Price - who recently ended her relationship with model Leandro Penna - had credit cards cancelled and £14,000 taken from one of her bank accounts, The Mirror reports.
The paper quotes Price as saying: "It is just terrifying that this could have been allowed to happen.
"It's really horrible. All I know is that police have footage of these people pretending to be me."
Friends said that the businesswoman and former glamour model was shopping in Brighton on Sunday when three of her credit cards were declined.
One told the paper that Price telephoned the bank and spoke to her branch manager, saying: "She was informed [that] they had received a call from a woman posing as her 24 hours previously who had cancelled the cards.
"Katie then asked what the balance of one of her accounts was and was informed it was around £14,000 less than the amount she was expecting."
The source added that the impostor had attempted to open other bank accounts using her credit card details and that unspecified items had been ordered to a delivery address in the north of the country.
Lincolnshire Police has been passed CCTV footage of a woman wearing a long blonde wig and sunglasses attempting to withdraw cash. The force is also working with HSBC's fraud department to investigate the matter.
Price has also confirmed that her bank has refunded the missing money.
> Katie Price: 'My marriage to Peter Andre should have lasted'