According to the Federal Trade Commission, more than nine million Americans are victims of identity theft each year. This type of theft occurs when someone steals your personal information to commit fraud or other crimes. As a result, you may be turned down for new credit and loans, lose out on job opportunities and even be arrested for crimes you did not commit.

This type of crime is on the rise, which makes it more important than ever to learn what you can about it. “Some experts attribute the overall rise in crime to the economic downtown,” says Kati Heitker, Personal Banker with Fifth Third Bank. “But thieves are also becoming more sophisticated with their use of technology, which allows them to target a larger number of people.”

Signs you may be a victim
It’s not uncommon for identity thieves to hack into computers, steal mail, dumpster dive and rob homes. Although many people don’t realize they’ve been victimized until weeks or even months later, you can learn to recognize the signs your identity may have been compromised. These signs include:

• Credit and debit cards purchases you didn’t make

• Missing monthly credit and debit card statements

• Receiving literature about housing or employment you never applied for

• Getting calls for overdue debts you didn’t incur

• Problems with your credit when applying for a loan, employment, school or housing when you’ve never even made a late payment

Steps to take
If you suspect your identity has been stolen, take the following steps:

• Review your credit report – You can obtain a free copy of your credit report at www.annualcreditreport.com. When reviewing your report, look for new accounts or unusual balances. Consider closing any accounts with suspicious activity.

• Place a fraud alert – A fraud alert will help prevent thieves from opening new accounts in your name. You can place a 90-day alert by contacting one of the three main credit reporting agencies: Experian^®, TransUnion^® or Equifax^®. After you’ve contacted one of these agencies, all three will place the alert. Although this will temporarily affect your ability to obtain instant credit, you can still apply for new accounts as long as you can verify your identity.

• File a complaint with the Federal Trade Commission (FTC) – You can file your complaint online at www.ftc.gov. Doing so will help federal law enforcement officials learn where identity theft is occurring so they can better track and prosecute thieves. Additionally, a printed copy of your complaint can be incorporated into the report you’ll need to file with your local police department.

• File a report with the local police department – Ask for an identity theft report. You will need this report to help dispute fraudulent accounts or debts you may incur as a victim of identity theft. It will also help you extend the fraud alert on your credit report for up to seven years, which is recommended since some thieves will begin opening new accounts in your name after your original 90-day fraud alert has expired. Whether you file your report online, over the phone or in person, make sure you bring a copy of your FTC complaint and any additional supporting documentation, such as credit card statements with fraudulent charges.

Fifth Third Bank offers Identity Alert to help you avoid becoming a victim of identity theft. Along with access to your credit report, you’ll receive 24-7 account monitoring, alerts and a personal caseworker should the worst happen. In addition, Fifth Third Bank financial professionals are available to answer your questions about identity theft. “We want to help you learn the best ways to help safeguard your personal information,” says Heitker.

To learn more about identity theft, contact Fifth Third at (866) 475-4201 or visit 53.com.