How to Report Fraud & Identity Theft

Identity theft and fraud can devastate your financial standing. Criminals pose as you to open fraudulent accounts, then make as many charges as possible and run out on the bills while your credit reports take the hit. They also use your current credit cards and bank accounts if they can get the numbers. You may not even be aware that your identity is stolen or your accounts information is compromised until debt collectors call about unknown accounts or checks bounce and credit transactions are denied. Report the problem as soon as you find out to stop further damage.

Instructions

1

Call each of your credit card issuers and tell the agents your accounts may be compromised, the Federal Trade Commission (FTC) advises. Use the toll-free customer service line or fraud hot line number on your card or billing statement. The banks can change your account numbers so identity thieves cannot process charges through the old numbers.

2

Contact one of the three major credit reporting bureaus, explain that you are an identity theft victim and ask for a fraud alert and credit report copy. The FTC states that TransUnion, Experian and Equifax are required to cooperate in fraud cases, so the bureau you call will inform the other two about your alert request.

3

Read your credit reports carefully and call any unfamiliar banks or lenders to report the fraud. Identity thieves open accounts and have statements sent to different addresses so you are not aware of their existence. You will find such accounts on your credit reports, usually with high balances and delinquent payments. The issuers should remove them when you explain that you are a fraud victim and provide documentation, according to the FTC.

4

Fill out a police report about the identity theft and fraud, the FTC advises. You must give a copy to the credit bureaus if you wish to extend your fraud alerts from 90 days to seven years, according to the Utah Attorney General's Office. Credit card companies and other lenders may also want a copy before they remove suspicious charges or close fraudulent accounts.

5

Report any odd charges on your credit card statements. You may still see fraudulent transactions show up for a month or two after you report a fraud problem to your credit card companies. The FTC recommends disputing them immediately by calling the customer service number and asking for the appropriate fraud report form.

6

File a complaint with the FTC. It passes identity theft and fraud reports to relevant law enforcement offices and government agencies, which use the information to build cases against fraudsters.