The Financial Crimes Task Force recommends taking the following steps should you become a victim of a financial crime or identity theft:
PLACE A "FRAUD ALERT" OR "VICTIM STATEMENT" ON YOUR CREDIT REPORT
Contact
Experian,
Equifax,
TransUnion and inform them that you are a victim. Ask that they place a "fraud alert" or "victim statement" on your credit report and that
they contact you personally prior to the opening of any new accounts. Be sure to order a copy of your credit report for
review to make sure that no additional fraudulent activity has occurred. Send this
letter to each of the credit bureaus to reiterate your concerns.
NOTE: These "fraud alerts" are only as good as the creditors who see them and
choose to adhere by them. Creditors may often gamble with purchases that appear legitimate and
simply write off the loss if the sale turns out to be fraudulent.
DISPUTE AND CLOSE ALL ACCOUNTS THAT WERE OPENED FRAUDULENTLY
Ask the company to send you the necessary forms for disputing fraudulent charges or debits. Check to see if the company will
accept the Federal Trade Commission's
"ID Theft Affidavit." If the company does not have a special form to dispute the fraud,
you may be able to use this
letter.
The Fair Credit Billing Act has established procedures for resolving errors or fraudulent charges on your credit cards.
Under the act, you must contact creditors in writing within 60 days from when the creditor would have mailed the erroneous
statement. Be sure to send this letter by certified mail, return receipt so that you have proof that the creditor received it.
The creditor must acknowledge your complaint in writing within 30 days and must resolve the dispute within 2 billing cycles.
PLACE AN ALERT ON ACCOUNTS NOT YET AFFECTED
To ensure that no additional accounts are affected, send this
letter to all of your unaffected accounts, informing the creditor
that you would like to be contacted prior to any changes being made to your account.
CONTACT COLLECTION AGENCIES
In some instances, your first indication that you are a victim of a financial crime is a call or letter from a collection agency.
Send this
letter to those collection agencies who contact you.
CONTACT AGENCIES ISSUING YOU PHOTO IDENTIFICATION
In addition to the information stored on credit and debit cards, photo identification such as drivers
licenses and passports are equally as enticing to thieves for the information that they contain. If
your drivers license is stolen, immediately contact the department of motor vehicles in the state
where your drivers license was issued. Most states will issue you a new drivers license and number.
Visit
www.DMV.org
for a complete list of drivers license information by state.
For travelers whose passports are stolen, the U.S. Department of State has a section on their web-site
devoted to
reporting a lost or stolen passport.
This information is entered into the Consular Lost/Stolen Passport System. Passports which are reported
as lost or stolen are invalidated and can no longer be used for travel.
FILE A REPORT WITH YOUR HOMETOWN POLICE
Collect all of your information and documents related to the fraud and report it to the local police. The Federal Trade Commission
encourages you to be persistent. Local authorities may tell you that they can't take a report, however a resolution by the
International Association of Chiefs of Police
has made a victim's hometown police department the standard reporting agency
for identity theft.
A police report is important because many creditors require one to resolve your dispute and credit bureaus will
automatically block the fraudulent accounts and bad debts from appearing on your credit report. If you can't get the local police
to file a report, be sure to check with the county or state police in your area.
FILE A COMPLAINT WITH THE FEDERAL TRADE COMMISSION
The Federal Trade Commission (FTC) is the federal clearinghouse for complaints by victims of identity theft. Although the FTC does not have the authority to bring
criminal cases, the Commission assists victims of identity theft by providing them with information to help them resolve the financial and other problems that can
result from identity theft. The FTC also may refer victim complaints to other appropriate government agencies and private organizations for further action.
If you have been a victim of identity theft, you can file a complaint with the FTC by contacting the FTC's Consumer Response Center toll free at
1-877-FTC-HELP or on the web at
www.ftc.gov/ftc/complaint.htm.
ORGANIZE YOUR COURSE OF ACTION
Clearing your name after a financial crime is both time consuming and complicated and requires an organized and thorough
approach in terms of your record keeping and attention to details. On average it takes 600 hours to clean up identity theft.
Buy a notebook. Write down the names, dates and information received from everyone that you speak to over the phone or Internet. Keep copies of all the documentation or correspondence that
you send and receive by email or mail.
Follow up in writing with all the contacts you have made, mailing any correspondence as certified mail/
return receipt requested. Finally, set up a filing system for easy access and maintain records even after the case is closed.
Errors may still pop-up years after the situation has been corrected.
EMOTIONAL IMPACT ON THE VICTIMS
Many people assume identity theft is a victimless crime. Idenity theft is NOT a victimless crime.
Victims often experience stress and emotional feelings of being violated. Studies have shown victims
display similar emotional and symptoms to a person who has experienced a Post Traumatic Stress Disorder.
A person may feel angry, betrayed, unprotected, vulnerable, sad, lacking trust, sleep disturbance, sense of powerlessness,
fears of financial security, lack of support from family, friends. Studies also show there is an emotional impact for the short and long term
are similar to victims of violent crimes. Victims also have burden of cleaning up the mess and dealing with people who might not be sensitive
to their situation or understand being an identity theft victim.
It's normal to have emotional feelings. Express your feelings by talking and seek support from family, friends,
chat rooms, support groups in your community, counselors and professionals.
Financial Crimes
