Identity theft has become very common nowadays, and millions of people become victims of identity fraud every year. That is why you must remain aware of the various signs of identity theft to save your customers or members from massive financial loss. Business Identity Protection is important for every entity. So, here we have listed some of the signs that you need to keep a watch for so that you can protect your customers themselves from identity theft:
Unexplained Transactions On Your Bank Account:
An unexplained transaction on your bank account or credit card is an indication that your bank account has been hacked. You may sometimes see a list of transactions you do not remember making. This situation frequently happens when you do not regularly check your bank account statements. These signs are pretty easy to overlook if you are not careful enough.
What most hackers do is that they make one or two small transactions, in the beginning to check whether the transactions are being noticed or not. They start making more significant transactions once they discover that the smaller transactions have gone unnoticed. However, if you can catch these unexplained transactions on time, you can save yourself from more significant damage.
Your Credit Card Is Suddenly Being Declined:
This is yet another reason which indicates that there is some unusual activity going on in your bank account. Sometimes, your credit card gets declined all of a sudden. This commonly happens when you have excellent credit. This is another vital sign that you need to watch out for. A declined credit card could mean fraudulent activities have been made from your account.
The hacker may have also opened a fraudulent account in your name and has been making payments from the credit card without clearing the bill. This can cause your credit card score to drop, and your card will get declined. This situation will have to be reported as soon as possible.
You Are Constantly Being Denied For New Credit Cards:
In some cases, you may not observe any noticeable signs of identity theft until and unless you apply for a new loan or a credit card under your name. You may be expecting to get quick approval for the same. However, your application gets denied, and the explanation for that makes it seem utterly relevant to you. This is the sign which indicates that there is some unusual activity going on in your account that requires proper investigation.
You Suddenly Get a New Credit Card That You Did Not Apply For:
Credit card companies do not suddenly send you credit cards without any prior information. So, if you do end up receiving a credit card, then instead of thinking it to be a mistake and tossing the card in your dustbin, you need to call the credit card company and check what is happening. This is going to provide you with the proper exposure to the matter, and you will also be able to understand whether your finances are being handled by someone else or not.
And these are some of the common signs of identity theft. For more information on Breach Detection Services, you may contact us.