How Debt Collections Impact Your Credit and How to Avoid Them

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Understanding Identity Theft and Fraud in 2023

Identity theft and related fraud have become increasingly prevalent, with losses exceeding $10 billion in the U.S. in 2023, according to the Federal Trade Commission (FTC). Being aware of these scams can help you recognize and prevent them, or minimize the damage if your personal information is misused.

Types of Identity Theft and Fraud

Identity theft and fraud can take many forms. Here are 20 different types to be aware of:

Account Takeover Fraud

Criminals use stolen personal information to hijack bank accounts, credit cards, and other services. They change account details to prevent the owner from accessing it.

Prevention Tips:

• Regularly check your social and financial accounts.
• Use multifactor authentication.
• Consider using a password manager.

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