Your wallet contains many personal items that can be used to steal your identity if lost or stolen. You should minimize what you carry and only keep essential items like a driver's license, credit card, and health card. If your wallet is lost or stolen, quickly contact credit bureaus, creditors, and government agencies to report the loss and change passwords. Filing a police report can help prove identity theft and aid in recovering identification documents. Acting immediately limits damage and secures your personal information and finances.