Identity Theft Is on the Rise: Here’s How to Be Ready
Identity theft is becoming more common, and while that’s unsettling, being prepared can help reduce stress and protect your finances if it ever happens to you.
The FBI’s newly released Internet Crime Report paints a sobering picture: more than 1,008,000 complaints were filed with the Internet Crime Complaint Center (IC3) last year, and losses totaled nearly $20.9 billion. Buried in the report is a concerning trend: identity theft is hitting older adults harder than ever. In 2025 alone, Americans age 60 and older filed 5,359 identity theft complaints, reporting $48.5 million in losses, a significant jump from the year before.
Most cases start online, through phishing emails, scam text messages, or malware designed to steal personal information.
The Federal Trade Commission reports that once someone steals your identity, it can take six months, hundreds of hours, and well over $1,000 to set things right. That’s why acting fast is so important if you notice anything suspicious.
Think Your Identity May Have Been Stolen? Start Here.
If you believe your personal or financial information has been compromised, these steps can help limit the damage:
- Freeze your credit to stop new accounts from being opened in your name.
- Place a fraud alert on your credit report.
- File a report with your local police department.
- Report the theft to the Federal Trade Commission (FTC).
- Contact the company or agency that issued the stolen information.
- Notify other companies where your information could potentially be used.
- Change all passwords, especially for financial and online accounts.
- Check your credit reports and dispute anything that doesn’t look right.
- Review bank and credit card statements for unauthorized transactions.
- File an identity theft insurance claim, if you have coverage.
- Sign up for credit monitoring to keep an eye on future activity.
A Little Preparation Goes a Long Way
Identity theft can feel overwhelming but knowing what to do, and acting quickly, can make the process easier and give you greater peace of mind.
Extra Protection with our Benefits Checking Account
With Benefits Checking, you’ll have:
- A personal advocate who works with you on identity restoration
- Notifications from credit bureaus, creditors, collectors, etc.
If you’d like to learn more or open an account, stop by or contact your local office. We’re always happy to help.
