Your Social Security number can be a very powerful tool for fraudsters, especially if they also get their hands on other personal information that can be used together to open fraudulent accounts in your name. This can lead to delinquent accounts showing up on your credit reports and affecting your credit scores. That's why keeping your Social Security card in your wallet is so risky. Instead, store it in a safe place and shred any documents containing your SSN before throwing them away.

When periodically checking your credit reports, check your identifying information closely. Variations of your Social Security number will be listed. Names, addresses or other identifying information you don't recognize could be signs of fraud. Those who've been victimized can report it to the Social Security Administration and also notify their state's tax office.

Senior Identity Theft and Scams
Senior Identity Theft fraud can take many forms, and elderly citizens are particularly vulnerable to cybercriminals. This includes tech scammers who call asking for passwords and personal information. Many will say they're from the IRS or Medicare office to gain trust; others even pose as grandchildren who are in trouble and need money. The Federal Trade Commission reports that older consumers who experience fraud typically incur greater financial losses than younger folks. Warning the seniors in your life about these scams can help prevent them from being victimized.

Child Identity Theft
Many child identity theft cases are perpetrated by someone within the family. Ill-intentioned family members can use Social Security numbers, birthdays, addresses and more to open fraudulent accounts. They may also apply for government benefits, take out loans or find other ways to rack up debt in the child's name. This can come back to haunt the victim when they're old enough to apply for legitimate credit on their own, only to find delinquent accounts and unpaid balances. If your child has a credit report, freezing it can prevent further fraud while protecting them from future attacks.

Tax Identity Theft
This type of identity fraud happens when someone uses your personal information, including your Social Security number, to file a tax return in your name and collect a refund. Tax identity theft is usually identified when the victim goes to file their tax return and finds that one has already been processed for them.

Beware of any communication from someone posing as an IRS official requesting private information. The IRS will never contact you in person or by phone or email without first sending notice through the mail. If you've been the victim of tax identity theft, you'll want to fill out an Identity Theft Affidavit with the IRS.

Biometric ID Theft
Biometric ID theft is a very real form of fraud that involves stealing or spoofing a person's physical or behavior characteristics to unlock a device—think facial or voice recognition to unlock your phone, or to tap into your other devices. Biometric ID theft can be a goldmine for hackers, who can gain access to digital wallets and loads of private information. To protect yourself from this type of identity theft, update your devices as recommended. Also be sure your biometric data is being stored securely and safely by a company that requests it. If it isn't, opt out.

Synthetic Identity Theft
Synthetic ID fraud is the fastest-growing kind of financial crime in the U.S., according to consulting firm McKinsey Company. It's a sophisticated operation that draws on a mix of real personal consumer data, such as Social Security numbers, addresses and birthdays, from a variety of people. This information is blended together to create new fictitious identities that are designed to look like real consumers with good credit.

From there, criminals can open new accounts, apply for credit, receive auto loans and commit other types of financial crimes. If you start to receive mail or phone calls asking about new credit accounts, or you get mail addressed to a different name, these could be signs of synthetic ID theft.

Medical Identity Theft
This kind of identity theft happens when someone poses as another person in order to receive medical services. There are many ways your medical data could fall into the wrong hands. The medical/health care sector had the second-highest number of data breaches in 2019, according to the Identity Theft Research Center.

No matter how it happens, medical identity theft could result in bills for medical services, prescriptions or goods you never requested or received. Making a habit of reviewing your medical claims can help you spot fraud and take steps to remedy it. This involves filing a police report and contacting your insurer and medical providers to correct your medical files. You can also consider filing a health privacy complaint with the U.S. Department of Health Human Services online or by calling 800-368-1019. If you suspect Medicare fraud, you can report it to 800-HHS-TIPS.

Mortgage Fraud
Mortgage fraud doesn't just apply to buyers and sellers who lie on their mortgage applications. It can also occur if an identity thief steals a homeowner's Social Security number or comes across their mortgage account number. With this information, it might be possible to take out a home equity line of credit or second mortgage, then make off with the money. If it happens to you, contact your mortgage lender immediately. Learn different ways to detect and avoid mortgage fraud.

Home Title Fraud
Home title fraud is when a scammer gains possession of the title to your property. By stealing other components of your identity, they may be able to transfer the ownership on your property title to themselves. At that point, they can use your home equity to gain access to loans and lines of credit. The repercussions can come as a terrible shock to the rightful homeowner, who could face unexpected foreclosure notices. Prevent home title fraud by periodically checking your home information with your county's deed office. If you suddenly stop receiving things like your tax bill or mortgage bill, that's another potential cause for alarm.

Lost or Stolen Passport
A valid passport number can fetch a hefty price on the dark web. It's a business that helps criminals turn a profit by falsifying travel documents for those willing to pay top dollar for them. This can spell trouble for consumers who've lost their passport or are victims of theft, especially if it happens while they're away from home. If your passport number has been compromised, the U.S. Department of State recommends reporting it as lost or stolen. This will subsequently invalidate it so that it can no longer be used for international travel. Still, the victim will have to cover the fees to get a new passport.

Internet of Things Identity Fraud
Everything from smartphones to household appliances to cars are now synced up to the internet and linked to one another. Smart devices that can tell you your day's schedule while you brush your teeth, for example, are certainly convenient, but this so-called internet of things (IoT) has also created a new vulnerability point for hackers to exploit. This type of identity theft occurs when someone exploits a security flaw in an internet-connected device to gain access to your personal data. Since devices are almost always connected to important user accounts (such as your email), each device potentially represents an entry point for a hacker.

If you use these devices, be sure to periodically check your financial statements and credit reports for signs of fraud. If you spot something fishy, change your passwords on all internet-connected devices as soon as possible. Secure your home's wireless network with a secure password, and make sure all smart devices use the network you've set up. Or, you may decide that these devices aren't worth the risk, and avoid bringing them into your home altogether.