There are two types of identity theft:

There are two types of identity theft:

  • “Existing account fraud” or “account takeover fraud” occurs when a thief acquires your credit or debit card information and purchases products and services using either the actual card, a counterfeit card, or the account number and expiration date.  Victims may not learn of account takeover until they receive their monthly account statement.
  • “New account fraud” or “application fraud” occurs when a thief uses your SSN and other identifying information to open new accounts in your name. Victims are not likely to learn of application fraud for some time, because the monthly account statements are mailed to an address used by the imposter.
  • Everyone needs protective services.

1 Way Identity Theft Can Hurt You

Hurt Your Job Prospects

Many employers now routinely look at credit history when assessing job candidates. (About half, according to a 2012 study by the Society for Human Resource Management.) A report pockmarked by ID theft-related errors could sink your application. Employers can’t reject you because of what they see on your credit report without telling you, but then, employers can also gin up any old excuse for rejecting you. Legislation to eliminate the practice has been proposed by Sen. Elizabeth Warren (D-Mass.) and others, and a few states limit it, but odds are you live in a place where an impostor can steal both your money and your job prospects