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#1050760 - 09/25/08 08:05 PM Credit Bureaus and Fraud Alerts/Credit Freezes
sunshinebanker Offline
100 Club
Joined: Mar 2006
Posts: 233
Do any of the credit bureaus provide reporting that would allow us compliance people to know if credit bureau reports run for our organization include fraud alerts/credit freezes/address discrepancies, etc. ? When I do the ID Theft audit, I would like to know which customer's files to pull to verify that the alert was documented according to our procedure.

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#1050771 - 09/25/08 08:14 PM Re: Credit Bureaus and Fraud Alerts/Credit Freezes sunshinebanker
C_Groat Offline
Joined: Mar 2006
Posts: 70
Salt Lake City, UT
I doubt the credit bureaus would be able to pull that type of info, especially without additional cost. You may be better to have your new account decision engine (depending what you use) to capture these flags and provide reporting. Within our system, we use Appro, and any new application with a fraud alert, credit freeze, mis-matched addresses is flagged for a analyst to review. Quality is also performed on a sample of these to ensure compliance with our procedures.

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#1051109 - 09/26/08 01:38 PM Re: Credit Bureaus and Fraud Alerts/Credit Freezes C_Groat
Maytagman Offline
Gold Star
Joined: Jun 2008
Posts: 285
Sunshine, I determined this by looking at a sample of documentation obtained during the opening of recently opened new accounts. The reports from Equifax included notations like "address discrepancy" and "initial fraud alert" on the first page of the report.
"It is natural to give a clear view of the world after accepting the idea that it must be clear." - Albert Camus

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