If you are a victim of identity theft, the law is on your side. In fact, many different laws have been enacted or amended specifically to combat identity theft. If you find that you are the victim of identity theft, there are four steps you should take immediately. Make sure to document all conversations so you know whom you spoke to and when:

Step #1: Contact the Federal Trade Commission

If you believe you are a victim of identity theft, you should immediately file a complaint with the Federal Trade Commission (FTC). Click here for a link to the FTC website. The FTC is the “clearinghouse” for all identity theft claims. Although the FTC cannot actually bring charges against a thief, it can help to put you in contact with those who can prosecute such a crime. Also, when you share your identity theft complaint with the FTC, you will provide important information that can help law enforcement officials across the nation track down identity thieves and stop them.

Additionally, you can provide a printed copy of your online ID Theft Complaint form to the police to incorporate into their police report. The printed FTC ID Theft Complaint, in conjunction with the police report, can constitute an Identity Theft Report and entitle you to certain protections. According to the FTC, the Identity Theft Report can be used to:

• permanently block fraudulent information from appearing on your credit report;
  
• ensure that debts do not reappear on your credit report;
  
• prevent a company from continuing to collect debts that result from identity theft; and
  
• place an extended fraud alert on your credit report.

Step #2: Contact Law Enforcement

You should immediately file a police report about your identity theft; this can be done in person, over the telephone, or even online. When you file your police report, be sure to bring your FTC ID Theft Complaint form, and any other supporting documentation. Explain to the officer that you need a copy of the Identity Theft Report (the police report with your ID Theft Complaint attached) to dispute any fraudulent accounts, purchases or debits created by the identity thief. It is important to note that in some jurisdictions the officer will not be able to give you a copy of the official police report; however, you should be able to sign your FTC ID Theft Complaint and write the police report number in the “Law Enforcement Report” section of the document. 

Step #3: Contact Your Financial Institution or Other Creditors

Next, you should close the accounts you believe have been affected. You may want to use the ID Theft Report to help you dispute unauthorized accounts or transactions. Most financial institutions or other creditors will ask you to fill out their own forms as well in the case of identity theft, and they will begin their own investigation to assist you in this area.

Step #4: Contact the Credit Bureaus

In the past, you would have had to contact the credit bureaus on your own to place a fraud alert on your accounts in question; however, the law now states that your financial institution or other creditor may assist you with this effort. You may still wish to do this on your own to make sure it is done as you have requested. It is important that a fraud alert is placed on your accounts because it will request creditors to contact you before any new accounts are opened or changes are made to your existing accounts. As soon as one of the credit bureaus confirms your fraud alert, the other two credit bureaus will be contacted and you will be sent three copies of your credit report at no cost.

Remember, the law is on your side in the case of identity theft. Taking action as quickly as possible is the key to recovering from the theft with as little damage as possible.