Theft of identity and the establishment of bank accounts in your name can result from losing your wallet. That can result in years of battling false creditors and claims, building up bad credit. Jessica Roy, an assistant editor on the utility journalism team at the Los Angeles Times, experienced this.
In 2018, she claims that her wallet was stolen from her purse at a pub, but she didn't pay it much attention.
I actually didn't keep that much in there. My driver's license, some cash, and a few credit cards were all there. The following day, I discovered they had completed a few transactions. I changed the cards and got those backward. I initially believed it to be the conclusion, Roy stated.
But in the middle of January 2019, she began receiving a tonne of letters. “It was like, ‘Congratulations on your new Bank of America account. Congratulations on your new Wells Fargo account. We're following up on your Target card inquiry.’ And I realized they were using my identity to start opening new accounts.”
Roy speculates that the hackers might have secured her social security information through the dark web. According to her reporting, that is typical. Many people dismiss the frequent data breaches and online intrusions that result in the theft of personal information like passwords or social security numbers.
Roy claims that nobody is secure. She discussed the 2017 Equifax hack, which affected 147 million Americans, in her blog. That comes from a credit bureau and is private information. Our every financial move is being tracked by the credit bureaus, who aren't even protecting our data, which is why we need to keep our identity so secure.
She always believed that because she was a reporter and was being thorough, she would be able to thwart false claims and transactions.
I never imagined that I would experience this. And when it happened, I said to myself, "You know what, I'm going to start doing something." I'll be in control of this. I'm going to call the banks and demand that they put things right. And that will be the conclusion of it. And they're going to take care of it and shut these accounts in a really friendly manner. And everything will be a closed book. But it persisted.
In Roy's instance, some arrests eventually took place, which she claims is unusual. “It wasn't because ‘oh, the police dug into my crime and worked night and day to solve this.’ It's because [the suspects] were pulled over and arrested for something else. And incidentally, they happened to have a bunch of my identity material in the car with them.”
Roy claims that despite their repeated attempts, the criminals were unable to access her bank and email accounts because they were secured. Things like two-factor authentication stopped future problems from getting worse.
“They called me impersonating my bank and asked me to repeat my password as if it were a security question. And I realized I was like, ‘Oh my God, this is them. They're calling me on Christmas to try and steal my identity some more,” she further added. I really think the conclusion that I came to in experiencing this and reporting this story is that yes, there are steps you can take. Nothing is foolproof, and this is a systemic issue that has to be addressed.”
Roy advises users to proactively freeze their credit cards and set up two-factor authentication for each account, including email and bank accounts, to lessen the risk of identity theft.
