AARP Fraud Alert: Lost Wallet? What Now?

We’ve all been there: you reach for your wallet and find nothing in it. The panic we feel at that moment is real, because our wallet can be a treasure trove for criminals who can then commit credit card fraud or identity theft. Most of the time, that feeling doesn’t last long, but sometimes the wallet really is gone. Here’s what to do if that happens to you.

First, cancel any debit or credit cards. By reporting the loss or theft as soon as possible, you may be able to avoid illegal charges. This is especially important for debit cards, which serve as access to your bank account.

Next, you should file a fraud alert. With your driver’s license in hand, identity thieves can do a lot of damage. You can ask the credit reporting agencies – Experian, TransUnion and Equifax – to place a fraud alert on your credit report. (Contact one of these agencies and the others will add the fraud alert as well.) A fraud alert lets creditors, lenders or anyone who looks at your credit report know that someone may be trying to apply for credit in your name.

If you believe your wallet has been stolen, call your local precinct to obtain a police report. While the police may not be able to recover your lost wallet, it is an important document to have on hand.

Fight fraud! If you can spot a fraud, you can stop it.

The AARP Fraud Watch Network is a free resource for everyone. Learn how to proactively identify fraud or get help if you’ve been a victim of a scam. Visit aarp.org/fraudwatchnetwork or call our dedicated helpline at 1-877-908-3360 to speak with a fraud specialist.

Need a fraud prevention speaker for your group? Click the link to fill out our online form or email [email protected].