Act immediately if you spot fraud on your account

If you see charges you didn't make, a new account opened in your name, or credit inquiries you didn't authorize, contact your bank or credit card company right now — not tomorrow. Most banks have fraud departments that answer 24/7. Tell them exactly what you see, and they will freeze the account or card within minutes. The sooner you report it, the sooner they stop the bleeding and start investigating.

Your bank will likely cancel your current card and mail a replacement within 5 to 10 business days. If you need access to money immediately, ask about a temporary card or emergency cash advance. Write down the name and direct phone number of the fraud investigator assigned to your case — you will need it.

Do not assume the fraud will stop on its own or that the bank will catch everything. You are your own best defense. Check your statements weekly for the next three months, and set up account alerts so your bank texts or emails you about any transaction over a certain amount.

Key Takeaways

  • Contact your bank or credit card company immediately when you spot unauthorized charges — most fraud departments work around the clock and can freeze your account in minutes.
  • File a report with the Federal Trade Commission at IdentityTheft.gov, which creates an official record and gives you a recovery plan specific to your situation.
  • Place a fraud alert with the three major credit bureaus (Equifax, Experian, TransUnion) to make it harder for a thief to open new accounts in your name.
  • Request your credit reports from AnnualCreditReport.com and look for accounts or inquiries you don't recognize, then dispute them in writing with the bureau.
  • If your Social Security number was stolen, monitor your tax account at IRS.gov and consider a credit freeze if the theft is serious.

Report the theft to the Federal Trade Commission

The FTC runs IdentityTheft.gov, a free tool where you report identity theft and get a personalized recovery plan. You do not need a police report to use it. When you report through the FTC site, you create an official record that you can show to creditors, banks, and credit bureaus — it proves you reported the theft and did not simply ignore bills.

The FTC's recovery plan will tell you which credit bureaus to contact, what documents to gather, and which companies are most likely to have fraudulent accounts in your name based on what was stolen. It also generates a summary letter you can send to creditors and bureaus as proof of the theft.

The FTC does not investigate individual cases, but the data you provide helps them track fraud patterns and go after large-scale theft rings. Your report stays in their system and may be useful if the same thief targets someone else.

Place a fraud alert and consider a credit freeze

A fraud alert tells the three major credit bureaus — Equifax, Experian, and TransUnion — to flag your file. When a thief tries to open a credit card or loan in your name, the lender has to call you to verify it is really you before approving it. You place a fraud alert by calling one bureau; they notify the other two automatically. The alert lasts one year and is free.

A credit freeze is stronger. It locks your credit file so that no one — not even you — can open a new account without unfreezing it first. If you freeze your credit, you will need to unfreeze it temporarily when you actually want to apply for a loan or credit card. Freezes are free in all 50 states and last until you remove them. A freeze is worth doing if the theft involved your Social Security number or if someone opened accounts in your name.

You can place a fraud alert online, by phone, or by mail with any of the three bureaus. Equifax, Experian, and TransUnion all have dedicated fraud alert phone lines and websites. Start with whichever bureau is easiest for you to reach — they coordinate with each other.

Check your credit reports for accounts you don't recognize

Go to AnnualCreditReport.com and request your credit reports from all three bureaus. This is the only official site authorized by the federal government, and the reports are free. You are may have access to to one free report from each bureau every 12 months. Do not use a third-party site that charges you or asks for your credit card number.

When your reports arrive, look for accounts you did not open, hard inquiries from lenders you did not contact, and addresses that are not yours. Write down every fraudulent item with the account number, the date it appeared, and the amount owed. Then dispute each one in writing with the credit bureau that reported it. Include a copy of your FTC report summary as proof of the theft.

The bureau has 30 days to investigate your dispute. If they cannot verify the account is real, they must remove it from your report. If the account stays on your report after your dispute, you can add a statement to your file explaining that it is fraudulent.

Dispute fraudulent charges with your bank and creditors

If a thief opened a credit card or loan account in your name, contact that creditor in writing and tell them the account is fraudulent. Include a copy of your FTC report and a police report if you filed one. Send it certified mail with return receipt so you have proof they received it.

For credit card charges, your bank has a dispute process. Call the number on the back of your card and ask to dispute the unauthorized transaction. The bank will likely issue a temporary credit while they investigate, and most card issuers have zero liability for fraud — meaning you will not owe the fraudulent charges. Keep records of every call, including the date, time, and name of the person you spoke with.

If a thief took out a loan or opened a utility account in your name, the process is slower. Send a written dispute to the company's fraud department, and follow up every 30 days if you do not hear back. Some companies will close the account and mark it as fraudulent; others will require a police report before they act.

File a police report if the theft is serious

You do not need a police report to recover from identity theft, but filing one creates an official record that can help you with creditors and credit bureaus. If a thief opened multiple accounts, took out a loan, or stole your Social Security number, a police report strengthens your case.

Go to your local police department's non-emergency line or website and file a report. Tell them exactly what was stolen and what accounts were opened. Ask for a copy of the report number — you will need it when you dispute fraudulent accounts. Some police departments let you file online; others require you to come in person.

If the theft happened online or involved someone in another state, you can also file a report with the FBI's Internet Crime Complaint Center at IC3.gov. This does not replace a local police report, but it creates a federal record if the theft is part of a larger scheme.

Monitor your accounts and credit going forward

For at least a year after the theft, check your bank and credit card statements every week. Set up text or email alerts for any transaction over a certain amount — even $1 if you want to be cautious. Many banks let you set these alerts for free through their app or website.

Check your credit reports again six months after the theft and once more at the 12-month mark. You are may have access to to one free report per bureau per year, so you can stagger them — pull one report every four months from a different bureau and keep an eye on your file throughout the year.

If your Social Security number was stolen, monitor your tax account at IRS.gov by creating an account and checking it before you file your taxes. A thief might try to file a false return using your number to claim a refund. The IRS also has an Identity Protection PIN program that you can request if your number was compromised.

Frequently Asked Questions

How long does it take to recover from identity theft?

Simple cases — a stolen credit card or one fraudulent account — may resolve in 30 to 60 days. Serious cases involving multiple accounts, loans, or a stolen Social Security number can take months or years. The FTC's recovery plan will give you a timeline based on what was stolen. Keep records of every dispute and follow-up so you can prove you acted quickly if a creditor tries to hold you responsible for fraudulent debt.

Will I have to pay for fraudulent charges?

No. Credit card fraud is covered by federal law — you are not liable for unauthorized charges. For debit cards, your liability depends on how quickly you report the theft: if you report it within two business days, you lose at most $50; after that, you could lose up to $500. For accounts opened in your name (loans, utilities), you are not responsible if you can prove the account is fraudulent with your FTC report and police report.

What if the thief is someone I know?

Follow the same steps: report to your bank, file with the FTC, place a fraud alert, and dispute fraudulent accounts. You can also file a police report naming the person if you know who they are. Identity theft is a crime even when the thief is a family member or friend. Do not try to handle it privately — creditors and credit bureaus need the official reports to remove fraudulent accounts from your record.

Can I freeze my credit if I have not been a victim of theft yet?

Yes. A credit freeze is free and does not hurt your credit score. Many people freeze their credit as a preventive measure, especially if they have experienced a data breach or feel their personal information is at risk. You can unfreeze it temporarily whenever you need to apply for credit, so there is no downside to doing it now.

What should I do if I get a bill for an account I did not open?

Do not pay it. Contact the creditor immediately and tell them the account is fraudulent. Send a written dispute with a copy of your FTC report. If you pay even one dollar on a fraudulent account, it can be harder to prove later that you did not authorize it. Keep the bill as evidence and document every call you make to the creditor.