Credit Card Identity Theft Tops Fraud Reports in New York—And the Consequences Are Escalating | Petroff Amshen LLP

May 20, 2025

Credit Card Identity Theft Tops Fraud Reports in New York—And the Consequences Are Escalating

Tens of thousands of New Yorkers are discovering accounts they never opened, charges they never made, and financial damage they didn’t cause. In 2024 alone, 26,736 residents reported credit card identity theft, making it the most reported type of fraud in the state.

Closely following were 15,965 cases related to identity theft involving online shopping, emails, social media platforms, and insurance services. Another 7,811 reports were tied to fraudulent loans and lease applications. These figures reflect a growing and persistent threat to personal credit integrity and financial stability.

What the Data Reveals

The issue is not limited to New York. Nationwide, the Federal Trade Commission recorded over 439,000 reports of credit card identity theft in 2024. Of those, 404,152 involved new accounts opened using stolen personal information.

This pattern suggests a sustained and systematic use of compromised identities to gain access to consumer credit. The problem is no longer occasional—it is structural and widespread.

In just the third quarter of the year, the FTC documented 116,612 new cases, underlining the urgency of the situation.

“When identity theft goes unchecked, the consequences can persist for years—especially in cases involving new credit lines"

From Unexpected Credit Denials to Legal Intervention

For many, the first sign of identity theft is not an alert, but a problem: a declined credit card, a rejected loan, or a call from a debt collector about unfamiliar charges. In many cases, credit check identity theft is the first indication—when victims see unfamiliar credit inquiries or accounts on their reports.

By the time a victim of identity theft becomes aware, the damage is often significant.

Our identity theft attorneys intervene to challenge fraudulent accounts, assisting with disputes, and take legal action under federal consumer protection laws. We work directly with each client to help restore their credit standing and financial control—without relying on third-party services or automated processes.

“When identity theft goes unchecked, the consequences can persist for years—especially in cases involving new credit lines. Our goal is to protect our clients’ rights and pursue effective resolution through legal action”, declared Serge F. Petroff, Founding Partner from Petroff Amshen LLP.

How to Identify the Signs

The most common indicators of identity theft include:

Credit accounts on your report that you didn’t open

A sudden and unexplained drop in your credit score

Contact from debt collectors regarding unfamiliar charges

Bank statements or credit approvals for accounts you didn’t request

Loan denials based on debts that aren’t yours

If any of these apply to your situation, legal action may be necessary to stop further harm and correct your records.

Why Legal Support Matters

Credit card identity theft is not just a personal inconvenience—it’s a legal issue that deserves a legal solution. At Petroff Amshen LLP, we treat each case as a matter of financial justice, working closely with clients to restore what was taken from them: their credit, their name, and their peace of mind.

We have assisted New Yorkers against unlawful financial practices. Today, that includes the legal consequences of identity theft. If you are a victim of identity theft, especially involving credit check identity theft, we’re here to help reclaim what’s yours—through legal action that delivers lasting results.