What to Do When You Are a Victim of Identity Theft

How it happened may be a mystery, but what you do know is that it happened – your personal information was stolen and used to apply for loans, open accounts, or file taxes without your authorization.  Now what?

For victims, having their identity stolen can be devastating.  There’s confusion, anger, embarrassment and a list of other emotions that may come to the surface at learning your valuable information has been taken.  According to Javelin Strategy & Research’s 2015 Identity Fraud Study, approximately 13 million Americans were victims of ID theft in 2014.  And, while that number has dropped from the prior year’s total, the figure is still alarming.  During a time that can feel overwhelming for those personally affected, it is important to act quickly and have direction when starting the recovery process.

The Federal Trade Commission’s website provides resources on how to protect your identity and report identity theft, including Identity Theft videos and online or printable checklists to use if you are a victim.  Even if you have not had your identity stolen, be proactive and read through the FTC’s checklist to build your understanding of how to handle such claims.  Or, if you know someone who could benefit from this information, pass that knowledge onto them.

Below, highlights the first four steps the FTC recommends taking right away:

  1. Call the companies where you know the fraud occurred.
  2. Place a fraud alert and get your credit report.
  3. Report identity theft to the FTC.
  4. File a report with your local police department.

In addition to reporting identity theft to the FTC and police department, file an SSA Fraud Report with the Social Security Administration by calling their hotline at 800-269-0271. 

Once the initial steps have been checked off, continue to check off items as applicable under “What to Do Next” and “Other Steps.”  Utilize the FTC’s free resources, such as sample letters to help with any additional notifications.

What to Do about Your Existing Logix Accounts:

  1. Call our Contact Center at 800-328-5328 or visit a local branch to report that you are a victim of ID theft.
  2. Request that a verbal password be placed on your account. This will safeguard your account in the event that a fraudster calls trying to access your account, using your stolen personal information.  This tip is also strongly recommended as a preventative measure, even if you are not a victim.
  3. Consider changing your User ID and Password for your online banking accounts, especially if you use the same User ID and Password for multiple accounts.

Ways to Stay Ahead of the Game

While there may not be foolproof options of preventing ID Theft, there are ways to protect your information and alert you at the first sign of a potential threat.  Staying informed is one of those ways.

Visit the Fraud and ID Theft Prevention section of our website.  In there, you will find additional controls to put in place to protect your information.  We have showcased our Card Manager app before – it is a great tool to keep up on your debit and credit card activity; and our recent blog post on Financial Schemes and Scams provides information on the popular scams we see and how to tell if you are being scammed.  Lastly, have you seen our Identity Theft Protection Services yet?  Based on a plan and pricing of your choosing, you will receive credit monitoring, expense reimbursement in the event you are a victim of ID Theft, and more.  Check it out!

Meet the blogger

Kayleen Kavanagh

Kayleen Kavanagh

Kay started with Logix in early 2009 and has held a few different member service roles. She enjoys sharing her positive learning experiences with hopes that we can all continue down the path of smarter banking.