The question many people ask is, how do I check the accounts open in my name?
Here are some actions you may take if you want to access all the accounts created under your name—bank accounts, loans, credit cards, utilities, etc.
Examining your credit report They comprise as follows: Get a credit report to find out which accounts are open under your name the easiest way. Once again in the United States, Experian, Equifax, and TransUnion, the three primary credit-reporting companies may provide you with a thorough credit report including all of your current and inactive accounts. This entails:
- It covers offerings from commercial banks including savings and checking accounts.
- debt include personal loans, house loans, auto loans, and school debts.
- Credit Cards.
- Accounts with corporations in the utility sectors like phone providers, cable television companies, power supply companies, etc.
From the three credit agencies, you should obtain a free credit report once every twelve months. Nonetheless, annualcreditreport.com is the only website approved to provide free credit reports; it will help you get this through. Since some of the creditors report with just one or two agencies, getting your report from all three bureaus guarantees you get a complete report.
Review the account statements. You should already know about accounts created under your name if you routinely review statements supplied by your financial institutions. These may consist of:
- accurate and thorough savings account and checking statement review
- Separation of all credit card-issued statements
- Loan reports stressing the unpaid debt.
- Mortgage statements showing the balance of the house loan.
- Using stock and/or money balances from brokerage accounts
- Update your retirement account.
Examining these financial records to the last details will enable you to find out about the accounts either presently or actively connected to your identity. You should report any accounts you come to find that you did not identify right away to your bank.
Check account details cross-reference with the many banking institutions
Open accounts may always, at any time, be confirmed straight with the bank or any known creditor, regardless of your regular habit of reviewing financial statements. Ask the customer care department for information on any account that is now in your name—a credit card, a loan account, an account, etc.
This could include:
- Bank accounts - Go for account numbers, current balances, and date when it was opened
- Loan details – Be aware of the type of loan, the loan amount, and the balance outstanding
- Credit cards – Check the number of cards owned by each patient, the credit limit, and the amount that each patient owes.
- Mortgages – know the original and outstanding principal for loans.
Make a list to ensure you have a clear picture of the number of opened credit accounts in your name, and with which companies. It also prevents compromised information from being used since if any accounts that are unfamiliar to you are found, this direct inquiry with validated sources indicates them.
It is recommended to check the records of the government agencies if any record held by them is available.
FTC and other federal government entities offer identity theft victims information on fictitious accounts or activities that are observed. Reach out to the FTC’s Identity Theft Data Clearinghouse and give an identity theft report in case you are suspicious of fraudulent activities due to unknown open accounts or records of activities done by you.
For example, you may visit the Social Security Administration website or call the Social Security Administration to check earnings history by SSN to see if there is any discrepancy that may indicate identity theft or financial fraud.
Check ChexSystems consumer database
ChexSystems is the company that keeps records on checking and savings accounts that have been reported by banks and credit unions. If such situations include bouncy checks, accounts closed due to your actions or inaction, and banking fraud or theft, then this is recorded by ChexSystems to be used by its member institutions.
Claim for your ChexSystems reports for the current year to understand which checking/savings accounts were opened or closed within the last five years. Compare this with your records if you suspect to find out if someone has opened a new bank account in your name.
Which accounts should be examined more frequently?
The credit report offers an annual update in comparison to monitoring it directly in institutions and financial statements offer a more often view.
Here are some key accounts you should review monthly for integrity:
- Checking accounts – Evaluate statements of checking accounts and provide details of suspicious transactions that may depict identity theft. In general, the frequency of these reviews depends on how intensively you work with your checking account(s).
- Savings accounts – Be sure to check the debit/credits made in the current month to determine the authenticity of the withdrawn/added money. However, do not overlook tampering though the savings accounts have comparatively less number of transactions.
- Credit cards – This means that one should review the statements of all credit card accounts and determine if there are any unauthorized purchases such as fraudulent charges or cash advances made through the stolen PII.
- Loan statements – Account review is more critical for the kind of loans we take periodically with balances like auto/home loans. Check that you have been properly debited the monthly payment you have been making to the service provider.
- Retirement Accounts – Monitor retirement savings plans to check for fraudulent distributions, which most people find out after the fact several years later.
Preventing identity theft is a major question that people ask themselves. It is particularly dangerous to one’s financial standing as by merely stealing the identity, the culprit can open accounts for embezzlement or borrowing money.
Here are some key precautions you must take:
- Guard your information – When it comes to your SSN, account numbers, and other sensitive information, ensure that they are shielded.
- Torn/recycled identity documents – Paper documents containing personal identification information should be torn or recycled.
- Personal protection equipment like firewalls and anti-virus software – Protect yourself against malicious software that tries to obtain your information on the internet.
- Public Wi-Fi – Be wise – Do not use applications that require your financial information and avoid sharing data on unsecured public wireless connections.
- Monitor alerts –Most institutions today provide facilities for users to set alerts for specific account activities through phone calls, text, or email. Utilize these facilities from zero or little-cost facilities as shown in the following.
- Enhance the security of multi-factor – Ensure that there is a series of checks that have to be completed before accessing an application to minimize hacking cases.
- Mealbilling cycles – Ensure to go through bills during the first days of the billing cycle before it is masked by subsequent transactions. This brings out into the open activities that may otherwise not have been noticed by the management.
- Check credit reports – As you may know, it is a wise practice to check the credit report at least 3 times a year to detect accounts that were opened without your consent much earlier than when troubles begin to escalate.
Bottom line
To avoid cases of identity theft, one should be very careful. To prevent identity theft and other fraudulent activities, it is crucial to check your credit report at least once a year, review your statements and loans, or contact the institution directly to prevent criminals from accessing your money before the situation worsens. In the same token, be cautious of accounts you never opened or transactions you never conducted – and notify whenever observed. It also prevents the thieves from exploiting your personal information in any unlawful manner since you have been proactive in protecting it.
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