How to Help a Cardholder Who Suspects Stolen Identity
What is identity theft?
Identity theft happens when someone uses a cardholder’s personal or financial information without permission to commit fraud. This could involve using their name, card details, or other personal information for unauthorized purchases or opening credit accounts.
How can a cardholder know if their identity has been stolen?
If a cardholder suspects their identity has been stolen, here are the signs you can help them look for:
- Unfamiliar transactions on their account.
- Notifications or bills for accounts or services they didn’t open.
- Being unexpectedly denied for credit.
- Receiving goods or services they didn’t order.
Encourage them to report any of these signs to you immediately.
What should a cardholder do if they suspect their identity has been stolen?
Guide your cardholder to take these steps as soon as they suspect identity theft:
- Report the issue: Direct the cardholder to contact your support team to report suspected identity theft. Your team can then escalate this to us for further action.
- Suspend the card: Assist the cardholder in blocking or suspending their card through the app or portal to prevent further unauthorized activity.
- Change passwords: Advise the cardholder to change the passwords for their related accounts, especially financial and email accounts, to prevent further access.
- Review transactions: Help them review recent transactions and identify any unauthorized or suspicious activity.
Should the cardholder contact other institutions?
Yes, advise your cardholder to also:
- Notify their bank or other financial institutions to make them aware of the suspected identity theft.
- Contact national credit reporting agencies to place a fraud alert or freeze on their credit report, which can prevent new accounts from being opened in their name.
Next steps
If the cardholder confirms there are fraudulent transactions, you will need to contact us immediately with the following transaction details:
- Date of the transaction(s)
- Transaction(s) amount
- Reference number(s)
- Merchant name(s)
Once this information is provided, we will block the card and start investigating the transaction.
How can the cardholder protect themselves from identity theft in the future?
Offer the following advice to your cardholder to help protect their identity in the future:
- Use strong, unique passwords for online accounts and change them regularly.
- Avoid sharing personal or financial information through suspicious emails or links (phishing).
- Regularly monitor their account and credit report for any unusual activity.
How can a cardholder request a new card after reporting identity theft?
Once the investigation is complete and the cardholder’s account is secure, you can assist them in requesting a new card through your app or online portal.