The target of identity theft in most cases is to hack into financial accounts of an individual or a business, without their knowledge, in order to manipulate the accounts for commercial gain. The security of banking accounts and credit cards are the worst hit, when it comes to finding circuitous ways to find loopholes in their internet security. Following are some tips which will help report identity fraud better and faster.
#1 Reporting identity theft without time delay
The faster one proceeds with reporting identity theft, the sooner do their complaints take effect. Promptness in reporting identity crimes is guaranteed by:
- Steering clear of anxiety and stress on discovering that your financial accounts have been manipulated
- Even before contacting the Police or the IRS or any other law enforcer, banks and credit card companies must be intimated of the identity theft, in order to lock accounts and block cards
- It is better to cross-check the last 5-10 transactions to rule out financial fraud with the stolen identity
#2 Reporting identity theft for placing fraud alert
Placing fraud alert is a service offered by credit rating companies when individuals and businesses approach them under the threat of an upcoming financial fraud:
- Reporting identity theft to credit rating companies like Equifax and Experian will stem further damages of identity crimes.
- Placing a fraud alert will indicate that the person’s identity has been stolen and this warns debtors and creditors to be vigilant in transacting financially with the person, who may be misrepresented by fraudsters.
- The fraud alert may be placed for short-term, if the identity theft can be ruled out soon. If not, it is advisable to go in for placing long-term fraud alert when reporting identity theft.
# 3 Reporting identity theft with copious and holistic information
On reporting identity fraud, various agencies are at work, like, financial institutions, digital forensic team, ethical hackers, the police as well as cybercrime task forces. It is essential that the victim produces the following details:
- Proof of his identity and address, since fake crime reports are on the rise
- Nature of identity theft and whether all or any of personal identification information are in jeopardy
- Copies of complaints made to email and internet service providers
- Record of financial transactions, email threads, attachments, responses to phishing emails, physical documents, if any received by post
- An affidavit executed by the victim as to the occurrence of identity theft and an estimate of possible financial damages, may be required, in some cases
#4 Reporting identity theft to the right authority under the right jurisdiction
Reporting online identity theft can be exhausting. To avoid last minute frustration of running from pillar to post, there are many facilitating agencies like the Action Fraud, the IC3, the Identity Theft Resource center, to mention a few that can handhold victims by:
- Providing useful connecting links to the right legal body
- Ensuring compliant under the right jurisdiction, in accordance to area of identity theft
- Ensuring darting of letters in prescribed format, with necessary fees if any, to institute criminal proceedings.
