Identity theft is on the rise, impacting 20% of Australians in just the past 12 months - 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.

Disclaimer: The information contained in this article is general in nature and does not take into account your personal objectives, financial situation or needs. Therefore, you should consider whether the information is appropriate to your circumstance before acting on it, and where appropriate, seek professional advice from a finance professional such as an adviser.