EDISON BLOG

Category: ID Theft

Tax Identity Theft Awareness Week



Did you know, tax identity theft is the most common form of identity theft reported to the Federal Trade Commission (FTC)? The issue has become so prevalent in recent years, the FTC has designated January 29- February 2, 2018, as Tax Identity Theft Awareness Week.
 
What is tax identity theft?

Tax identity theft occurs when someone files a tax return using your information, such as your Social Security number, in hopes of stealing your tax refund. Should you become a victim of tax identity theft, you will find out about it when you receive a letter from the IRS stating: IRS records show wages from an employer you do not know or work for, or more than one return has been filed in your name.
 
Protect Your Identity

Do not fall victim to tax identity theft by following these tips:
  • File as soon as possible
Once you have received all the necessary paperwork, file right away. In doing so, a thief cannot file a return in your name if you have already filed a legitimate return.
 
  • File safely and securely
Use a trusted service when filing your taxes, whether it is online or in person.
 
  • Protect your Social Security Number or Medicare number
Do not give out your personal information unless you must. Be sure to ask why it is needed, how it will be used, and where and how it will be stored.
 
 
What to do if your Social Security Number has been stolen

When someone has filed a tax return using your Social Security number, you should receive a letter from the IRS. If you don’t receive a letter and still suspect a fraudulent return has been filed with your personal information, there are steps you can take: Visit the identitytheft.gov  website, to report identity theft to the FTC and get a recovery plan.
Miami, Fort Lauderdale, and West Palm Beach are some of the top metro areas for identity theft complaints in Florida. Make sure you are protected.
 
You may also consider obtaining Identity Theft protection from Edison Insurance Company.  Talk to your agent about adding an identity theft endorsement to your policy for as little as $25 a year.  Edison’s endorsement will reimburse you for up to $25,000 for expenses incurred to restore your credit, as well as, provide you with “resolution services” from a consumer fraud specialist who will assist you in the process of restoring your identity and your credit to the level it was prior to the breach.
 

Keeping your family and home safe and protected is Edison Home Insurance Company’s number one priority. We have taken a bright and innovative approach to FL homeowners insurance with coverage options allowing you to customize a policy to best fit your needs. To learn more about Edison Insurance Company, or to get a personalized quote, call us at (866) 568-8922.

Common Forms of Identity Theft



Many people fail to realize identity theft comes in various forms. You’ll be surprised to learn how easily your personal information can be accessed by hackers, and in how many different ways. There are steps to protect yourself from falling victim to identity theft, but first, you should know the common types of theft or fraud.
 
Insurance Identity Theft
 
This type of fraud occurs, for example, when someone uses another person’s information to receive medical treatment. It can have a serious impact and leave victims with higher insurance premiums and huge medical bills.
 
Child Identity Theft
 
This type of identity theft occurs when a child is the victim of the crime. Criminals will use a child’s social security number to access loans or even open accounts to commit fraud. It is important to protect your children identities, using the same measures you would to protect your own personal information. Falling victim to identity theft at such a young age could follow them through their entire lives, and affect them when they go off to college and apply for student loans or a car.
 
 
Tax Identity Theft
 
Tax ID theft is formed through fraudulent tax refund claims. Criminals send claims to the IRS using stolen information such as social security numbers and names. If you fall victim to this crime, it can significantly delay your ability to access legitimate tax refunds. You can protect yourself by practicing safe internet habits and avoiding opening and responding to strange emails about your personal information. Be very cautious when giving out your social security number over the phone and make sure the numbers you are calling (or calling you) are legitimate.
 
 
Synthetic Identity Theft
 
This is one of the most sophisticated kinds of identity fraud, in which criminals use a social security number in combination with fake information such as names and addresses, resulting in the creation of a completely new identity.
 
 
Criminal Identity Theft
 
This is a very common form of ID theft in America, where an individual commits a crime under someone else’s name. During the process of being arrested, the criminal will at times use a fraudulent ID with your name and other details, in order to keep a clean record for themselves. There are identity monitoring services you could use from reputable identity protection agencies to protect yourself, along with practicing safe habits online and even around ATM’s and public spaces.
 


Keeping your family and home safe and protected is Edison Home Insurance Company’s number one priority. We have taken a bright and innovative approach to FL homeowners insurance with coverage options allowing you to customize a policy to best fit your needs. To learn more about Edison Insurance Company, or to get a personalized quote, call us at (866) 568-8922.