Identity Theft 101: What to Do if Your Personal Information Gets Stolen

Identity theft is the act of using someone’s personal information to commit fraud. Most cases of identity theft occur due to economic reasons such as fraudulent credit card transactions and unauthorized bank withdrawals. Other cases of identity fraud include making fake medical claims and filing tax returns using someone else’s personal information. With the fast-evolving nature of technology, identity thieves have also become more sophisticated. In the unfortunate event that you become a victim of identity fraud, here are some ways on how you can minimize its disruption to your personal and financial profiles.

Freeze Your Credit Cards

If you see any signs of identity fraud, you must immediately call your credit card company to have your accounts frozen to prevent any further transactions. Some issuers also allow their customers to freeze or unfreeze an account through their website.

Contact the Companies Where a Suspected Fraud Occurred

Make sure to call your credit card companies if you suspect any fraudulent transactions under your account. This will allow your bank to block your card and file for a replacement, which takes two to three business days on average. Some card-issuing banks require clients to submit a dispute form within 14 days to proceed with an investigation. Your report can also be useful in case you decide to escalate the case to authorities.

Ask for Documents

You also need to secure all documents and records related to the fraudulent transactions from your card-issuing banks or the company where the fraud occurred. This request should be put in writing. Once granted, it must be included in the report that you could file before local law enforcers.

Additionally, you need to keep a record of your actions from the time you first reported the case. Include the names of people you contacted, their numbers, and respective companies, as well as the date of your correspondence.

Clean up your Computer

Hackers target computers to steal credit information through malicious programs. For additional safety, run anti-virus software on your computer to detect if your machine is infected. You also need to change your passwords if you think your accounts are compromised. Make sure to use complex passwords to protect your accounts and keep this information to yourself. You can use a password manager app if having multiple passwords for various accounts get overwhelming. Additionally, always log out of a device after accessing your personal accounts. Check out our article on how to prevent cybercrimes (add hyperlink of cyberattack article once live).

File a Police Report

This is an optional step, but you can go to your local police and file a report. You may need to bring with you a copy of the identity theft report with your card-issuing company, a government-issued ID, and proof of billing. Make sure to secure a copy of the police report for your own records.