Identity theft is perhaps the most terrifying experience one can endure these days. With so much of our personal data online — from bank accounts to social media profiles — it’s never been easier for thieves to steal your identity and use it for their own purposes. If it ever happens to you, it can be daunting and confusing. But don’t panic. There are specific steps you can take to protect yourself and limit the damage.
In this article, we’ll walk through what to do if your identity is stolen online, and how to regain control.
How Does Identity Theft Happen?
First, it is a good idea to learn about how identity theft occurs. There are a variety of ways thieves can obtain your personal information: via phishing emails, data breaches, stolen mail, or even malware on your computers. In some cases, they don’t even have to steal your entire identity — a name, Social Security number, or credit card information can be more than enough to wreak havoc.
Once they have your information, they can establish credit accounts in your name, make purchases, or even commit crimes in your name. This will really hurt your credit and reputation.
Signs Your Identity May Have Been Stolen
You may not always know immediately if your identity is stolen. But there are a few common telltale signs to look out for:
Unexpected bills or credit cards you didn’t apply for
Collection calls regarding debts that are not yours
Your bank or credit card statement displays unfamiliar charges
You receive notifications of password updates or account log-ins you didn’t make
You are suddenly rejected for credit or loans
Your packages or mail cease to come or are sent elsewhere
If you see any of these, you need to act fast.
Step 1: Report It Immediately
The initial step when suspecting identity theft is to report it. This might prevent further damage.
Call your bank and credit card issuers to report the crime and freeze or close the accounts that have been hit.
Report to the police where you live. It may be a hassle, but the police report will come in handy when contacting creditors and credit agencies.
Tell the Federal Trade Commission (FTC) about the theft on IdentityTheft.gov. They offer a free personal recovery plan and assist you through every step.
Step 2: Put a Fraud Alert on Your Credit Report
Then, call one of the three major credit reporting bureaus — Equifax, Experian, or TransUnion — and order a fraud alert added to your credit report. This alert notifies creditors to go the extra mile to confirm your identity before opening new accounts.
Fraud alert will remain on your credit report for a period of one year but can be extended. It is free and an effective way to prevent future fraud.
Step 3: Review Your Credit Reports Closely
You are allowed to have one free credit report every year from each of the three credit bureaus. Review these reports for accounts or inquiries you do not know about. If you suspect something is wrong, report it as soon as possible.
Keeping an eye on your credit regularly catches issues early before they become bigger problems.
Step 4: Freeze Your Credit (If Necessary)
If the theft is really serious, even think about freezing your credit entirely. That means no one can open new accounts in your name without your permission. It’s a bonus step of security but can complicate opening new credit a little bit.
You’ll have to call all the credit bureaus individually to place a freeze on your credit. Don’t forget, you can temporarily lift the freeze if you ever need to obtain a loan or credit card.
Step 5: Lock Down Your Online Accounts
Update the passwords on all of your online accounts — particularly your financial and email accounts. Choose strong, separate passwords for each account, and use a password manager to help keep them organized.
Turn on two-factor authentication (2FA) where available. This requires an additional step when logging in and makes it more difficult for crooks to gain access to your accounts.
Step 6: Watch for Your Financial Statements and Credit
Carefully review your bank and credit card statements for at least a few months after a case of identity theft. New unauthorized charges may show up even several weeks after the theft.
You may also enroll in credit monitoring services. These are provided for free by some banks and credit card firms and alert you when your credit report changes.
Step 7: Remain Vigilant for Future Problems
Identity theft can be a continuous problem in some cases. Stolen thieves might attempt to use your information repeatedly or come after your accounts later. Be on your guard and report any unusual activity immediately.
If you’re being cold-called or emailed out of the blue for personal details, be wary. Scammers may attempt to deceive you once again.
Step 8: Clean Up Your Personal Information
Take steps to minimize the amount of personal data about you online. This could involve changing privacy settings on social media or deleting old accounts you no longer use.
Watch what you post publicly — the less data out there, the more difficult it is for thieves to steal your identity.
Final Thoughts: Take Control and Don’t Lose Hope
Being a victim of identity theft is stressful, but by moving quickly and taking the proper steps, you can limit the damage and begin to rebuild your security. Keep in mind, you are not alone — many are suffering from this issue, and there are help mechanisms available.
Stay up to date, keep your info private, and watch out online. Prevention is always better than a cure, but in case the worst occurs, know how to behave and seek help promptly.
