How to Report ID Theft

Identity theft can happen to anyone, and the effects can be damaging. Oftentimes, dealing with identity theft issues causes workers to take time off of work to make phone calls, visit financial institutions and collaborate with the authorities. While it can be difficult and inconvenient to handle identity theft issues, it is possible. The consequences of ignoring identity theft are far worse: loss of finances, credit rating and material possessions.

Difficulty:

Moderately Easy

Instructions

1. Write down what happened. If you notice that there are unauthorized charges on a bank account, note the account number, amounts, date and time. If you notice open accounts on your credit report that you did not authorize, note the financial institution, account numbers if listed and customer service numbers. It is imperative to have everything well-documented, because you will need to use this information again and again.

2. Contact the Federal Trade Commission's ID Theft Hotline (see References). The number is toll-free, so you do not have to worry about incurring long-distance charges on your home land-line. The Federal Trade Commission requires a lot of personal information, such as your name, date of birth, Social Security number and the specifics of the ID theft incident. The FTC may also ask for cooperation in other ways. Be willing to contact local authorities if asked to do so.

3. Call your financial institution if the charges occurred on an account that you opened. For accounts that you did not open, follow the instructions provided by the FTC. When you call your bank or credit union about unauthorized transactions, give the details of what you noticed and provide information proving your identity. The bank is likely to put a freeze on your account and issue you a new account number and debit card. If the account in question is the only account you have, make sure that you withdraw some cash before calling to ensure that you have money available for necessities until your new debit card arrives.

4. Keep tabs on your credit report to make sure that all inaccurate information is removed. If it is not, follow procedures for having the information removed with each credit bureau.

5. Follow up with your financial institutions to ensure that they have received any and all information they need from you. Sometimes something forgotten can slow the process of restoring your financial identity and security.

6. Follow your credit report and all accounts closely. Once you have been a victim of identity theft, be extra careful. Make sure to use debit and credit cards only on reputable websites and to be extremely cautious about giving out your Social Security number. Shred all important documents before recycling them, and use common sense to guard your bank accounts.

References

• ID Theft Fact Sheet