How to report Identity Theft?

Criminals who use your personal and financial information, such as, your social security number or credit card number which are used to apply for new credit cards or secure bank loans commit the crime of identity theft. Unfortunately, identity theft is the fastest-growing financial crime in the U.S. In 2002 there were 161,800 complaints of identity fraud filed with the Federal Trade Commission.
As of April 2002, credit reporting agencies and regulators have streamlined the procedures for reporting identity theft which require the notification of identity theft to only one credit reporting agency. If you are a victim of identity theft these are the recommended procedures to follow:

• Call one of the following credit reporting agencies:
  Equifax at 888-766-0008
  Experian at 888-397-3742
  TransUnion at 800-680-2289
  
  These credit reporting agencies will send copies of your credit report within one week. Review these reports carefully for incorrect or fraudulent items.

• File a report with your local police department.
• Call the Federal Trade Commission’s Identity Theft Hotline at 877-438-4338
• Notify creditors of phony accounts using your federal government’s ID Theft Affidavit-Get this form at http://www.consumer.gov/idtheft
• Continue to monitor your credit report regularly for new fraudulent items or the re-appearance of old bogus items

By following these steps you can start the process to repair the damage caused by the crime of identity theft.

August 8, 2003
Matt Strilbyckij, CPA MBA