If your identity has been accessed it is easy for criminals to quickly open multiple lines of credit and perpetrate “bust-out schemes.”

The fraudster creates new credit cards and then immediately uses the credit cards to buy gift cards at various department stores which are then sold on various online websites where they can get up to 80-90% of face value.

The criminals who commit identity theft walk away with the profits and are unable to be traced.

If you believe you are the victim of identity theft, the first person you should contact is the credit bureaus and they will put an alert on your accounts.

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