The Umbrella

If you are the victim of identity theft, it will almost certainly be a confusing, frustrating (and definitely angry!) roller coaster. It is important to not panic, but to also move with urgency in order to mitigate damage and take back control of your financial life. To help, you’ve assembled a simple guide that consolidates information from numerous state and federal consumer protection sources into an actionable checklist.

IDENTITY THEFT INVOLVING CREDIT CARDS OR OTHER BANKING ACCOUNT

There are other forms of identity theft, but in this checklist we are focused on one of the most common Identity theft targets which is unauthorized credit card use or other fraudulent banking charges. If your credit card or banking information is stolen, follow these steps:

1. Inform the relevant banks or credit card companies about the theft and dispute any unauthorized charges.
2. Regularly check your account statements for signs of fraudulent activity.

It may be as simple as shutting down a single stolen credit card. However, you may need to take even more serious action. Credit card misuse is often a hint at a broader compromise of your identity, extending beyond a single account. Be vigilant for suspicious activities in your other financial accounts or credit reports. If you notice an unusual pattern of fraud in various accounts or find other evidence of a more widespread identity theft unrelated to your credit card, the following steps may be required.  

STEP 1 – Request a Fraud Alert

Request a fraud alert with the three credit reporting companies (Equifax, Experian, or TransUnion) so that they will notify you of any new requests for credit on your behalf. If you identity credit requests that don’t belong to you, it is likely an indication of more widespread identity theft. To request a fraud alert:

• • usually just contacting one of the three credit reporting companies (Equifax, Experian, or TransUnion) is sufficient because you can request that the company contact the other two reporting companies;
• • tell the company you are a victim of identity theft and request that a fraud alert be placed on your credit report (this initial fraud alert will last for 90 days);
• • order your free credit report; by creating the fraud alert, you are entitled to one free copy from each credit reporting company within 12 months of placing the alert, regardless of when you requested your last report.
• Note: All consumers, regardless of a fraud alert, are entitled to receive one free credit report every 12 months from each of the companies, but you need to go through AnnualCreditReport.com in order to get it (and there are many third-party providers that will try to charge you for this, so be sure to go through AnnualCreditReport.com.) However, placing the fraud alert entitles you to reports beyond this annual freebie.

STEP 2 – Put together an Identity Theft File

Start collecting the following information and put it in a safe place:  

• the most recent credit reports from all three credit reporting companies;
• all evidence of the identity theft, including any information about the offender and a comprehensive timeline, along with screenshots and/or .pdfs of all emails/files/statements, etc.;
• a record of communication with financial institutions and credit reporting companies (again, keep .pdfs of all emails/chats, etc when possible) and keep a record of any phone conversations, with dates, names, and phone numbers of any representatives, and notes on the information they provided;
• the most recent credit reports from all three credit reporting companies;
• a police report, if applicable;
• an identity theft affidavit (see below);
• an Internal Revenue Service identity theft affidavit (see below);

STEP 3 – Study Up on Your Rights

Federal, and in certain circumstances, state law provide consumer protection laws that you need to study.

• Review the Federal Trade Commission’s information at www.identitytheft.gov/knowyour-rights.
• And research information from your state attorney general. Find your AG’s contact information at www. naag.org.
• Also research the Identity Theft Resource Center at www.idtheftcenter.org or call (888) 400-5530 (open 24/7).

STEP 4 – Report the Identity Theft to the Federal Trade Commission and Build a Recovery Plan at IdentityTheft.gov

Report the details of the identity theft to the Federal Trade Commission. By using the FTC’s complaint assistant (www.ftccomplaintassistant.gov). This will also enter the information into the Consumer Sentinel Network which helps other law enforcement agencies. It is important to note that this does not start a criminal investigation of your case.

• Print the identity theft affidavit created by the complaint assistant.
• Your local law enforcement will use this affidavit to create a police report (see next step).

STEP 5 – Consider Reporting the Identity Theft to Law Enforcement Authorities

Using the FTC identity theft report, you should consider filing a police report documenting the identity theft and be sure to obtain a copy of the report.

Here is what you should take with you to file the police report:

• the FTC Identity Theft Report;
• government identification and proof of address;
• try to organize all the proof of the identity theft into a management file that you can easily access when talking with the police.  

The police report along with the FTC identity theft report can be used to create a record that will be useful when dealing with various financial institutions, like creditors, banks and credit reporting companies. After you file a report with your local law enforcement, you may also consider contacting:

• Local District Attorney
• State Attorney General – All state attorney general’s offices have a consumer protection unit. Find your state’s contact information here: www.naag.org
• FBI – You can contact the FBI field office in your area or submit an online tip at http://tips.fbi.gov.

STEP 6 – Request an Extended Fraud Alert and/or Credit Freeze

After obtaining the identity theft and police reports, you may consider the following, additional steps:  

• Request an extended fraud alert
  • Reach out to each of the three credit reporting companies separately.
  • Use the FTC identity theft report and police report to ask for an extended fraud alert. It is free and lasts for seven years.
  • Doing so entitles you to two additional, free credit reports from each of the three credit reporting companies within 12 months of activating the extended alert.
• Credit Freeze
  • Check if your state allows for a credit freeze on your credit report.
  • A credit freeze hinders companies from checking your credit, making it more challenging for fraudsters to misuse your identity for credit purposes.
  • You should be aware, however, that a credit freeze impacts your own ability to access credit, including legitimate lender and employer inquiries. In some cases, you can simply ask for a temporary unfreeze in order to apply for new credit, etc., and then request that it be reactivated.

STEP 7 –Research the assistance provided by the Internal Revenue Service and Social Security Administration

In some cases, the IRS and Social Security Administration provides help with problems related to identity theft.

You may need to submit an IRS Identity Theft Affidavit (Form 14039). Research the IRS’s assistance here:

IRS Identity Protection Specialized Unit (800) 908-4490, www.irs.gov/identitytheft

For the Social Security Administration, contact them at:  Fraud Hotline (800) 269-0271 or at P.O. Box 17785 Baltimore, MD 21235.

STEP 8 – Contest any Fraudulent Activity

If you are victim to identity theft, you will also likely incur fraud on various individual financial accounts (banks, credit cards, other loan or credit providers), insurance and/or medical accounts. Depending on what type of account, you will need to research the terms of service, carefully monitor all your account statements and promptly close impacted accounts and challenge any fraudulent charges. Be sure to stay vigilant and be thorough with your recordkeeping by saving all your communications with the financial institutions.

STEP 9 – Consider Legal Remedies

You may also consider seeking the advice of a civil attorney. There are lawyers who specialize in helping victims of financial fraud. A good resource to consider is the National Crime Victim Bar Association, which may offer referrals and also offer initial consultations at no cost or obligation. You can research and contact them here:

National Crime Victim Bar Association

For a referral, email: attorneyreferrals@victimsofcrime.org

Find more information about civil justice at www.victimbar.org.