Technology
Why scammers open bank accounts in your name
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Identity theft now hits people in sneaky ways. Criminals no longer stop at credit cards or loans.
They test stolen personal data by applying for deposit accounts under your name, which confuses many victims and leaves them unsure how to respond. Brian in Clinton, Pennsylvania recently experienced this twice in the same week. Here is the email he sent us:
“I was recently notified by two different banking institutions that someone completed an online application to open a deposit account in my name. Both banks denied the applications and sent me notifications. One bank sent an email and the other sent a letter. Neither bank will share any information with me about what information was submitted or why the applications were denied. I understand why fraudsters try to open credit accounts, but why would they try to open deposit accounts? One bank told me they could not share any information with me about the failed application due to privacy policy and the other bank said they do not save any information from declined applications from non-customers.
Why would banking institutions not capture or share information about declined online applications? As far as I know, the credit bureaus do not collect information about deposit accounts and Early Warning Services only has information from banks that voluntarily report to them. So, how do I respond or react to someone trying to open deposit accounts in my name? I have put a one year fraud alert on with the credit bureaus but I don’t believe that will help me if someone tries to open a deposit account. Any help or advice would be greatly appreciated. Thanks.” Brian, Clinton, PA
You are right to take this seriously. Deposit account fraud is rising fast as criminals build synthetic identities and test stolen data. When thieves apply for a checking or savings account in your name, they are gathering information about which stolen identities work and which fail. That gives them room to launch more damaging attacks later.
LANDLINE IDENTITY THEFT LEADS TO MAJOR BANK FRAUD
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Why criminals open deposit accounts
Criminals use deposit accounts for several strategic reasons that help them test stolen data and prepare bigger attacks.
Testing stolen data
Fraudsters often begin with deposit accounts because the approval process can be less tied to credit checks. They want to see if your data passes early verification steps.
Moving stolen money
A new deposit account helps criminals launder funds or receive payments linked to scams, unemployment fraud or tax refund theft.
Setting up future attacks
Once they confirm your identity can be used, they may open credit lines or build a synthetic profile that blends your real data with fake details.
Why banks won’t share details
Banks follow strict privacy rules under federal law. Those rules limit the information they can share about any application, even when it misuses your identity. Many banks:
- Purge declined applications fast to reduce their exposure to unnecessary data
- Use external verification services that store the data outside the bank
- Require subpoenas before releasing IP addresses to law enforcement
Even though an IP address can help identify a fraudster, banks will not share it without a legal request tied to an active investigation.
How to protect yourself from deposit account fraud
Take these actions now to lock down your identity and reduce the chances that a criminal can misuse your information again.
1) Consider identity monitoring
Deposit account fraud often falls outside normal credit monitoring. A service that looks at bank accounts and dark web activity adds extra protection. Identity Theft companies can monitor personal information like your Social Security number (SSN), phone number, and email address, and alert you if it is being sold on the dark web or being used to open an account. They can also assist you in freezing your bank and credit card accounts to prevent further unauthorized use by criminals.
See my tips and best picks on how to protect yourself from identity theft at Cyberguy.com.
2) File an FTC Identity Theft Report
Go to IdentityTheft.gov and complete the report. It creates a formal record you can use if you need to file a local police report later.
3) Add stronger alerts or freezes
Brian, you already placed a one-year fraud alert, but you can upgrade to a seven-year alert. You can also freeze your credit at Equifax, Experian and TransUnion to stop new credit lines from opening.
4) Use a data removal service
A data removal service scrubs your personal details from people search sites that criminals often use to build synthetic identities. This reduces how much of your information can be exploited in future attacks.
While no service can guarantee the complete removal of your data from the internet, a data removal service is really a smart choice. They aren’t cheap, and neither is your privacy. These services do all the work for you by actively monitoring and systematically erasing your personal information from hundreds of websites. It’s what gives me peace of mind and has proven to be the most effective way to erase your personal data from the internet. By limiting the information available, you reduce the risk of scammers cross-referencing data from breaches with information they might find on the dark web, making it harder for them to target you.
