Financial Crime World

Identity Theft Alert: Small Errors on Credit Report Could Be a Sign of Larger Problem

A small mistake on your credit report from Equifax, TransUnion, or Experian could be more than just an error - it could be a sign that your identity has been stolen.

Warning Signs

  • New accounts you didn’t open
  • Debt collection calls for services you don’t recognize
  • Loan rejections due to poor credit scores despite having good credit history
  • Not receiving mail from the post office
  • Tax returns being rejected by the IRS

If you notice anything suspicious on your credit report, it’s crucial to act quickly. Report any discrepancies to the Federal Trade Commission using the IdentityTheft.gov website.

Prevention is Key

While identity theft can happen to anyone, there are steps you can take to protect yourself:

  • Sign up for an identity theft protection service to monitor the dark web and credit bureaus
  • Avoid phishing attempts by being cautious with emails and texts
  • Regularly check your bank and credit card statements for accuracy
  • Request a free credit report from each bureau every week at AnnualCreditReport.com
  • Use strong passwords and set up two-factor authentication on all accounts
  • Guard your Social Security number and avoid sharing it unnecessarily

By taking these precautions, you can significantly reduce the risk of identity theft.

Rating Identity Theft Protection Services

CNET reviews identity theft protection services by evaluating their functionality, user experience, software interface, and customer support. We also look for specific features such as credit monitoring capabilities, identity theft insurance, and restoration services.

If you’re concerned about identity theft, consider signing up for an identity theft protection service like Aura, which offers comprehensive monitoring and alerts. You can also sign up for separate credit monitoring services, such as Experian’s offering, which earned a CNET Editors’ Choice badge this year.

FAQs

  • What do identity theft protection services monitor?
    • They monitor your personal identifiable information on the dark web and alert you if it’s used to open new accounts or commit crimes.
  • How quickly will I be alerted of suspicious activity?
    • Credit monitoring alerts may not be instantaneous, but you can also review your monthly statements and request free credit reports each year.
  • Can I still get insurance coverage if my identity is stolen before signing up for an ID theft protection service?
    • No, you may not be eligible for insurance coverage in such cases.
  • What should I do if my identity is stolen?
    • Report cases of identity theft to the Federal Trade Commission online at IdentityTheft.gov and contact any third-party institutions where evidence of fraud was found.

Stay vigilant and protect yourself from the threat of identity theft.