Identity Theft: Credit Card Fraud

Identity theft is a scenario that many dread happening to them. Once your identity is stolen, it can be a nightmare to get it back. If someone steals your credit card, it is possible for damage to be done before you even realize that your card is missing. This can damage your credit, your savings, and even your reputation with your bank or place of employment.

Prevention is the best defense against credit card fraud. For instance, remember to avoid any on-line sales or stores you feel uneasy about – if it does not feel safe, you are probably right. Second, if you must make an on-line purchase, learn to recognize the scams from the authentic websites. If a website is verified, you will find an authenticity seal somewhere on the page proving the website is trustworthy. You can also message customer support to ask any questions you might have. If they do not return your message within twenty-four hours, it is probably a scam.

If in the end there is nothing you can do about preventing your credit card from being stolen, you will need to react quickly in order to salvage your credit and your future.

First, you want to immediately notify your bank to what has transpired, and verify the appropriate actions to take to prevent yourself from being liable for the charges. Your credit is also in jeopardy, and to protect it you should contact the social security administration: (http://www.ssa.gov/oig/guidelin.htm).

Contact the FTC (Federal Trade Commission) to report your identity being stolen: http://www.ftc.gov

You might also wish to contact the IRS and pay close attention to any charges that suddenly appear on your account. The IRS can help protect you, but you must let them know what has transpired and follow the appropriate instructions: http://www.irs.gov/individuals/article/0,,id=136412,00.html

Entry Filed under: identity theft