Check out my top picks for data removal services and get a free scan to find out if your personal information is already out on the web by visiting Cyberguy.com.
Get a free scan to find out if your personal information is already out on the web: Cyberguy.com.
5) Check ChexSystems and Early Warning Services
These companies track deposit account activity. Request your reports at chexsystems.com and earlywarning.com. Look for unauthorized entries and add a security alert or freeze to both.
6) Notify the banks
Even if they cannot share details, ask them to document the attempt on your record. This helps flag future fraud attempts.
7) Watch your mail
Look for debit cards, 1099 forms or bank statements you did not request. Those often reveal when criminals succeed somewhere else.
Next steps
Print every letter or email from the banks. Complete the FTC report and use it if you need to file a police report. Review your ChexSystems and Early Warning reports and add freezes where possible so your identity becomes less useful to criminals.
Kurt’s key takeaways
Deposit account fraud feels confusing because it works outside traditional credit systems. Yet the goal is simple. Criminals want to see which stolen identities pass early checks so they can launch larger attacks later. A few fast steps can shut that door and give you control again.
What other questions do you want us to tackle about identity theft and online banking safety? Let us know by writing to us at Cyberguy.com.
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Technology
Disney Plus is getting vertical video
Disney Plus will be getting a vertical video feed later this year, Disney announced as part of its Global Tech & Data Showcase for advertisers at CES.
Based on an interview with Erin Teague, Disney’s EVP of product management for Disney Entertainment and ESPN, Deadline reports that vertical video in the app could include “original short-form programming, repurposed social clips, refashioned scenes from longer-form episodic or feature titles or a combination.”
“Think all the short-form Disney content you’d want in one unified app,” Teague said onstage at Wednesday’s showcase. “Over time, we’ll evolve the experience as we explore applications for a variety of formats, categories, and content types for a dynamic feed of just what you’re interested in — from Sports, News, and Entertainment — refreshed in real time based on your last visit.”
Update, January 7th: Added quote from Disney’s Erin Teague.
Technology
Plastic bottles could power your devices one day
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Each year, billions of single-use plastic bottles end up in landfills or oceans. That waste problem keeps growing. Now, a new scientific breakthrough suggests those same bottles could help power your daily life.
Researchers have developed a way to transform discarded plastic water bottles into high-performance energy storage devices called supercapacitors. The work focuses on PET plastic, short for polyethylene terephthalate, which is used in most beverage bottles.
The research was published in Energy & Fuels and highlighted by the American Chemical Society. Scientists say the discovery could reduce plastic pollution while helping drive cleaner energy technology.
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SCIENTISTS EXTRACT SILVER FROM E-WASTE USING COOKING OIL
Discarded PET water bottles are one of the most common sources of plastic waste worldwide, with hundreds of billions produced each year. (Kurt “CyberGuy” Knutsson)
Why PET plastic waste is such a growing problem
PET plastic is everywhere. According to the researchers, more than 500 billion single-use PET plastic bottles are produced every year. Most are used once and thrown away. Lead researcher Dr. Yun Hang Hu says that scale creates a major environmental challenge.
Instead of letting that plastic pile up, the team focused on upcycling it into something valuable. Their idea was simple but powerful. Turn waste into materials that support renewable energy systems and reduce production costs at the same time.
NEW TECH RECOVERS 92% OF EV BATTERY METALS
Those upcycled materials come together to form an all-waste-plastic supercapacitor designed for fast charging and long term energy storage. (Kurt “CyberGuy” Knutsson)
How plastic bottles can store and release energy
Imagine a device that can charge fast and deliver power instantly. That is exactly what supercapacitors do. They store and release energy much faster than traditional batteries, which makes them useful for electric vehicles, solar power systems and everyday electronics.
