In a previous article, we discussed how a fraud alert can help consumers protect their identity. While this is a useful tool for someone who suspects their information may have been compromised, an extended fraud alert is specifically designed to help protect people who have had their identity stolen and completed an FTC identity theft report or filed a police report.
Unlike a regular fraud alert, which is active for one year, an extended fraud alert is active for longer – helping to ensure that your credit remains under close scrutiny for seven years. Additionally, an extended fraud alert entitles you to two free credit report from each of the three major credit bureaus (Equifax, Experian, and TransUnion) each year.
“Experiencing identity theft can be very stressful and you are not alone,” said Liz Hacquebord, senior vice president and director of financial fraud analysis at Middlesex Savings Bank. “According to identitytheft.org, there is a case of identity theft happening every 22 seconds. Taking just a few minutes to place an extended fraud alert may stop fraudsters in their tracks.”
With an extended fraud alert in place, lenders and creditors are required to take additional precautions when processing credit applications under your name. This will likely involve contacting you directly to confirm your identity.
Similar to the process of placing a regular fraud alert, you can activate an extended fraud alert by contacting one of the three major credit reporting bureaus: The bureau you choose to contact is required to notify the other two agencies about the extended fraud alert. Once the alert is in place, you will receive a confirmation letter and can be assured that your credit report will be under close watch for seven years.
Remember, as your local bank we are here to help you. If you suspect you have been the victim of identity theft, or if you would simply like more information, contact the team at Middlesex Savings Bank.
Unlike a regular fraud alert, which is active for one year, an extended fraud alert is active for longer – helping to ensure that your credit remains under close scrutiny for seven years. Additionally, an extended fraud alert entitles you to two free credit report from each of the three major credit bureaus (Equifax, Experian, and TransUnion) each year.
“Experiencing identity theft can be very stressful and you are not alone,” said Liz Hacquebord, senior vice president and director of financial fraud analysis at Middlesex Savings Bank. “According to identitytheft.org, there is a case of identity theft happening every 22 seconds. Taking just a few minutes to place an extended fraud alert may stop fraudsters in their tracks.”
With an extended fraud alert in place, lenders and creditors are required to take additional precautions when processing credit applications under your name. This will likely involve contacting you directly to confirm your identity.
Similar to the process of placing a regular fraud alert, you can activate an extended fraud alert by contacting one of the three major credit reporting bureaus: The bureau you choose to contact is required to notify the other two agencies about the extended fraud alert. Once the alert is in place, you will receive a confirmation letter and can be assured that your credit report will be under close watch for seven years.
Remember, as your local bank we are here to help you. If you suspect you have been the victim of identity theft, or if you would simply like more information, contact the team at Middlesex Savings Bank.
"Experiencing identity theft can be very stressful and you are not alone, According to identitytheft.org, there is a case of identity theft happening every 22 seconds. Taking just a few minutes to place an extended fraud alert may stop fraudsters in their tracks.”
Liz Hacquebord, senior vice president and director of financial fraud analysis at Middlesex Savings Bank