Identity theft is one of the fastest growing crimes in the U.S. At Commercial Trust Company, keeping your financial information safe is one of our highest priorities—and understanding how identity theft works is an important part of protecting yourself.
Below, we’ll walk you through what identity theft is, the most common ways it happens, and simple steps you can take to stay safe.
What Is Identity Theft?
Identity theft occurs when someone uses your personal information—like your name, Social Security number, birthdate, or account credentials—without your permission. Criminals use stolen information to open accounts, make purchases, withdraw money, or commit fraud in your name.
How Identity Theft Happens
Identity thieves are always adapting, but some of the most common methods include:
1. Phishing and Social Engineering
Scammers may send emails, text messages, or even call pretending to be your bank or another trusted organization. They often pressure you to “verify your account,” “reset your password,” or “confirm suspicious activity.”
2. Data Breaches
Largescale security breaches at retailers, service providers, or other institutions can expose personal details that criminals later use for fraud.
3. Theft of Physical Documents
Mail, checks, billing statements, and improperly discarded documents can provide thieves with sensitive information.
4. Malware and Unsafe Internet Practices
Viruses, keyloggers, ATM skimmers, and unsafe websites can give criminals access to login details or personal data.
Warning Signs of Identity Theft
You may be experiencing identity theft if you notice:
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Unexpected withdrawals or unfamiliar account activity
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Bills or statements you normally receive stop arriving
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New accounts or credit inquiries you didn’t initiate
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Notifications about password resets you didn’t request
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Calls or letters about debts that aren’t yours
If you think something is wrong, contact us immediately—fast action can reduce the impact.
How to Protect Yourself
While identity theft is serious, there are many practical steps you can take to reduce your risk:
Protect Your Personal Information
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Never share card numbers, PINs, or account details over the phone, email, or social media.
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Shred documents containing sensitive information.
Use Strong, Unique Passwords
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Use a different password for each account, change your password frequently, and avoid easily guessed words.
Enable MultiFactor Authentication (MFA)
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Whenever possible, turn on MFA for online banking and any apps or websites that contain your financial data. This adds a layer of protection even if your password is compromised.
Be Cautious Online
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Avoid clicking links in unexpected texts or emails.
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Ensure websites are legitimate—look for the correct domain names (example: Microsoft.com vs Microsoftaccount.com). Avoid clicking on pop-ups or sponsored websites or ads.
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Keep your devices updated and use trusted antivirus tools.
Monitor Your Accounts Regularly
Check statements, enable account alerts, and review transactions often. If something looks off, contact us right away.
Monitor Your Credit Activity
Federal law guarantees you one free credit report every 12 months from each of the three nationwide credit reporting agencies: Equifax, Experian, and TransUnion. You can request your free annual credit report one of three ways:
Online (Fastest)
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Visit the official, federally authorized website:
https://www.annualcreditreport.com
By Phone
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Call the toll-free number:
18773228228
By Mail
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Print and complete the Annual Credit Report Request Form (available via the FTC), then mail it to:
Annual Credit Report Request Service
P.O. Box 105281
Atlanta, GA 303485281
Beware of imposter sites that charge for “free” reports. Only use Annual Credit Report. You may receive reports from all three bureaus at once or stagger them throughout the year.
Beware of Social Engineering
Social engineering can take the form of pretext calling or texting, shoulder surfing, and other social tactics criminals use to gather information, such as social media. Stay alert to anyone requesting personal details unexpectedly.
What to Do if You Suspect Identity Theft
Act quickly:
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Contact a representative at Commercial Trust immediately so we can secure your accounts.
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Change passwords to any affected accounts.
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Review recent transactions for unauthorized activity.
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Report the incident to the Federal Trade Commission at IdentityTheft.gov for a recovery plan.
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Monitor your credit through a credit bureau or monitoring service.
We’re Here to Help
Identity theft can feel overwhelming—but you’re not alone. Commercial Trust is committed to keeping your information secure, and we’re always here to answer questions or help you take action if something doesn’t look right.
If you ever suspect fraud or need guidance, please reach out to us right away.