1. Home
  2. What Happened When My Identity Was Stolen
  • Sign up
  • Sign in
Money Talks News
  • Popular
  • Latest
    • Coronavirus
    • Ask Stacy
    • Make
    • Save
    • Borrow
    • Grow
    • Live
    • More
  • Deals
    • Automotive
    • Clothing & Accessories
    • Computers
    • Electronics
    • Everything Else
    • Financial Services
    • Gaming & Toys
    • Health & Beauty
    • Home & Garden
    • Movies, Music & Books
    • Office & Supplies
    • Special Occasion
    • Sports & Fitness
    • Store Events
    • Travel & Entertainment
  • Podcasts
  • Solutions
  • Academy
Not Asking About This in the Hospital Can Cost You Thousands
13 Smart Tricks to Organize Every Room of Your Home
11 ‘Disposable’ Items You Should Be Reusing
3 Ways to Get Paid for Searching the Web

What Happened When My Identity Was Stolen

Somebody in China stole my debit card number and ripped me off for $474.01. I got my money back – and I have tips to help you keep yours.

Brandon Ballenger • March 26, 2012

           
Photo (cc) by B Rosen

Several weeks ago, I became a victim of identity fraud. Luckily, it wasn’t a big deal.

Of course, I didn’t think that at the time. I had logged into my bank account and saw a pending charge on my debit card for $470.25. It was from a website I’d never heard of – DHGate.com. As near as I can tell, it’s a Chinese version of eBay. The platform is legitimate. But obviously, not all of its users are.

There was also a $3.76 fee labeled as an “international service charge.”

I drove straight to the bank (thankfully only a few blocks away) and explained the situation: I’ve never heard of this company, I’ve never bought anything from this company, I’ve had my debit card with me at all times, and I haven’t noticed any suspicious activity – until now.

The bank rep listened politely and asked me a few questions: Are you sure you didn’t misplace your debit card even temporarily? Can you verify some of your other transactions to make sure they’re correct?

Then she told me I couldn’t dispute these charges unless they actually went through – this one was still “pending” as of that moment. She tapped at her computer and said she’d note all of this on my account. She assured me that this charge would probably never go through, but if it did, I should come back.

She was wrong, and a day later, I was back. I had to fill out a simple one-page dispute form, swearing I didn’t make a purchase. Then the woman shredded my debit card and issued me a new one on the spot. The same day, I got a “provisional credit” for the amount I was disputing, at least while they investigated. A few weeks later, I received a letter concluding that it was indeed a “fraudulent charge” and I didn’t owe a thing.

Anticlimactic, I know – although I still have no idea how somebody in China got my debit card number. But many people aren’t so lucky. Their stories are dramatic and even tragic.

Trends in identity theft

According to Javelin Research’s 2012 Identity Fraud Report, 11.6 million Americans lost $18 billion to identity theft last year, and “the growth in the fraud rate is being primarily generated by the increased incidence of existing card account fraud and not new account fraud.”

This can be taken as good news, though. It sounds like new account fraud is getting harder to pull off, and existing account fraud is easier to catch. The shift from new account fraud to existing account fraud is one of the key contributors to recent improvements in fraud resolution. That’s because existing account fraud – specifically, existing card fraud – is generally much simpler to resolve, both in time and cost.

This has happened at the same time the cost of fraud has dropped, according to the survey. While the total amount of fraud was up 12.6 percent in 2011 compared to 2010, the total cost was down $2 billion. Even better news: 91 percent of fraud cases were resolved last year, while only 82 percent were back in 2008.

This certainly doesn’t mean the problem is going away. Data breaches (like the one that happened when the PlayStation Network was hacked last year) were up 67 percent in 2011, and the report concludes that victims of those breaches are nearly 10 times more likely to become fraud victims.

The report found only “54 percent of victims were notified they had been a victim of identity theft by their financial institution, law enforcement, etc.” Many people are left to discover the crime on their own – like I did.

And people with smartphones and those who use social media are more at risk by exposing their personal information and installing a variety of apps. No matter how careful you are, it’s hard to account for what other people do, as a waitress caught skimming customer credit cards shows.

