6 Steps to Reporting Identity Theft

Identity theft can be a stressful and overwhelming experience, but taking prompt and organized action can help you regain control. Follow these six steps to report identity theft and minimize its impact on your life.

Step 1: Recognize the Signs of Identity Theft

The first step is identifying whether your identity has been stolen. Common signs include:

• Unauthorized transactions on your bank or credit card statements.
• Receiving bills or account statements for services you didn’t sign up for.
• Notifications about changes to your credit report you didn’t authorize.
• Denials of credit or unexpected changes to your credit score.

If you notice any of these warning signs, act quickly to protect yourself.

Step 2: Place a Fraud Alert on Your Credit Report

Contact one of the three major credit reporting agencies—Equifax, Experian, or TransUnion—and request a fraud alert. The agency you contact will notify the other two. A fraud alert informs creditors to take extra steps to verify your identity before opening new accounts in your name. This alert typically lasts for one year and can be renewed if necessary.

Step 3: Review Your Credit Reports

Once you’ve placed a fraud alert, request free copies of your credit reports from AnnualCreditReport.com. Carefully review each report for unfamiliar accounts, transactions, or inquiries. Take note of any discrepancies and keep a record for future reference.

Step 4: Report the Theft to the Federal Trade Commission (FTC)

File an identity theft report with the FTC at IdentityTheft.gov. The FTC will generate a personal recovery plan and provide you with an Identity Theft Report. This report can be used to dispute fraudulent accounts and transactions.

Step 5: File a Police Report

Visit your local police department to file a report. Bring copies of your FTC Identity Theft Report, proof of your identity, and any evidence of the theft (e.g., fraudulent bills or account statements). While not all financial institutions require a police report, having one can strengthen your case when disputing fraudulent activity.

Step 6: Contact Relevant Organizations

• Notify Your Banks and Credit Card Issuers: Inform your financial institutions about the identity theft, close affected accounts, and request new account numbers.
• Dispute Fraudulent Transactions: Work with your bank or credit card company to reverse unauthorized charges.
• Contact Other Companies: If the theft involved utility accounts, phone services, or loans, notify the respective companies and provide your Identity Theft Report.
• Consider a Credit Freeze: A credit freeze prevents creditors from accessing your credit report, making it harder for identity thieves to open accounts in your name. Contact each credit bureau to initiate the freeze.

Bonus Tips for Protection

• Monitor your financial accounts regularly for suspicious activity.
• Use strong, unique passwords for your online accounts and enable two-factor authentication.
• Shred sensitive documents before discarding them.

Taking these steps promptly can help you recover from identity theft and safeguard your personal information. Remember, staying proactive and vigilant is key to protecting yourself in the future.