A fraud action plan can be utilized as a way to protect yourself against fraud. The growing number of fraudulent schemes and incidents has also made making action plans more popular. A good action plan can help protect you against fraud schemes and even help you put fraudsters to justice.

Like any good plan, developing a fraud action plan requires the gathering of the right information, preparation of documents and other important details. Of course, all these processes should be done efficiently and speedily. To give you some key ideas on how  to create your action plan, here are some tips:

Creating a Fraud Action Plan

  • Identify the type of fraud you wish to report. Identifying the type of fraud is the primary step to finding which appropriate government authorities or agencies can help address your concern. You have to note that although there are government agencies who accept all types of fraud report, there are also some who only take reports that are relevant to their department.
  • Once you already know the appropriate agencies to report to. Find out how these agencies can help you realize your goals in your action plan. And while you’re at it, you might as well check the details and documents that you need when filing a complaint with these agencies.
  • Check out other options that can help you expedite your fraud reporting process and include them in your action plan. In case you wish to report a time sensitive fraudulent scheme, having this information should be useful.
  • Aside from government fraud reporting websites, you may also include third party fraud information centers in your action plan. Some samples of third party websites include BigScammers.com and Better Business Bureau.
  • Informing companies or businesses related to the fraud must also be included in your action plan. In fact, if you want a scammer to immediately stop its operation, the fastest option would be to contact companies or websites that are being utilized by the scammer to reach their victims. Companies can automatically suspend the scammers account as they conduct an investigation based on your report or launch a disclaimer that will invalidate all the efforts of the scammer to mislead their target victims.
  • Remember to keep a copy of your report. Your report can be a useful reference in case additional relevant problems begin to surface after the fraud incident. This especially applicable in identity fraud cases, where fraudsters can assume your identity to illegally obtain access to your credit line and other financial services.

These are some of the basic tips you can use when creating a fraud action plan. Note that aside from having a fraud action plan after you become a victim of a fraud, you can also create a fraud action plan that can help you evade fraudulent schemes. This type of planning can also be useful, but may be harder to prepare since it may need constant updating due to the countless new schemes introduced in the market on a regular basis. Overall, creating a fraud action plan before and after a fraud is highly beneficial.