With identity theft, a thief uses stolen personal information, such as a Social Security number or bank account number, to open accounts or initiate several transactions in your name. This may cause financial loss or damaged credit.
In general, identity theft is more extensive than identity fraud. If fraudulent transactions occur on your account, it does not automatically mean your identity was stolen. It may be an isolated incident of theft that can be quickly resolved. Here are just a few ways in which thieves might obtain your identity:
The Fair Credit Reporting Act (FCRA) gives you specific rights when you are, or believe that you are, the victim of identity theft. Learn more about your rights here.
Ways Your Identity Can Be Stolen: