What to Do If You Suspect Fraud 

Discovering that you may have fallen victim to fraud can be a distressing experience. However, it’s essential to take immediate action to mitigate the impact and protect yourself from further harm. Remember, you are not alone – we are here to support you every step of the way. 


  1. Stay Calm and Act Quickly:

If you suspect fraud or have become a victim of a scam, it’s crucial to remain calm and act swiftly. Take the following steps to protect yourself: 

  • Contact your financial institution: Notify your bank or credit card company immediately about the suspected fraud. They can guide you through the necessary steps and help secure your accounts. 
  • Change passwords and PINs: If you suspect that your personal information has been compromised, change passwords and PINs for all your online accounts, including banking, email, and social media. 
  • Place a fraud alert or credit freeze: Consider placing a fraud alert or credit freeze with the credit bureaus to prevent further unauthorized activity. 


  1. Document and Report the Fraud:

Documenting and reporting the fraud is essential for your protection and for assisting authorities in their investigations. Follow these guidelines: 

  • Keep records: Gather all relevant documents, such as emails, receipts, bank statements, or any other evidence related to the fraud. These records will be valuable when reporting the incident. 
  • Report the fraud: Contact your local law enforcement agency and file a police report. Provide them with all the necessary information and any evidence you have gathered. 
  • Report to the relevant organizations: Inform the appropriate organizations, such as the Federal Trade Commission (FTC) or the Internet Crime Complaint Center (IC3), about the fraud. They can provide guidance and help track down the perpetrators. 


  1. Monitor and Review Your Accounts:

Continuously monitoring and reviewing your financial accounts is crucial after experiencing fraud. Take the following steps to protect yourself: 

  • Review account statements: Carefully review your bank statements, credit card bills, and other financial statements for any unauthorized transactions. Report any suspicious activity to your financial institution promptly. 
  • Monitor credit reports: Regularly check your credit reports for any unusual or unauthorized activity. Look for unfamiliar accounts or inquiries that you did not initiate. 


  1. Educate Yourself and Seek Support:

Empower yourself with knowledge and seek support during the aftermath of fraud. Consider the following: 

  • Stay informed: Educate yourself about the latest scams and fraud techniques to enhance your awareness and prevention strategies. 
  • Utilize helpful resources: File complaints with relevant authorities such as the Federal Trade Commission (FTC), Internet Crime Complaint Center, and your state Attorney General. Contact the Social Security Administration’s Fraud Hotline if your Social Security number has been used fraudulently. Additional resources like IdentityTheft.gov, Identity Theft Resource Center, and the U.S. Postal Inspection Service can provide valuable information and assistance. 


Discovering suspected fraud can be a stressful and unsettling experience, but taking immediate action is crucial. By staying calm, acting quickly, documenting and reporting the fraud, monitoring your accounts, and seeking support, you can minimize the impact and protect yourself from further harm. Remember, at Flanagan State Bank, we are here to support you throughout the process. Together, we can overcome the challenges, recover, and rebuild your financial security. 


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