Exposing Identity Theft: Protecting Yourself from Fraudulent Loans

Identity theft is a serious crime that can have devastating effects on individuals and their finances. Detecting and preventing identity theft requires vigilance and knowledge of new tactics employed by criminals. In Orange, Ohio, a 78-year-old resident fell victim to identity theft when an unknown person opened a small business in his name to receive a federal economic injury disaster loan (EIDL) without his knowledge or approval. This article aims to raise awareness about identity theft and provide practical tips to protect oneself from becoming a victim.

The Story Unfolds

The 78-year-old resident first became aware of the identity theft when he received an “approval notice” from the US Small Business Administration in 2020. Immediately, he notified the agency about the scam. However, to his surprise, he recently received another letter from the SBA demanding payments of $49 a month for the fraudulent loan. Realizing the severity of the situation, he needed a police report to continue correcting the problem with the SBA.

Falling into the Trap

Identity thieves are becoming increasingly sophisticated in their tactics. They exploit vulnerabilities in various systems and exploit unsuspecting individuals for their personal gain. In this case, the victim’s personal information was likely obtained through a data breach or phishing scam. Armed with the necessary information, the thief opened a small business in the victim’s name to fraudulently obtain a loan.

It is important to note that this type of identity theft can happen to anyone, regardless of age or financial status. The elderly are often targeted due to their vulnerability and limited knowledge of emerging scams. However, with the right knowledge and precautions, individuals can protect themselves from falling into these traps.

Protecting Yourself from Identity Theft

Preventing identity theft requires a proactive approach. By implementing the following measures, individuals can minimize the risk of becoming a victim:

1. Monitor your credit reports regularly: Check your credit reports from major credit bureaus at least once a year. Look for any suspicious activities or accounts that you didn’t open.
2. Secure your personal information: Safeguard your Social Security number, bank account details, and other personal information. Avoid sharing sensitive information online or over the phone, especially with unknown individuals or organizations.
3. Be cautious with email and phone communications: Be wary of phishing attempts, where scammers pose as legitimate organizations to trick you into disclosing personal information. If you receive an email or call asking for sensitive information, verify the sender’s or caller’s identity independently before responding.
4. Use strong and unique passwords: Create complex passwords that include a mix of letters, numbers, and symbols. Avoid using easily guessable passwords, such as your name or birthdate. Additionally, enable two-factor authentication whenever possible.
5. Regularly update software and use antivirus programs: Keep your devices and software up to date with the latest security patches. Install a reputable antivirus program to protect against malware and other cyber threats.
6. Shred sensitive documents: Dispose of financial statements, credit card bills, and other sensitive documents by shredding them. This prevents criminals from accessing your personal information through dumpster diving.
7. Use secure Wi-Fi networks: When accessing the internet in public places, use secure Wi-Fi networks or a virtual private network (VPN) to encrypt your connection.
8. Be cautious of social media sharing: Avoid sharing personal information, such as your address or phone number, publicly on social media platforms. This information can be used by criminals to target you for identity theft.

Dealing with Identity Theft: Reporting and Recovery

If you suspect you have fallen victim to identity theft, it is crucial to take immediate action to minimize the damage and begin the recovery process. Follow these steps:

1. File a police report: Report the identity theft to your local law enforcement agency. Provide them with all relevant information and supporting evidence, such as fraudulent emails or documents.
2. Place a fraud alert: Contact one of the major credit bureaus (Equifax, Experian, or TransUnion) and request a fraud alert be placed on your credit reports. This will notify creditors to verify your identity before extending credit in your name.
3. Close compromised accounts: Contact your bank, credit card companies, and other financial institutions to report the identity theft. Close any compromised accounts and open new ones with enhanced security measures.
4. Monitor your accounts: Regularly review your financial statements and credit reports for any unauthorized transactions or accounts. Report any suspicious activities to the respective institutions immediately.
5. Restore your identity: Work with the relevant authorities, such as the Federal Trade Commission (FTC), to restore your identity and clear any fraudulent activities associated with your name.

Conclusion

Identity theft is a growing concern in today’s digital age, but with awareness and proactive steps, individuals can protect themselves from falling victim to this crime. By monitoring personal information, securing online interactions, and taking immediate action if identity theft is suspected, individuals can safeguard their financial well-being. Remember, prevention is the best defense against identity theft.

ORANGE, Ohio

Identity Theft: White Oak Trail

A 78-year-old resident reported on June 6 that an unknown person opened a small business in his name to receive a federal economic injury disaster loan (EIDL), without your knowledge or approval. After receiving an “approval notice” from the US Small Business Administration in 2020, she said he immediately notified the agency about the scam.

But more recently, he received another letter from the SBA demanding payments of $49 a month for the fraudulent loan. Later, he needed a police report to continue correcting the problem with the SBA.

Robbery: Orange Square

Police were called to the Courtyard of Marriott at 10:20 a.m. on June 10, where management explained that the night before, a guest left his wallet on a high-top bistro table in the lobby.

When he retrieved it, the 81-year-old Pennsylvania man noticed $202 in cash and his Capital One credit card were missing. The manager reviewed security video and discovered that two other guests, an 18-year-old Cleveland man and a 25-year-old woman, they had taken her wallet, searched it, placed money in her backpack, and then returned it to the bartender.

The manager further noted that the suspects were now sitting outside on the patio, where they were questioned by police and the suspect claimed that he had only taken $20, which he had already spent on breakfast.

But the money in the suspect’s backpack included the same denominations described in detail by the victim, whose credit card had not yet been recovered. After reviewing security footage, both were charged with misdemeanor robbery.

Impaired Driving, Reckless Operation, Failure to Control, Divided Highway Violation, Auto Towing: I-271 North

An officer patrolling the lanes of the northbound local freeway at 2:40 am on June 9 reported that a 2019 Kia Sorento suddenly veered from the express lanes over the rutted median into the local lanes.

This forced the officer to slow from 60 mph to 25 mph to avoid a collision, at which point the Sorento skidded off the left side of the road and continued along the grass median for another 100 yards before coming to a stop. .

Police said the driver, a 57-year-old Hartville woman, showed signs of extreme impairment, including taking 35 seconds to get her keys out of the ignition and longer to get a driver’s license.

She was taken to Solon jail, where she refused a breathalyzer.

Driving under suspension, confiscation of license, improper display of license plates, warrant served: I-271

A patrol officer running radar near the freeway’s Harvard Road off-ramp at 10:26 a.m. June 8 noticed a northbound Cadillac with no visible license plate, at least until he approached 6-10 feet to see through tinted windows.

The driver, a 31-year-old Mayfield Heights man, continued to the Chagrin Boulevard exit, stopped at the Shell True North lot, and explained that he did not have a license, knew the car was going to be towed, and did not want to leave it running. the roadside

Police also found at least one misdemeanor warrant for his arrest in Kent, where the officers agreed to take custody.

Order Delivered: Lander Road

Bainbridge police notified Orange late on June 7 that they had a 59-year-old Maple Heights man in custody with a warrant from Orange stating that he had tested positive in toxicology lab results for “metabolites of cocaine”. He was transferred custody and was taken to Solon Jail.

General Support, Threats: Pike Drive

A 38-year-old resident went to the police station on June 5 to report that several days earlier he had received strange text messages from his ex-wife’s boyfriend, a 37-year-old Shaker Heights man, challenging him to a fight. boxing and added that he would “tie” him if he did. confronted. The resident only wanted documentation of those messages.

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