If your personal information has been lost or stolen, you must take steps to deter identity theft and related fraud from eventually taking place. If you are aware that your information has been used fraudulently, immediate resolution is necessary (see “The Reporting Process” if you already know you are a victim of identity theft). It is an exhaustive, somewhat confusing process that leaves many identity theft victims with feeling of being violated and scrutinized through no fault of their own, but is necessary to protect credit and individual identity from future assaults.

However, considering how vital credit is in the American financial system, resolving any assaults to your identity is absolute.

Lost or Stolen Information

When your information is lost or stolen, this may or may not mean it will be used in fraudulent personal, financial, or credit activities. Nonetheless, you need to report all items as such to their corresponding agency or company. Close all current credit card or banking accounts, then have the company open new accounts and place passwords on each that do not include “key” information as part of the password (like SSNs, driver’s license numbers, mother’s maiden names, etc.)

Report identification documents as lost or stolen to the appropriate agency (DMV, SSA, etc), then take steps replace these items. If the lost or stolen identification includes your social security card, this is the most sensitive of all items (as it relates to your credit, financial and personal identity, and additional steps must be taken. You should file a fraud alert with the Credit Reporting Agencies (CRAs) to ensure your social security number is not used to open fraudulent accounts or for account takeover. There are two types of fraud alerts (see Identity Theft Reporting Process below); at this point, you will be able to file a 90-day alert if needed. The extended fraud alert is used if identity theft actually occurs.

In theft or robbery situations, you should file a report with your local police department as well.

Finally, because lost or stolen information is the starting point for identity theft, you want to watch for signs of fraudulent activity in your name (see “Signs of Identity Theft”). If it is misused, it is vitally important that you enact as many of the appropriate steps as possible to separate and clear your identity from the fraudulent one being created by an identity theft perpetrator. To learn how, follow the measures outlined in “Part II: Initial Steps”.


References

Federal Trade Commission. DEFEND: Recover From Identity Theft
Privacy Rights Clearinghouse. How Many Identity Theft Victims are There? What is the Impact on Victims?