[adbar]

Protecting yourself

While nobody can cover all their bases, that’s no reason to give criminals an easy home run. Some simple steps to guard your data and finances…

  1. Police your accounts. Keep an eye on your bank balances. You don’t need expensive protection software. Just log in and check regularly – that’s how I spotted the fraud on my account. Crooks are like cancer: Early detection lessens the damage. Change your passwords every so often, don’t reuse the same one across important accounts, and make sure they’re strong.
  2. Use protected Wi-Fi. When you use a wireless connection, your data – possibly including logins you type into websites – is literally floating around in the air, and thieves know how to eavesdrop on your computer or smartphone. When you have access to a secure network (one with a lock icon, meaning it requires a passcode) choose those over public ones. Learn how to secure your network at home too.
  3. Use secure browsing. If you’re not on a secure network (which encrypts everything you do), only access or share personal information on secure sites (which at least encrypt what you do there). You can tell if a site is secure if the Web address starts with “https” instead of “http.” But make sure every page of the site has it – some sites only secure the login. You can learn more at OnGuardOnline.gov. Social networks like Facebook and Twitter offer secured versions, but you may have to enable them yourself. (Check the links for instructions.)
  4. Update regularly. Hackers hunt for security loopholes. Software updates plug them. It’s a constant war between good and evil, so maintain the latest version of your programs and apps, and be cautious when trying anything new – especially if it’s obscure, unexpectedly free, or doesn’t have any positive user reviews.

We’ve got plenty more advice in other identity theft stories we’ve done. Check out these:

  • Free Identity Theft Protection with These 10 Tips
  • 3 Tips to Prevent Identity Theft on Social Networks
  • 4 Ways to Protect Against Old-School Identity Theft
  • 6 Steps to Prevent Identity Theft of the Dead
  • 7 Ways to Prevent Identity Theft and 7 Steps to Recover

Disclosure: The information you read here is always objective. However, we sometimes receive compensation when you click links within our stories.

Read Next
The 3 Biggest Regrets of Retirees — and How to Avoid Them
The 3 Biggest Regrets of Retirees — and How to Avoid Them

Rescuing a retirement from regret starts with these steps well before it’s time to quit working.

16 Products That Coffee Drinkers Will Love
16 Products That Coffee Drinkers Will Love

We’ve brewed up a list of amazing Amazon products that are sure to perk you up.

10 U.S. Jobs That Are Disappearing Fastest
10 U.S. Jobs That Are Disappearing Fastest

Think twice before pursuing these shrinking occupations.

12 Ways to Never Pay Full Price for Anything
12 Ways to Never Pay Full Price for Anything

Stop paying retail prices. Here are plenty of ways around that.

5 Simple Steps to an Awesome Retirement
5 Simple Steps to an Awesome Retirement

The path to your dream retirement begins with these five steps. How many have you already taken?

Sign up for our free newsletter!

Join our many free newsletter subscribers building wealth and destroying debt:

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

View this page without ads

Help us produce more money-saving articles and videos by subscribing to a membership.

Get Started

Most Popular
10 Things Frugal People Never Buy
10 Things Frugal People Never Buy

If you’re a true tightwad, the mere thought of spending money on these items gives you the willies.

10 Useless Purchases You Need to Stop Making
10 Useless Purchases You Need to Stop Making

You might as well flush your money down the loo if you spend it on these things.

The 16 Cars Most Likely to Last 200,000 Miles
The 16 Cars Most Likely to Last 200,000 Miles

One automaker takes half the spots on a list of the longest-lasting vehicles.

7 Social Security Rules Everyone Should Know by Now
7 Social Security Rules Everyone Should Know by Now

Confusion over Social Security is a shame, considering how many of us will need this money badly.

9 Shopping Mistakes to Avoid at Costco
9 Shopping Mistakes to Avoid at Costco

Are you missing out on serious savings at your favorite warehouse club?

If You Find This Thrift Shopping, Buy It
If You Find This Thrift Shopping, Buy It

They don’t make coffee makers like this anymore.

11 Products Now in Short Supply Due to the Pandemic
11 Products Now in Short Supply Due to the Pandemic

Many goods we take for granted have become tough to find in 2021.

7 Kirkland Signature Items to Avoid at Costco
7 Kirkland Signature Items to Avoid at Costco

Even if it seems you save a bundle buying Costco’s Kirkland Signature brand products, they may not be the bargain they appear to be.

14 Things You Should Stop Buying in 2021
14 Things You Should Stop Buying in 2021

These convenient household products come with hidden costs that you might not have considered.

3 Ways to Get Microsoft Office for Free
3 Ways to Get Microsoft Office for Free

With a little ingenuity, you can cut Office costs to zero.

Is Writing a Check Still Safe?
Is Writing a Check Still Safe?

