Identity theft is an increasingly common crime, but that doesn't make it any less upsetting. According to the FTC, Americans lost $8.8 billion to fraud and identity theft last year. Knowing someone has used your personal information to steal money or create accounts in your name is unsettling. The good news is that in many cases, you'll be able to recover your money and protect yourself against future threats.
I've had my card cloned on several occasions. You'll often find the bank notices the problem before you do and freezes your card as a precaution. But that's not always the case, and identity theft can go much further than spending money on a card.
The sooner you contact your bank or card issuer, the better chance you have of getting your money back. According to the Consumer Financial Protection Bureau, the timeframe and amounts you can recover depend on what went wrong.