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Identity theft victim—now what?
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My recent articles about identity theft stimulated readers to take action. Many have contacted me for advice. If you have reason to suspect your personal identifiers are being misused by others--take action.
There are four basic steps to follow if you are a victim of identity theft.
1. The Fraud Alert. Have a “fraud alert” also called a “security alert” placed on your credit reports. There is no downside to having a fraud alert placed on your credit reports even if it turns out that you are not a victim.
A fraud alert is simply a notation added to your credit report that states that you should be contacted by a creditor or financial institution before they issue new credit or open a new account. If they look at your credit report, they should comply, but if they do not check your credit report, you are still at risk.
The standard fraud alert is issued for 90 days, and may be renewed by you every 90 days. Placing a fraud alert with all three credit reporting agencies is simple, it requires one phone call. For information on how to have a fraud alert placed on your credit report see the side bar below—“Victims—Follow these Steps.”
2. Close accounts. If any credit, financial, utility or other account you currently have is being misused, contact the creditor or financial institution. Demand that the account be closed immediately, if they do not offer to close the account. If the institution will not close the account, ask that they provide you a written statement that they will be fully responsible for all funds and transactions. Put your request in writing and fax it to them.
Some identity theft victims complain that their bank would not immediately close their account even after unauthorized withdrawal of funds. In one case, the bank froze the victim’s account leaving him without access to his cash and debit account to pay for his daily necessities rather than close the affected account and open a new one for the victim. Consider ending your business relationship if the institution does not act prudently to safeguard your funds and provide a reasonable level of service.
3. File a police report. Typically, you will file the report in the locality in which you reside. Get a copy of the police report if available from the police department. A copy of the report may be required for you to dispute accounts that have been misused in your name.
4. File a complaint with the Federal Trade Commission (FTC). The FTC Complaint Form may be useful in communicating the importance of having the local police take a report.
More details on these four steps: fraud alert, close accounts, police report and FTC complaint can be found in the side bar “Consumer Identity Theft Resources” or the FTC Site.
The “Fifth Step.” Remain vigilant and look for clues.
Non-financial identity theft cannot be stopped by placing a fraud alert on your credit reports because there is usually no reason to check credit reports. Identity theft involving the use of your identifiers to obtain employment, government benefits, government identification, housing and medical treatment will typically show up in other ways. So continue to look for other clues even if you place fraud alerts on your credit report or if you subscribe to identity theft services that provide credit monitoring, fraud alerts, opt-outs and other benefits.
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- Ask Dr. Privacy
- Consumer Red Flags
- FTC's Identity Theft Site
- Take Charge: Fighting Back Against Identity Theft (FTC Pub.)
- Victims--Follow These Steps: Fraud Alert, Close Accounts, Police Report, FTC Complaint
- File an Identity Theft Complaint with the FTC
- Pre-approved Credit Card Offer Opt Out (888-567-8688)
- Credit Reports--Official Free Annual Credit Report (877-322-8228)
- Medical Information Bureau--Free ANnual Report (866-692-6901)
- Social Security Administration--Annual Statement (800-772-1213)
