Identity Theft - What To Do If You Think You May Be A Victim

If, despite all the precautions you have taken, you suspect that you may be a victim of identity fraud, then you need to act with the utmost haste. The earlier the fraud is detected and reported, the smaller will be the financial losses for all concerned - and the greater the chances of catching the criminal will be.

Don't hold back or delay because you feel foolish or embarrassed - millions of people around the world are subjected to this form of fraud every year. Criminals are ingenious and take advantage of the fact that most people assume others to be as honest as they are themselves. 

Remember, you are a victim here - you deserve help. Also remember that you have a duty, to both yourself and the financial organisations you are associated with, to act quickly and minimise the eventual costs.

Identity Theft Action Plan

1. Report the crime to the police immediately. Request a copy of the police record so that you can prove to your creditors that you have reported it.
   
   
2. Contact your bank and credit card companies and inform them of the problem. Work with them to minimise the damage. Have new cards, PIN numbers and passwords issued as quickly as possible.
   
   
3. Get a copy of your credit report and check for any signs of fraudulent activity - remember, the fraud may have been going on for longer than you are aware.
   
   
4. If you suspect that any other non-financial documents containing your personal details may have been stolen then contact the relevant authority e.g. - the passport office, the driving licence authority.
   
   
5. If you suspect that your mail may have been stolen, tampered with or diverted contact the post office.
   
   
6. Open a journal and record all relevant facts relating to the fraud.

What Next?
What happens next will depend upon the individual circumstances, the extent of the fraud and how quickly it was detected. In the huge majority of cases your personal financial liability will be limited to a small amount of money if any.

However, you can probably expect to devote a large amount of time in the aftermath of such a fraud. It's not unusual in such cases to find that the criminal has more bank accounts in your name than you do yourself!

It will be a stressful time for you - but don't forget you are the victim, and your personal liability is limited. Work closely with the police, your bank, your credit card company and any other authorities to resolve the matter as quickly as possible.