{"id":15768,"date":"2024-08-23T18:53:36","date_gmt":"2024-08-23T18:53:36","guid":{"rendered":"https:\/\/coastccu1dev.wpenginepowered.com\/?p=15768"},"modified":"2024-08-23T18:53:36","modified_gmt":"2024-08-23T18:53:36","slug":"three-common-identity-theft-scams-and-how-to-protect-yourself","status":"publish","type":"post","link":"https:\/\/www.coastccu.org\/three-common-identity-theft-scams-and-how-to-protect-yourself\/","title":{"rendered":"Three Common Identity Theft Scams and How to Protect Yourself"},"content":{"rendered":"

Research shows that 85% of Americans go online on a daily basis with about three-in-ten adults saying they are online almost constantly. While instant access to shopping, information and social interaction is extremely convenient, the threat of identity theft is something that should give you pause. As you scroll or swipe online, beware of these three common identity theft compromises that can wreak havoc on your life and finances.<\/span>
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\n<\/span>Child Identity Theft<\/b>
\n<\/span>Child identity fraud costs U.S. families an average of $1 billion annually and affects one out of every 50 children. Although child ID theft is not new, the increased use of the internet through social media and remote learning has accelerated the opportunities for fraudsters. Child identity theft, generally involving a child\u2019s Social Security number (SSN) and name, is extremely time consuming to resolve and can have long-lasting consequences.<\/span>
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\n<\/span>CapitalCounselor reports that identity fraud incidents reported to the Federal Trade Commission (FTC) increased around 45% in 2020, with children often the target, as their unused Social Security numbers are incredibly valuable. Criminals often use these SSNs for years before anyone even realizes it, causing a massive financial headache for parents and their kids. Victims report many devastating consequences, including the inability to obtain financial aid, enroll in college or pass background checks. The <\/span>Identity Theft Resource Center (ITRC)<\/span><\/a> recommends freezing a child\u2019s credit in an effort to reduce the risk of child identity theft occurring. These freezes restrict access to the child\u2019s credit report, including access by cybercriminals, who may be trying to fraudulently use your child\u2019s identity. These security freezes are free and remain in place until the parent or guardian takes action to remove them or the child takes action to remove them after their 16<\/span>th<\/span> birthday.<\/span><\/p>\n

Account Takeovers<\/b><\/p>\n

Identity thieves are getting more sophisticated at using social engineering techniques to convince people to share personal and business information online. In 2022, the ITRC reported that social media profile theft remained the top type of account takeover, jumping 288% over the previous year. This generally occurs when scammers impersonate people their victims know, in an effort to obtain sensitive personal information or gain access to their trusted contacts in hopes of scamming others.<\/span>
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\n<\/span>Of those who reported being victims of a social media account takeover to the ITRC:\u00a0<\/span><\/p>\n