Someone Stole My Wallet. What Do I Do?

Losing your wallet can be a highly unsettling experience, immediately triggering concerns about financial security and personal privacy. The sudden absence of identification, credit cards, and other important documents can feel overwhelming. This guide provides a clear path forward, helping you navigate the necessary actions to protect yourself after a wallet theft.

Immediate Financial Protection

Swift action is needed to secure financial accounts after a wallet theft. Your first priority involves contacting all credit card and debit card issuers to report the theft. Many financial institutions offer 24/7 fraud hotlines, allowing for immediate reporting and prevention of unauthorized transactions. Inquiring about a temporary freeze on your credit card can halt new charges while you assess the situation, differing from a permanent cancellation which fully closes the account and issues a new card.

Act quickly to review recent transactions on all linked accounts for any suspicious activity. This can often be done through online banking or mobile apps. For debit cards and bank accounts, prompt notification to your bank is just as important, as this enables them to monitor for fraudulent withdrawals or transfers. Be prepared to provide details such as your account number, the last known transaction, and the approximate time of the theft to assist in their investigation.

Protecting Your Identity

A stolen wallet poses a significant risk to your personal identity. If your Social Security card was in the stolen wallet, or if you suspect your Social Security number (SSN) has been compromised, contact the Social Security Administration (SSA) directly. While a physical card is not always required for many transactions, the SSN itself is a gateway to various forms of identity fraud.

A crucial step involves placing a fraud alert with the three major credit bureaus: Equifax, Experian, and TransUnion. An initial fraud alert requires businesses to verify your identity before opening new credit in your name and lasts for one year. You only need to contact one of these bureaus, and that bureau is then required to notify the other two.

For enhanced security, especially if you are not planning to apply for new credit soon, consider a credit freeze (also known as a security freeze). A credit freeze restricts access to your credit report, making it difficult for identity thieves to open new accounts. Unlike a fraud alert, you must contact each of the three credit bureaus individually to place a credit freeze.

Should your driver’s license or state identification card be stolen, contact your state’s Department of Motor Vehicles (DMV) or equivalent agency. This alerts them to the theft and helps prevent someone from using your stolen ID for illicit purposes. Regularly monitoring your financial statements and credit reports for any unusual activity in the coming months is important, as identity theft can sometimes manifest long after the initial incident.

Reporting the Theft

After securing your financial and personal identity, make official reports of the theft. File a police report with your local law enforcement agency to create an official record. This report can be necessary for disputing fraudulent charges, for insurance claims, or as supporting documentation when dealing with financial institutions and government agencies. When filing, provide a detailed account of the theft and a list of all items that were in your wallet.

Report identity theft to the Federal Trade Commission (FTC) through IdentityTheft.gov. The FTC provides a centralized resource and generates an Identity Theft Report and a personalized recovery plan. The FTC report serves as official proof of identity theft, instrumental in resolving fraudulent accounts and ensuring you are not responsible for debts incurred by the thief.

Replacing Lost Documents

After protective measures and official reports, focus on replacing stolen documents. For your driver’s license or state ID, contact your state’s Department of Motor Vehicles (DMV) or equivalent agency. The process often involves providing proof of identity, your Social Security number, and sometimes proof of residency. Many states offer options for online replacement, but in-person visits might be necessary, especially if you need a new photograph or are upgrading to a REAL ID. Some jurisdictions may waive replacement fees if you provide a police report detailing the theft.

Replace your Social Security card through the Social Security Administration (SSA). You can apply for a replacement online, by mail, or in person at an SSA office. You will typically need to provide original or certified documents proving your U.S. citizenship, age, and identity, such as a birth certificate or U.S. passport, and a driver’s license or state ID. After submitting the required documents, it generally takes about 10 to 14 days to receive your new card by mail. Remember to also contact your health insurance provider for a replacement health insurance card and your state’s motor vehicle department for a new vehicle registration, if those items were also lost.