by Chelsea Springli 
Have you been the victim of identity theft? While many are cautious about where they share their personal information, mistakes can happen and scammers are good at finding what they need. Watch for these warning signs identified by the Federal Trade Commission (FTC).
Identity Theft Warning Signs
- You see withdrawals from your bank account that you can’t explain
- You don’t get your bills or other mail
- You get calls from debt collectors about loans that aren’t really yours
- You find unfamiliar accounts or charges on your credit report
- You receive medical bills for services you didn’t use
- You get notice that your information was leaked in a data breach at a company where you do business or have an account
If you believe you are a victim of identity theft, you should take action quickly. Follow the steps below to control the damage and start recovering financially.
Step 1: Contact Your Financial Institution
If you don’t notice any unusual charges, your credit union may still detect them. If you do catch anything suspicious, the first step is to contact your financial institution. This prevents the scammer from doing more damage. When you contact your financial institution, you should
- Dispute the charges
- Lock or close the compromised account
- Order a new debit card
If you catch the compromise after business hours or on a weekend, you can start the processes through online and mobile banking. Visit our Learning Center for step-by-step guides.
Step 2: Check Your Statements
Pull up your other accounts and scan old statements for other charges that you don’t recognize. Don’t forget to review dormant or infrequently used accounts as well. The credit union makes it simple for you to review your statements at all times with eStatements. Don’t forget to also look at your credit report to assess whether you’re a victim of credit card fraud or a stolen identity. Request copies from all three major reporting agencies, Experian, Equifax, and TransUnion, and look for any accounts you may not recognize. If you notice fraudulent activity, work with your financial institution to contact the credit bureaus to try to dispute the fraud.
Step 3: File an Identity Theft Report
You should contact your local police department and file a report. Although the police may not be able to do anything if criminals online or overseas have stolen your identity, your report could help them track down someone who is stealing information locally.
Next, contact the IRS to report the identity theft. After you file your report, they will help you create a recovery plan to help you recover your identity as soon as possible.
Step 4: Sign Up for Credit Monitoring
If your information was accessed in a data breach, you’ll want to invest in a credit monitoring service. This can range in price, but when my data was breached in the past, I chose to go the free route and check mine regularly through Credit Karma. It is a free service where you can see your accounts, your last reported balances and the factors affecting your credit scores. Alltru’s Premium and Value Checking accounts also offer identity theft protection. If your credit report has fraudulent activity, you’ll want to follow up with the credit bureaus and request that a fraud alert be placed on your account.
Be Careful
Unfortunately, identity theft can take a while to recover from. With accurate documentation, you can begin recovering your accounts more quickly. Sometimes, the damage is done and your credit score drops. Even though you are the victim in this situation, you’ll need to proactively work to repair your credit score. Making your minimum payments on time for all loans, including your car, mortgage, student loans, personal loans, and credit cards will slowly start to improve your credit score. Identity theft can happen to anyone. If it happens to you, stay calm, take action quickly, and use the steps above to protect your accounts. And if you are a member, Alltru is here to support you through the identity theft recovery process.
