Identity theft is on the rise, affecting almost 20% of Australians - yet many people aren't sure about what to do if they become a victim.

If your identity has been stolen, it's important to act fast. Because the sooner you take action, the earlier you can stop any future fraudulent activity and minimise the risk of financial loss.

Follow our six steps below on what to do next.

Are you ready to reduce your risk of identity theft?

Equifax has a range of services to help you monitor and protect your identity and credit profile. Compare our plans to find the best fit for your situation.