Financial Identity Theft
What should I do if I find inaccurate information on my credit report?
Under the Fair Credit Reporting Act (FCRA), both the credit reporting agency and the creditor are responsible for correcting inaccurate or incomplete information in your report. To take advantage of all your rights under this law, contact the credit reporting agency and the creditor.
Inform the credit reporting agency, in writing, with the following information:
- Include copies (NOT originals) of documents that support your position.
- Provide your complete name, including previous names, and address.
- State the facts and explain why you are disputing the information, and request that it be removed or corrected.
- Enclose a copy of your credit report with the items in question circled.
- Send your letter by certified mail, “return receipt requested,” so you can document that the credit reporting agency received it.
- Keep copies of your dispute letter and enclosures.
What should I do if accounts have been opened without my knowledge?
If a new account has been established using your personal information, contact the financial institution or business to dispute the account and request closure. Sample letters of dispute may be obtained on the Federal Trade Commission’s web site at www.identitytheft.gov/Sample-Letters.
What should I do if my ATM/debit card was stolen?
- Contact your financial institution to report the theft immediately.
- Follow up your telephone call with a letter or e-mail.
- Your account should be monitored carefully.
- Report any transactions you did not make to the card issuer as soon as possible.
What should I do if my checks were stolen?
- Contact your financial institution to report the theft.
- File a police report with your local law enforcement agency.
Both should be done as soon as the theft is discovered to help protect you from liability for any fraudulent purchases.
What should I do if my credit card was stolen?
- Contact your credit card company to report theft and any transactions you did not make as soon as possible.
- Contact the three major reporting bureaus to place a fraud alert on your credit report.
- Personally monitor your account and/or hire a professional.
My bank account was compromised, how can I get the money back?
Contact your financial institution immediately if you suspect an unauthorized transaction from your account or for a lost/stolen debit card.
Follow the necessary steps put forth by your financial institutions fraud department to protect your account from future fraudulent activity.
Document all suspected fraudulent activity and request reimbursement from your financial institution.
What should I do if I believe I am a victim of identity theft, didn’t file a Michigan return but I received a Substitute Form 1099-G notice?
If you are a victim of identity theft and did not file a return with Michigan Department of Treasury but received a Substitute Form 1099-G, you may disregard the notice. Do not report the amount listed on the Substitute Form 1099-G on your federal return. No further action is required.