PROTECTING YOUR IDENTITY DIGITALLY — Synthetic Identity Theft Over The Internet
In today’s interconnected world, identity theft has evolved into a sophisticated and increasingly common form of fraud: synthetic identity theft.
This malicious scheme blends real and fake information to create new identities, often causing significant financial and emotional harm to victims. Understanding how it works and how to safeguard your identity is crucial for protecting yourself and your loved ones.
At R23 Law, our California Identity Theft Lawyers specialize in helping victims of this complex crime reclaim their lives and pursue justice. Below, we delve deeper into synthetic identity theft, its consequences, and practical steps to guard against it.
What Is Synthetic Identity Theft?
Synthetic identity theft occurs when fraudsters combine real personal data, like Social Security numbers, with fabricated details such as names, dates of birth, and addresses to create fake identities. These false profiles are used to open accounts, secure loans, or commit other fraudulent activities, often leaving the victim unaware for years.
Unlike traditional identity theft, synthetic identity theft can go undetected because it doesn’t directly target an existing account. Instead, the fraudster establishes a new identity that may not immediately tie back to the original victim.
Who Is Most at Risk?
Certain groups are disproportionately targeted by synthetic identity theft:
Children: Their Social Security numbers are often unused, making them prime targets for fraudulent credit activity.
Seniors: Reduced credit monitoring among older individuals makes detection difficult.
Incarcerated Individuals: Their lack of financial activity provides opportunities for identity misuse.
How Synthetic Identity Theft Works
Fraudsters acquire sensitive data through various means, including:
Data Breaches: Large-scale breaches often expose Social Security numbers and other personal information.
Phishing Scams: Fraudulent emails or messages trick victims into sharing sensitive details.
The Dark Web: Stolen information is frequently sold on underground marketplaces.
Once the fraudster has the data, they fabricate a new identity and begin building a credit history by applying for small loans or credit cards. After establishing credibility, they make large purchases or take out significant loans before disappearing, leaving the victim with damaged credit.
How to Protect Yourself from Synthetic Identity Theft
While no method offers absolute protection, the following steps significantly reduce your risk:
1. Monitor Your Credit Reports Regularly
Under federal law, you can access your credit report annually from each of the three major bureaus: Equifax, Experian, and TransUnion. Look for accounts or inquiries you don’t recognize.
2. Freeze Your Credit
Placing a credit freeze restricts access to your credit file, making it harder for fraudsters to open accounts in your name. This is particularly effective for children’s Social Security numbers.
3. Safeguard Personal Information
Avoid sharing sensitive information like Social Security numbers or birthdates online unless absolutely necessary. Be wary of phishing attempts and unsolicited requests for personal data.
4. Use Fraud Alerts
Consider placing a fraud alert on your credit file. This warns creditors to take additional steps to verify your identity before extending credit.
5. Act Quickly if You Suspect Fraud
If you notice unusual activity, immediately contact the credit bureaus, file a report with the Federal Trade Commission (FTC), and consult an experienced identity theft attorney.
Taking Action Today
Synthetic identity theft is a complex and growing problem, but you don’t have to face it alone. If you suspect you’ve fallen victim, time is of the essence. Contact R23 Law Consumer Protection Attorneys for a free consultation to discuss your options and begin the path to recovery.
By staying vigilant and informed, you can protect yourself and your loved ones from the long-lasting effects of identity theft.
