In the event of an identity compromise, rapid containment is paramount. Execute the following protocol:
Immediately contact the fraud departments of all affected banks, credit card companies, or lenders. Close compromised accounts, dispute fraudulent transactions, reset login credentials, and enforce hardware-based MFA.
Contact the bureaus to freeze your credit files if you have not already done so. The agency you contact is required by law to notify the other bureaus, but you should manually verify each freeze. Contact ChexSystems to place a security freeze on your deposit account history. ChexSystems is a specialty consumer reporting agency that tracks deposit history (such as checking/savings closures, bounced checks, etc.) and is used by banks to screen new applicants.
File Form 14039, “Identity Theft Affidavit” through the IRS Identity Theft Central portal to report the compromise and request an IP PIN. Additionally, submit a formal request to request copies of the fraudulent returns filed in your name.
Report the identity theft to the FTC through their website at IdentityTheft.gov or by calling 1-877-438-4338 to generate an FTC Identity Theft Report and establish a recovery plan.
Contact local law enforcement and provide them with all details. The combination of the FTC report and the police report constitutes an official Identity Theft Report, providing critical statutory protections under the Fair Credit Reporting Act (FCRA), including the right to block fraudulent information from appearing on your credit reports and to cease collection actions on fraudulent debt.
Contact CoreLogic Credco at Credco Consumer Assistance to freeze downstream credit data transmission, which prevents resellers from providing compromised files to mortgage lenders.
Close all fraudulent accounts opened in your name. In all correspondence disputing charges with creditors, send copies of the FTC Identity Theft Report and the police report.
Once the immediate issue is resolved, continue to monitor your credit reports regularly. Keeping yourself informed will allow you to detect any recurrence of theft and act swiftly.