Under the Red Flags Rule, certain businesses and organizations are required to implement a written Identity Theft Prevention Program to aid in detecting the warning signs of identity theft as it pertains to day-to-day operations. These identity theft red flags not only help with regularity compliance, but also create a baseline for businesses to assess and manage various risks. Below, we talk about 15 signs of identity theft that businesses should think about when incorporating identity theft prevention programs:
- Consumer report fraud alerts should be considered potential red flags of identity theft.
- A credit freeze is issued in response to a request for a consumer report. This is a red flag because consumers issued a credit freeze are less likely to apply for credit.
- Unusual credit activity, like increased spending, credit inquiries, and newly opened accounts found in credit reports.
- Customer identification documents appear to be forged or altered.
- The picture on the ID doesn’t look like the consumer in front of you.
- Inconsistent identification information provided by the person opening the account.
- Altered or forged applications.
- The consumer’s Social Security number range and date of birth don’t match.
- The customer provides personal identifying information linked to a known fraudulent account.
- The Social Security number provided is identical to other people who have opened an account.
- The address or phone number on the application is the same as other applicants.
- The person trying to open the account can’t provide additional information necessary for completing the application.
- A notice of address discrepancy is provided by a consumer reporting agency.
- The customer fails to make the first payment and exhausts most of their credit for cash advances.
- Inactive accounts suddenly become unusually active.
Get Identity Theft Protection Today
Do you have questions about protecting your identity? Talk to our friendly insurance administrators to get the answers you are looking for. We offer comprehensive identity theft insurance policies that will ensure you get the protection you deserve. Our experienced professionals will work with police, creditors, the government, and crediting agencies, to quickly report any suspicious activity on your accounts. Get relief today!
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