Identity Theft Awareness Month

Identity Theft Awareness and Prevention: Protecting Your Identity with B-M S FCU

Identity theft is a growing concern in today's digital age, affecting millions of individuals each year. According to the Federal Trade Commission (FTC), there were 1.4 million reported cases of identity theft in 2024 alone[1]. This alarming statistic highlights the importance of being aware of identity theft and taking proactive measures to protect your personal information.

Understanding Identity Theft

Identity theft occurs when someone uses your personal or financial information without your permission. This can include your name, Social Security number, credit card number, or other identifying information. The consequences of identity theft can be severe, ranging from financial loss to damage to your credit score and reputation.

Recent Statistics on Identity Theft

Over the past two years, identity theft has continued to rise. In 2023, the FTC received 5.7 million reports of fraud and identity theft, with identity theft accounting for 25% of these cases[2]. Credit card fraud was the most common type of identity theft, with 416,582 reported cases in 2023[1]. 

How to Prevent Identity Theft

Preventing identity theft requires vigilance and proactive measures. Here are some essential steps to protect yourself:

1. Shred Sensitive Documents: Always shred documents that contain personal information before disposing of them. This includes bank statements, bills, and any paperwork with your Social Security number.
2. Secure Your Personal Information: Keep important documents, such as birth certificates and Social Security cards, in a safe place. Avoid carrying them in your wallet.
3. Use Strong Passwords: Create strong, unique passwords for your online accounts. Avoid using easily guessable information, such as birthdays or common words.
4. Monitor Your Accounts: Regularly review your bank and credit card statements for any unauthorized transactions. Set up alerts to notify you of suspicious activity.
5. Be Cautious Online: Avoid sharing personal information on social media and be wary of phishing emails or messages that ask for your personal details.
6. Use Identity Theft Protection Services: Consider enrolling in an identity theft protection service that monitors your credit and alerts you to potential threats.

B-M S FCU's Commitment to Protecting Members' Identities

B-M S Federal Credit Union (FCU) is dedicated to helping its members protect their identities. The credit union offers several tools and services designed to safeguard personal information and prevent identity theft.

1. Enhanced Security Features: B-M S FCU has implemented robust security measures for online and mobile banking. This includes multi-factor authentication, which requires members to verify their identity using multiple methods before accessing their accounts[3].
2. Credit Monitoring: Members can access their credit scores and reports through B-M S FCU's online banking platform. This allows members to monitor their credit for any unusual activity and take action if necessary[3].

By staying informed and taking proactive steps, you can significantly reduce the risk of identity theft. B-M S FCU is committed to supporting its members in this effort, providing the tools and resources needed to protect their personal information and maintain financial security.

To learn more about Identity Theft check out: https://consumer.ftc.gov/features/identity-theft-awareness-week 

References

[1] U.S. identity theft statistics 2025 - ConsumerAffairs

[2] 2025 Identity Theft Facts and Statistics

[3] B-M S Federal Credit Union - bmsfcu.org