Identity Theft and Fraud

What is identity theft and fraud?

Various pieces of personal information make up your identity — for example, your name, address, Social Security number, etc. Identity theft is when someone uses your personal or financial information without your knowledge. Thieves usually acquire your information through theft or fraud.

To gain a better understanding of this situation, review the most recent statistics on the prevalence of identity theft.

Most recent statistics:

• 3.6 million U.S. households affected¹
• $3.2 billion in losses for individuals²
• #1 complaint filed with Federal Trade Commission³
• $52 billion in losses for businesses⁴

How does identity theft and fraud occur?

Commonly, someone fraudulently represents a legitimate company—either in person, online or on the phone—and tricks you into divulging your personal information. A common method is "phishing," (pronounced "fishing") the act of sending an e-mail that fraudulently represents a legitimate company and "lures" you (hence, the phishing name) into divulging personal and financial information that could then be used for identity theft.

Review the various methods of fraud so you can avoid them.

More facts from third-party resources

Merrill Lynch is not affiliated with these third-party resources, and if you click on any of the below links, you will leave www.ml.com and be taken to another site.

Federal Trade Commission

www.consumer.gov/idtheft

U.S. Department of Justice

www.usdoj.gov/criminal/fraud/idtheft.html

OnGuardOnline.gov

http://onguardonline.gov/phishing.html

Click here for more third party resources on identity theft & fraud.