Identity theft is the crime of obtaining another person’s personal or financial information with the intention of assuming that person’s identity to make purchases or borrow money. If you become a victim of identity theft, you may feel upset and overwhelmed knowing someone has access to your private information. However, remember that recovering from identity theft is possible. By breaking the process down into steps and using the right resources, you’ll protect yourself from further harm, and move towards life after identity theft faster and more effectively.
STEP 1: Call Companies Where Fraud Occurred
- Inform them of the fraud
- Close account (if necessary)
- Change logins, passwords, and PINS
STEP 2: Obtain Credit Report & Set Fraud Alerts
- Visit annualcreditreport.com to obtain a credit report from 3 major credit reporting bureaus
- Review each report carefully
- Set fraud alerts with each credit reporting bureau
STEP 3: Report ID Theft to Federal Trade Commission
- Visit identitytheft.gov or call (877) 438-4338 to complete the Identity Theft Report
- Follow established recovery plan
STEP 4: File a Police Report
- Contact local law enforcement to inform them of theft
- Provide a copy of your FTC Identity Theft Report
STEP 5: Correct Credit Report information
- Submit disputes to each credit reporting bureau that contains fraudulent account information
- Can be completed online at the credit bureau’s website or by mailing a dispute letter
STEP 6: Consider an Extended Fraud Alert or Freeze
- Extended fraud alerts last for seven years
- Credit freezes last until you remove them
STEP 7: Contact Social Security Administration
- Create a My Social Security account at ssa.gov/myaccount/
- Review the earnings posted to your record
- Contact Social Security if you see inconsistencies
STEP 8: Contact the Internal Revenue Service (if applicable)
- Respond immediately to any IRS notice by calling the number provided
Remember, don’t wait to respond if you have been the victim of identity theft. Not only will you limit your liability for the fraudulent transactions, but you may also be able to stop the fraud from making a mess of your life. Feeling uncertain about what to do first is common, but by springing into action and following these eight steps, you’ll be on the road to rebuilding your finances.
Being aware of the latest scams and best practices in order to protect yourself in advance is always a good idea. Your Credit Union has a best-in-class Security Center, developed in cooperation with the same industry-leading consultants that keep your Credit Union cyber-safe.
Resources
Equifax
To order a credit report: (800) 685-1111
To report fraud: (888) 766-0008
equifax.com
Experian
(888) 397-3742
experian.com
TransUnion
To order a credit report: (800) 888-4213
To report fraud: (800) 680-7289
transunion.com
Annual Credit Report
(877) 322-8228
annualcreditreport.com
Federal Trade Commission
(877) 382-4357
Identity theft hotline: (877) 438-4338
ftc.gov
Social Security Administration
(800) 772-1213
Identity theft hotline: (877) 438-4338
ssa.gov
