How to Report Fraud

 You go to check your bank account like you do every day, but this time something seems off. A few more clicks and you know something is wrong. You get a sinking feeling in your stomach as you realize that your account has been hacked and you’ve become a victim of fraud, and one question floats across your mind:

What do I do now?

It’s a crucial question, and we’ve got answers! Here’s what to do if you’ve fallen victim to fraud:

Immediate Steps

As soon as you discover the fraud, take these steps as quickly as you can:

• Document the fraud
  Collect all relevant information that you can, including emails, receipts, account statements, and any other documentation that can serve as evidence. To give yourself the best chance at a positive outcome, you will need to arm yourself with as much documentation and evidence as possible.
• Contact your financial institutions
  Notify your credit union or bank, credit card companies, and any other financial institutions about the fraud. Your institutions can help you once notified – they can freeze your accounts, issue new cards, and help prevent further unauthorized transactions.
• Change passwords
  Immediately change passwords for any online accounts that may have been compromised. If you have fallen into the bad habit of using one password (or a slight variation of the same password) for multiple accounts, take the opportunity to create strong, unique passwords for each account to prevent the hackers from getting into even more of your accounts.

Reporting Fraud to the Authorities

Once you’ve taken care of the immediate necessities, the next step is to report the fraud attack to the relevant authorities for additional help and protection. Here are the key organizations to contact:

1. 
   

   Federal Trade Commission (FTC)

   The FTC is the primary agency for reporting fraud in the United States. You can file a complaint online or call 1-877-FTC-HELP (1-877-382-4357).

2. 
   

   Local Law Enforcement

   File a report with your local police department. Provide them with all the evidence you have collected. Make sure you get the report number or a copy of the report in case any of your financial institutions require additional proof later.

3. 
   

   Internet Crime Complaint Center (IC3)

   For online fraud or cyber crime, report to the IC3, a partnership between the FBI and the National White Collar Crime Center. Reporting crimes here can help bring criminals to justice and help make the Internet safer for everyone. File a complaint here.

4. 
   

   State Consumer Protection Offices

   Many states have consumer protection offices that handle investigations into scams and fraud as well as complaints against businesses.

5. 
   

   Credit Reporting Agencies

   Contact the major credit bureaus (Equifax, Experian and TransUnion) to place a fraud alert on your credit report. A fraud alert will make it more difficult for someone to open a new line of credit in your name as businesses will need to verify your identity before issuing new credit in your name. Fraud alerts last for one year and can be renewed after the year has passed.

Specialized Reporting for Specific Types of Fraud

Depending on the type of fraud, you may need to report to additional specialized agencies:

1.  

   Identity Theft

   Report identity theft to the FTC at IdentityTheft.gov.

2. Securities Fraud

   If you’re a victim of investment fraud, report it to the Securities and Exchange Commission (SEC) at SEC.gov.

3. Tax Fraud

   For tax-related identity theft or fraud, contact the Internal Revenue Service (IRS) at IRS.gov or at 1-800-908-4490.

4. Mail Fraud

   If fraud was conducted using the U.S. Postal Service, report it to the U.S. Postal Inspection Service at USPIS.gov.

How to Protect Yourself From Future Fraud

There are many things that you can do to protect yourself from potential fraud. First of all, monitor your checking account statements, credit bills, and credit reports regularly for sketchy activity – be vigilant so you can catch any possible fraud as early as possible. Also, make sure that you are using strong, unique passwords for all of your accounts. Simple passwords can be guessed in mere seconds, while more complex passwords can take many years to crack. Never share personal information with an unverified contact, including any one-time passwords or security codes sent to your devices. Finally, and perhaps most importantly, keep yourself educated about scams. Scammers are constantly evolving and coming up with new schemes, so it’s important to stay on top of all the latest information.