Every time you pay by check, you hand your bank account numbers to a stranger.

6 Ways to Protect Your Retirement Accounts From Hackers
6 Ways to Protect Your Retirement Accounts From Hackers

Imagine having $245,000 stolen from your retirement account — and not being reimbursed.

8 Things You Should Replace to Improve Your Life Today
8 Things You Should Replace to Improve Your Life Today

Being frugal isn’t smart if you put off replacing these items.

This Is the Most Dependable Car Brand in the U.S.
This Is the Most Dependable Car Brand in the U.S.

This brand’s vehicles are least likely to give drivers repair headaches, according to J.D. Power.

13 Amazon Purchases We Are Loving Right Now
13 Amazon Purchases We Are Loving Right Now

These practical products make everyday life a little easier.

7 Hidden Sections of Amazon Every Shopper Should Know
7 Hidden Sections of Amazon Every Shopper Should Know

These little-known departments of Amazon are gold mines for deal-seekers and impulse shoppers alike.

7 Income Tax Breaks That Retirees Often Overlook
7 Income Tax Breaks That Retirees Often Overlook

Did you realize all these tax credits and deductions exist — or that they apply to retirees?

7 Social Security Benefits You May Be Overlooking
7 Social Security Benefits You May Be Overlooking

There’s more to Social Security than retirement benefits.

The 6 Best Investing Apps for Beginners
The 6 Best Investing Apps for Beginners

If you’re looking to ease into investing in the coronavirus economy with just a little money, check out these easy-to-use tools.

View More Articles

Sign up for our free newsletter!

Join our many free newsletter subscribers building wealth and destroying debt:

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

View this page without ads

Help us produce more money-saving articles and videos by subscribing to a membership.

Get Started

Add a Comment

Our Policy: We welcome relevant and respectful comments in order to foster healthy and informative discussions. All other comments may be removed. Comments with links are automatically held for moderation.

Sign up for our free newsletter!

Simple ways to make, save, and grow your money daily:

  happy subscribers    

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Podcasts

Every week our podcasts bring you lively money discussions that will give you a few laughs along with advice that will make you richer.

Money with Stacy Johnson

Listen/Subscribe

Must Read

A few of the best stories from our Emmy Award winning editorial team.

How Baby Boomers Are Earning an Extra $573 a Month
How Baby Boomers Are Earning an Extra $573 a Month
These 13 States Tax Social Security Income
These 13 States Tax Social Security Income
20 Generic Brands That Amazon Created
20 Generic Brands That Amazon Created
7 Social Security Blunders That Can Ruin Your Retirement
7 Social Security Blunders That Can Ruin Your Retirement
MTN Solutions Center

A curated selection of helpful products and services we recommend for our readers.

Find help with:
Making Extra Money Credit Card Debt Tax Debt Student Loan Debt Credit Restoration Debt Collectors Social Security
Find the best:
Financial Adviser Credit Card Budget Personal Loan Mortgage Purchase Mortgage Refinance Savings & CDs HELOC Cell Phone Plan Travel Deals
Sign up for our free newsletter!

Join our many free newsletter subscribers building wealth and destroying debt:

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Popular Topics
  • Retirement Investment
  • Surveys for Money
  • How to Make Money Online
  • Emergency Stockpile
  • Free Movie Streaming
  • Senior Discounts
Connect
  • Memberships
  • About
  • Contact
  • Careers
Media
  • Advertise
  • Television
  • Where We Air
  • Scripts
  • Sitemap
Legal
  • Terms
  • Privacy
  • Cookies
Editorial
  • Fact-Checking Policy
  • Ethics Policy
  • Corrections Policy
  • Ownership & Funding Info

Do Not Sell My Personal Information

© 2021 Money Talks News. All Rights Reserved.
‭1 (833) 669-8557 | 1732 1st Ave #26661, New York, NY 10128

Advertising Disclosure: This site may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website.

View This Page Without Ads

Help us produce more money-saving articles and videos by subscribing to a membership.

Get Started

Help us produce more money-saving articles and videos by subscribing to a membership.

Sign up for our free newsletter!

Join our happy subscribers and sign up for our free newsletter! You'll get:

  • Tips and advice from our expert money reporters. (Our average experience is 18 years!)
  • Unexpected ways to make more and spend less, delivered to you daily.
  • The best deals and coupons to save on everything you buy.
  • A free copy of our eBook '208 Ways to Save Money Every Day' and our video consumer finance course 'Life or Debt', together a $49 value!

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.