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Account Takeover

 Account Takeover

Account takeover is a type of identity theft that occurs when a fraudster obtains someone’s personal information (e.g., account number and Social Security Number) and changes the official mailing address for the victim’s bank account. Once the account address is changed, transactions are completed without the victim knowing.
 
Common account takeover signs include the following:
 
  • You don’t receive your bank statement
  • You receive a notice from the bank about an unknown change
  • Checks have signatures that are not yours
  • You notice withdrawals, bank transfers or deposits you cannot account for
  • You receive merchant notification about a bounced check you did not write
  • A merchant declines your check, but you have not bounced any checks
  • You receive a letter from a check verification company or a district attorney about a problem