Identity Theft Dictionary | New York City Lawyers

Credit Report: Your credit payment history is recorded in a file or report. These files or reports are maintained and sold by consumer reporting agencies (CRAs). One type of CRA is commonly known as a credit bureau. You have a credit record on file at a credit bureau if you have ever applied for a credit or charge account, a personal loan, insurance or a job. Your credit record contains information about your income, debts and credit payment history. It also indicates whether you have been sued, arrested or have filed for bankruptcy.
Credit Reporting Agency: Equifax, Experien, and TransUnion. A credit rating agency is a company that rates the ability of a person or company to pay back a loan. The rating given by a credit rating agency is important because it affects the perceived risk element incorporated into interest rates that are applied to loans.
Dumpster Diving: The practice of individuals searching your garbage for personal information and using that information to steal your identity and commit fraud in your name.
Equifax: One of the three major Credit Reporting Agencies. Their contact information is: 1-800-525-6285 www.equifax.com P.O. Box 740241 Atlanta, Georgia 30374-0241
Experien: One of the three major Credit Reporting Agencies. Their contact information is: 1-888-397-3742 www.experian.com P.O. Box 9352 Allen, Texas 75013
Extended Fraud Alert: According to the Federal Trade Commission, you can have an extended alert placed on your credit report if you've been a victim of Identity Theft and you provide the Credit Reporting Agency with an “Identity Theft Report.” When you make such a report, you are entitled to two free credit reports within 12 months from each of the Credit Reporting Agencies. Also, the CRAs must remove your name from marketing lists for pre-screened offers for five years unless you ask them to put your name back on the list before that time.
Federal Trade Commission: The federal agency responsible for enforcing the Truth in Lending Act, of which the Consumer Leasing Act is part, among leasing companies, finance companies, lessors, and assignees not regulated by other federal agencies. The Federal Trade Commission also performs other functions related to its role of ensuring that the nation's markets function competitively; enforcing other statutes affecting consumer financial services; and enforcing the Federal Trade Commission Act, which prohibits unfair or deceptive acts or practices.
Fraud Alert: An alert that you can have put on your Credit Report by a Credit Reporting Agency (CRA) indicating that you have been a victim of Identity Theft. Contact the toll-free number of any of the three CRAs to place a fraud alert on your Credit Report. You only need to contact one the three Credit Reporting Agencies to place a Fraud Alert. The CRA you contact are required to contact the other two CRAs, which will then put a Fraud Alert on their reports as well.
FTC Fraud Complaint: A document that a victim of Identity Theft can file with the Federal Trade Commission. The complaint assists the FTC and law enforcement agencies to track down Identity Thieves. A complaint can be filed on-line at www.consumer.gov/idtheft
Identity Theft: Identity Theft occurs when an individual or group of persons uses your name, Social Security Number or other identifying information, without your authority, to commit fraud in your name and to use your personal information for their own means—including applying for Credit Cards, a Driver's License, a Car Loan, filing Income Taxes and even filing Bankruptcy in your name. Also known as Identity Fraud.
Identity Theft Report: A report made to each of the Credit Reporting Agencies reporting Identity Theft. According to the Federal Trade Commission, an Identity Theft Report has two parts. The first is a copy of the report you file with a local, state or federal law enforcement agency (e.g., the NYPD) reporting the Identity Theft. The second part depends on the Credit Reporting Agency, and what additional information the specific CRA needs to verify your identity.
Initial Fraud Alert: According to the Federal Trade Commission, an initial alert stays on your credit report for at least 90 days. You can ask a Credit Reporting Agency to put an initial fraud alert on your file if you suspect you have been or have been a victim of Identity Theft (e.g., your wallet has been stolen). When you place an Initial Fraud Alert, you are entitled to receive a free Credit Report from each of the CRAs.
IT Thieves: An individual or group of individuals who takes your personal information without your consent. These individuals can include store clerks, rogue agents working for companies or government agencies with access to your personal information, dumpster divers (see definition above).
Skimming: Process by which IT Thieves steal your credit or debit card numbers by capturing the information in a data storage device in. They may swipe your card for an actual purchase, or attach the device to an ATM machine where you may enter or swipe your card.
Transunion: One of the three major Credit Reporting Agencies. There contact information is: 1-800-680-7289 www.transunion.com Fraud Victim Assistance Division P.O. Box 6790 Fullerton, California 92834