happen again.

People who never knowingly experience identity theft are still at risk. We all face the increasingly difficult task of guarding personal information in an environment where names, Social Security numbers, and birth dates are collected and shared across a variety of settings – and are highly valuable commodities.

 

What is Fraud and Identity Theft?

Fraud refers to crimes in which deceptive or false acts are committed for personal, typically financial, gain. Identity fraud is a subcategory in which personally identifying information of others (e.g., social security number, birthdate, credit card) is used to commit fraud. Although identity theft and identity fraud are often used interchangeably, not all theft of personally identifying information results in fraud.*

Warning Signs of Identity Theft*

What do Thieves Do with Your Information?

Once identity thieves have your personal information, they can drain your bank account, run up charges on your credit cards, open new utility accounts, or get medical treatment on your health insurance. An identity thief can file a tax refund in your name and get your refund. In some extreme cases, a thief might even give your name to the police during an arrest.

Clues That Someone Has Stolen Your Information

  • You see withdrawals from your bank account that you can't explain.
  • You don't get your bills or other mail.
  • Merchants refuse your checks.
  • Debt collectors call you about debts.
  • You find unfamiliar accounts or charges on your credit report.
  • Medical providers bill you for services you didn't use.
  • Your health plan rejects your legitimage medical claim because the records show you've reached your benefits limit.
  • A health plan won't cover you because your medical records show a condition you don't have.
  • The IRS notifies you that more than one tax return was filed in your name, or that you have income from an employer you don't work for.
  • You get notice that your information was compromised by a data breach at a company where you do business or have an account.

Must Read Identity Theft and Fraud Information:

Confessions of an ID Theft Kingpin, Part I

Confessions of an ID Theft Kingpin, Part II

Community Bank Owatonna is here to help you!

It's not a matter of IF your identity will be compromised, it's a matter of WHEN! Don't let yourelf become another statistic.  Protect yourself and your loved ones by enrolling in ID TheftSmart™.  Click here to learn how to enroll.  

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