Steps to Take if You’re a Fraud Victim

Becoming a victim of fraud is terrifying and can happen to the most diligent and security savvy people as scammers continue to develop new ways of draining people’s hard-earned money out of their accounts. Protecting your financial security is our top priority, but we also want to arm you with the best methods and ways to respond if fraud happens to you.

Report the Fraud

Immediately report any fraud to various entities so they can investigate, assist you and protect others from falling prey to the same scam. Contact your financial institutions to dispute the charges and ask them to lock the account and issue a new debit card if necessary. Reach out to the three credit bureaus (Experian, Equifax, and Transunion) can add a temporary or long-term fraud alert on your file to prevent the opening of new lines of credit. You can also report the crime to local law enforcement and file a complaint to the Federal Trade Commission (FTC).

Review Your Accounts

Carefully look over your account statements and transactions to see exactly what was impacted. Keep note of any discrepancies and details that are part of the scam, such as the amount of money taken, how the transactions were processed, which accounts were compromised. Contact all financial companies associated with each of your accounts and cards impacted to let them know you’re a victim of fraud. 

Update Your Information

Make any necessary changes, such as resetting passwords and logins or closing accounts. Focus on any compromised accounts and accounts that are linked to your payment information, like your mobile banking app or online shopping sites.

Remember, anyone can become a victim of fraud, so remain calm and follow these steps. If you suspect you are a victim of identity theft or fraud or have questions on reporting suspicious activity on your accounts, give us a call immediately at 800.227.5328