Protecting Yourself from Identity Theft: What to Do If You Become a Victim
Identity theft is a serious and increasingly common crime that can have devastating effects on your financial well-being and personal security. If you suspect or discover that you’ve become a victim of identity theft, it’s crucial to take immediate action to mitigate the damage and protect yourself. Here are the steps you should take:
1. File a Police Report:
Contact your local law enforcement agency and file a police report detailing the identity theft. This official documentation is essential for proving that you are a victim of a crime and may be required by banks, creditors, and other institutions as part of the recovery process.
2. Contact Your Bank:
Inform your bank or financial institution immediately about the identity theft. They can help you secure your accounts, monitor for any suspicious activity, and take steps to prevent further unauthorized transactions.
3. Notify Financial Institutions:
Reach out to all financial institutions and creditors with whom you have accounts or financial relationships. Inform them of the identity theft and request that they flag or close any compromised accounts to prevent further fraudulent activity. Tag accounts closed due to fraud with a note stating “Closed at consumer’s request.”
4. Contact Credit Bureau Fraud Units:
Contact the fraud departments of the major credit bureaus—Equifax, Experian, and TransUnion—and report the identity theft. Request that they place a fraud alert on your credit report, which can help prevent additional unauthorized accounts from being opened in your name. This service is typically free for victims of identity theft.
5. Establish Telephone Inquiry Passwords:
Set up a password or PIN for telephone inquiries on your credit card accounts. This extra layer of security can help prevent unauthorized access to your accounts by impostors posing as you.
6. Check the Post Office for Unauthorized Changes:
Monitor your mail for any unauthorized change of address requests. Identity thieves may attempt to redirect your mail to access sensitive information sent to your address.
7. Follow up in Writing:
After making initial notifications, follow up with written correspondence to all relevant parties. Keep copies of all correspondence, including emails, letters, and notes from phone calls, for your records.
8. Report Check Theft:
If checks have been stolen or used fraudulently, report the theft to check verification companies to prevent unauthorized transactions.
9. Keep Detailed Records:
Maintain thorough records of all actions taken and communications related to the identity theft. This documentation will be valuable for proving your case and resolving any disputes that may arise.
Becoming a victim of identity theft can be a distressing experience, but taking prompt and decisive action is crucial to minimize the damage and regain control of your finances and personal information. By following these steps and remaining vigilant, you can protect yourself against identity theft and safeguard your financial security. If you have any further questions or concerns about identity theft, don’t hesitate to reach out to your financial institutions, credit bureaus, or law enforcement for assistance. Remember, being proactive and informed is your best defense against identity theft.
Additional resources for customers:
Contact a banking center nearest you for more information.
