You’ve had you’re wallet or purse swiped. Now what?
There a number of steps we should all take (depending what was actually in our stolen / lost wallet) to ensure that we don’t become a victim of fraud or identity theft after our wallet is stolen.
Steps to Take If Your Wallet or Purse is Stolen…
1. Make a list of everything within your wallet.
Write down from memory exactly which credit/debit cards, IDs, membership cards, etc. were inside your wallet when it was lost or stolen.
2. Cancel all your cards.
Call all the issuing banks and cancel all your debit and credit cards. It’s a real pain but it’s a must. If you don’t report it immediately (within 24hrs) your bank may find you to have contravened your banking Terms and Conditions and they may not foot the bill should there be fraud on your accounts.
3. Protect yourself from identity theft.
If you have identified from step number 1 that you have had a photo ID stolen (driver’s license, passport, etc.) then you’ll be at risk of identity theft.
- File a police report - you might not think that the police will want to bother with your stolen wallet, and they may not, but it’s an important step for you in starting to protect your identity (and will be required if you intend to make an insurance claim). You can file a report of identity theft here > www.reporting.actionfraud.police.uk/login or by calling Action Fraud on 0300 123 2040.
- Setup Credit Monitoring – if you’ve already seen fraudulent transactions on a bank statement, it might be worth implementing a fraud alert and monitoring service that will keep a beady eye on your credit file on your behalf. It costs £20-40/ year from the credit reference agencies (Equifax, Callcredit, Experian, ClearScore or Noddle). If you can’t justify the expense, you can always check your report manually (for free) to ensure that no one has attempted to try and take credit out in your name (e.g. a couple of weeks after your wallet/purse was stolen or lost). Doing it manually is for obvious reasons, not as preferable as enrolling in the monitoring service but the option is there for those who want it.
- CIFAS Registration (optional) – I would only recommend this step if you have reason to believe the risk of financial fraud of identity theft is now high. Registering with CIFAS puts a flag against your name on the National Fraud Database (in the UK) and mandates special fraud checks before certain transactions can be made. It only costs £20 for a two-year membership and is a must- have if you’ve already been a victim.
- Replace Your Photo IDs. Report your ID card stolen and get a replacement sent out. For UK drivers licenses and passports see below links.
I hope this is useful. Got questions?
Get in contact 🙂
Founder of www.SimpleCyberLife.com. Cyber security expert, public speaker and entrepreneur.