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on Friday, March 27, 2026
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Watch Out for Common Types of Identity Theft
Identity theft continues to affect millions of consumers each year, making it important to understand how it happens and what steps you can take to protect yourself. By staying informed and practicing safe financial habits, you can reduce your risk and better safeguard your personal information.
Below are several common types of identity theft and ways to help prevent them:
Account takeover fraud – In this type of fraud, scammers use stolen information like usernames, passwords and account numbers to take over social media and bank accounts. Then, they reset passwords or emails to lock the user out of their own accounts.
- Action step – Enable multifactor authentication (MFA) and consider using a password manager. MFA adds an extra security step to prevent unauthorized access even if your password is stolen. Password managers create strong, difficult-to-guess passwords to keep criminals at bay.
Debit and credit card fraud – Fraudsters use stolen account information to withdraw funds or make purchases with your card.
- Action step – Put a freeze on cards the minute they’ve been lost or misplaced, and quickly request a new card if the old one is lost for good. Additionally, regularly monitor accounts for suspicious transactions and report it quickly.
Tax fraud – With tax season in full swing, it’s important to avoid fraudsters posing as the IRS. This occurs when criminals use your Social Security number to file a tax return to steal your refund.
- Action step – Be aware the IRS will always make its first official contact via mail. Do not answer or respond to any supposed calls or texts from the IRS if you haven’t first received a letter.
Learn More
Staying alert to the warning signs of identity theft and regularly monitoring your financial accounts can help you detect suspicious activity early. If you believe your information has been compromised, contact your financial institution immediately for assistance.
These tips are provided by the Iowa Bankers Association