How do you report Identity Theft?

If you do become a victim of identity theft it is important that you report this as soon as possible, to help limit the damages and regain control of your good credit name as quickly as possible.

Report to Financial Services
If any of your credit/debit cards have been lost or stolen, then the first thing to do is report this as quickly as you can to the provider, as they will be able to cancel the card straight away and this will limit the extent of the fraudulent activity.

If you suspect your identity has been stolen through other means, you should check through all of your credit products such as checking accounts and credit cards, and make sure that no suspicious activity has taken place.  If can be a good idea to notify your account providers that your identity has been stolen, and they can place flags on your account or even freeze them temporarily to prevent anyone from tampering with them.

Report to the Police
It is important that you report all identity theft cases to the police, as this is a serious crime and in the US carries a maximum imprisonment sentence of 15 years (more if related to other fraudulent activity).  Although the police may not be able to investigate your case individually they may have dedicated fraud teams investigating identity theft rings, and your statement could be beneficial to their ongoing investigations.  Also you may need a report number in order to prove at a later date the theft has actually taken place, if your providers are being pedantic about reimbursing your for any fraudulent charges.

Report to Credit Agencies
Experian, Equifax and TransUnion hold millions of credit reports, and these record the credit history of consumers all around the world.  It is important to notify these agencies if you become a victim of identity theft, as they can then place blocks on your consumer credit file, which will prevent anyone from applying for credit products such as new credit cards or loans in your name.