Identity theft is a crime under federal law, and most states also have laws making it illegal. Federal government websites often end in .gov or .mil. Submit your case to start resolving your legal issue. Having a police report filed is beneficial for many situations. Immediately, you can breathe. What is Consumer Banking | Consumer Banking Lawyer | LegalMatch Filing a report with a local police department; Alerting their banks, credit card companies, and other financial or government institutions; Requesting financial or other affected accounts be cancelled or closed; and. Federal law restricts your losses in credit card theft to $50 as long as you inform the bank or card company within 60 days of the issuance of the credit card statement. Depending on the specifics of your case, the amount you can sue for, and potentially receive, will vary. The list of permutations is endless. Step Two:Contact the fraud department of each of your creditors. Bankrate.com: 12 Steps for Victims of Identity Fraud, FDIC: Consumer Protection Topics - Cybersecurity. The staff was amazing, they treated me with the utmost respect and professionalism. A federal law known as Gramm-Leach-Bliley Act (GBLA) regulates how banks may handle consumer information. So, many of us might be looking for alternatives, like buying gifts locally or maybe from online marketplaces or sites you find through your social media accounts, online ads, or by searching Youve opened all your gifts, and now its time to open those post-holiday credit card statements. They fought harder then I had intercepted. It can take a significant amount of time to remove the reports of fraudulently obtained credit from your credit bureau report. However, you may have the option to file a civil lawsuit against the offender. Check with the company to determine if they will accept the affidavit. DoNotPay wants to help you understand the process of recovering from identity theft so that you are prepared to sue if possible. If a hacker gains access to it and uses it to purchase things, then this would be considered an act of identity theft. What Is the Bank's Liability If There Is Identity Theft? Communicated in many ways to make sure I understood. Keep a written record of every conversation you have with the fraud departments. Additionally, each state also has separate laws and procedures for filing identity theft lawsuits and related claims.