Fraud Alert

A fraud alert is a security measure initiated by a consumer to alert financial institutions and credit bureaus of potential fraudulent activity on their accounts or identity theft. It serves as a precautionary step to protect one’s financial well-being and personal information.

When a fraud alert is placed, the consumer’s credit report is flagged, indicating that potential creditors should take extra care to verify the identity of anyone seeking credit in that individual’s name. This prompts the institutions to contact the consumer before approving any credit applications, ensuring that the individual is involved in the transaction. A fraud alert can be temporary or permanent, and it helps in deterring fraudsters, minimizing the risk of unauthorized use of personal data, and mitigating the financial impact of fraudulent activities.

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