Hu’s team found a way to build these energy storage components using discarded PET plastic water bottles. By reshaping the plastic at extremely high temperatures, the researchers turned waste into materials that can generate electricity efficiently and repeatedly.
Here is how the process works:
For the electrodes, researchers cut PET bottles into tiny, grain-sized pieces. They mixed the plastic with calcium hydroxide and heated it to nearly 1,300 degrees Fahrenheit in a vacuum. That heat transformed the plastic into a porous, electrically conductive carbon powder.
The powder was then formed into thin electrode layers. For the separator, small pieces of PET were flattened and carefully perforated with hot needles. This pattern allowed electric current to pass efficiently while maintaining safety and durability. Once assembled, the device used two carbon electrodes separated by the PET film and submerged in a potassium hydroxide electrolyte.
CIGARETTE BUTTS MAKE ROADS STRONGER THAN EVER BEFORE
Researchers use extreme heat to convert waste PET plastic into porous carbon materials that can store and move electricity efficiently. (Kurt “CyberGuy” Knutsson)
Why the results surprised scientists
When tested, the all-waste-plastic supercapacitor outperformed similar devices made with traditional glass fiber separators. After repeated charging and discharging, it retained 79 percent of its energy capacity. A comparable glass fiber device retained 78 percent. That difference matters. The PET-based design costs less to produce, remains fully recyclable, and supports circular energy storage technologies where waste materials are reused instead of discarded.
What this means for you
This breakthrough could affect everyday life sooner than you might expect. Cheaper supercapacitors can lower the cost of electric vehicles, solar systems and portable electronics. Faster charging and longer device lifespans could follow. It also shows that sustainability does not require giving something up. Waste plastics could become part of the solution instead of the problem. Although this technology is still in development, the research team believes PET-based supercapacitors could reach commercial markets within 5 to 10 years. In the meantime, choosing reusable bottles and plastic-free alternatives still helps reduce waste today.
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Kurt’s key takeaways
Turning trash into energy storage is more than a clever idea. It shows how science can tackle two global challenges at once. Plastic pollution continues to grow. Energy demand does too. This research proves that those problems do not have to be solved separately. By rethinking waste as a resource, scientists are building a cleaner and more efficient future from materials we already throw away.
If your empty water bottle could one day help power your home or car, would you still see it as trash? Let us know by writing to us at Cyberguy.com.
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Technology
Amazon’s smart shopping cart for Whole Foods gets bigger, lighter, and adds tap-to-pay
Amazon is launching a revamped version of its smart shopping cart, which it plans to bring to dozens of Whole Foods locations by the end of this year, according to an announcement on Wednesday. The new Dash Cart features a “more responsive” item scanner that’s now located next to the built-in display, along with a new NFC reader that lets you tap to pay with your credit card or phone.
Amazon’s previous Dash Cart design put scanners beneath and in front of the handle, potentially making them harder to spot. It also only let you pay with the credit card attached to your Amazon account.
With the upgraded Dash Cart, you’ll find a new scale alongside the cart’s handle, which Amazon says “works in tandem with on-cart cameras, weight sensors, and deep learning models to ensure accurate pricing for every item.” The upgraded Dash Cart eliminates the large sensors facing inside the cart as well, offering a 40 percent larger capacity and a 25 percent lighter weight.
The Dash Cart shows an interactive map of the store on its display, similar to Instacart’s smart Caper Cart. You can sync your shopping list created with Alexa, too, and see how much you’re spending as you add more items to your cart. The cart uses built-in sensors and computer vision to detect when you’ve removed an item, allowing it to automatically update your total. When you’re done shopping, you can skip the checkout line and leave the store in a designated Dash Cart lane.
Amazon is launching its new Dash Cart as the company shakes up its grocery business, which has tied Whole Foods more closely to the Amazon brand. The company has already brought its new Dash Cart to three Whole Foods stores in McKinney, Texas; Reston, Virginia; and Westford, Massachusetts, along with two Amazon Fresh stores.
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