Deployed military service members can put an active duty alert on their credit reports to help minimize the risk of identity theft and credit card fraud while being deployed. An active duty alert on a credit report means businesses must take extra steps to verify your identity before granting credit in your name during your deployment.
As of May 24, 2019, the Fair Credit Reporting Act (FCRA) also requires credit reporting agencies (Equifax, Experian, TransUnion) to offer free credit monitoring to all National Guard, and Reservists on active duty, and active duty service members within the five services: Army, Marines, Navy, Air Force and Coast Guard. Credit monitoring provides alerts when there are changes to your credit report such as new accounts added. Find credit bureau contact information here.
What if I’m a military veteran who isn’t deployed or on active duty?
A 2017 Federal Trade Commission study revealed military veterans are more than twice as likely to have their identities stolen than are other American civilians. During 2018, military families reported over 59,000 fraud complaints related to identity theft. Credit card fraud and imposter scams topped the list. What can active duty, retired and transitioning military personnel do if they have been a victim of identity theft?
|Think it can’t
happen to you?
Here’s a recent report of fraud and identity theft complaints from military consumers.
Another major security breach was reported just last month. According to Quest Diagnostics, about 11.9 million Quest patients may have had their medical, financial and other personal information exposed.
The breached system contained sensitive data, including credit card numbers, bank account information, medical information and Social Security numbers.
Now’s a good time to sign up for IDShield, a recognized leader in identity theft detection and the only provider of full restoration using dedicated licensed private investigators. IDShield is available to USBA members and their families with discounts of as much as 48%.
This link provides a checklist of action steps to take if you’ve been a victim of fraud.
USBA members and their families are eligible to sign up for comprehensive IDShieldSM identity theft protection and receive a USBA member-only discount of 15% to 48%, based on selected plan. IDShield provides
identity theft protection and restoration services in partnership with Kroll, the world leader in risk mitigation and ID monitoring for the US Armed Forces, TSA and Homeland Security. IDShield not only monitors for identity theft, licensed investigators help you resolve related problems and restore your identity.
Why does USBA offer IDShield to its members?
While credit card fraud victims are not responsible for outstanding balances on any unauthorized account, you must dispute the claims and have them removed from your credit reports. This can be a long and complicated process. IDShield members who suspect identity theft activity are assigned a licensed private investigator who works to clear all fraudulent information and restore your identity to its pre-event status. It provides comprehensive monitoring and restoration services that are affordable.
Get identity theft protection.
USBA: More than just a military life insurance company
In addition to offering group life insurance, USBA is a not-for-profit association that provides affordable insurance and financial products and services such as IDShieldSM to military personnel, Federal employees, National Guard and Reserve members, Veterans and their families with the highest ethical standards of conduct and service.