Definition of «fraud alert»

A fraud alert is a notification issued by credit reporting agencies to consumers, informing them that their personal information has been compromised or there has been suspicious activity on their account. This alert puts potential lenders and other businesses on notice that they should take extra precautions before extending new credit in the consumer's name. The fraud alert is designed to protect consumers from identity theft by making it more difficult for criminals to open new accounts or make charges in the victim’s name.

Sentences with «fraud alert»

  • This is over and above the free reports you can order when you place fraud alerts on your three credit reports. (privacyrights.org)
  • You can place fraud alerts on your credit reports. (fromfrugaltofree.com)
  • If you place an initial, 90 - day fraud alert in your file at one credit bureau, that bureau should notify the other two bureaus. (humbledollar.com)
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