How FraudLock Works - Features
FREE Credit Report - Online
Becoming a member of FraudLock provides you with instant access to your on-line Credit Report, supplied by one of the UK’s leading Credit Reference Agencies.
It makes financial sense to know what is on your personal Credit Report at any time and it is the first place to check to ensure you are not already the victim of Identity Theft. Following a full and detailed analysis of the market, FraudLock has partnered with Equifax to provide your Credit Report giving you clear and concise information that will allow you to easily validate all of the data. If you have any questions regarding your Equifax Credit Report™, Equifax’s industry leading customer service centre will be able to answer them and guide you through the process of arranging any necessary amendments.
Free Credit Monitoring
Credit Monitoring provides you with alerts should there be any significant change to your Equifax Credit Report™ within seven days. If there aren’t any changes, you will receive a monthly confirmation that all is well, to give you the peace of mind that everything is in order.
Whilst it is important to carefully check your Equifax Credit Report™ when you first receive access, it’s not the sort of document that any of us want to have to check too often. The experts at Equifax will monitor your Credit Report on your behalf and simply let you know if there is anything that needs to be checked by you personally. You can choose the type of alert you wish to receive from E-mail according to your preference. If there aren’t any changes, you will receive a monthly confirmation that all is well, to give you the peace of mind that everything is in order.
FraudLock your Credit File. Pro-Active Protection & Maintenance
Stop the Fraudsters in their tracks!!As a member of FraudLock your Credit Files, with all three of the UK’s Credit Reference Agencies (Equifax, Experian & Callcredit), can be flagged to require new credit applications to involve an increased level of identity verification by the lender.
This process provides members of FraudLock with the most comprehensive ‘new line of credit’ identity fraud protection available in the UK market.This process is far more effective than the stand alone credit monitoring service offered by other Identity Fraud protection schemes as it stops the fraud before it happens, rather than alerting you after the fraudsters have obtained credit in your name.
The first sign that you are being targeted by a fraudster trying to obtain new credit in your name will be the phone call from a credit facility provider with whom you have not recently applied for credit.This process not only stops you from becoming a victim, but provides the opportunity for FraudLock to investigate the fraudulent application on your behalf.FraudLock employs private investigators who, with your permission, can carry out in depth investigations to track the fraudster and pursue a prosecution wherever possible.
Should you receive an enquiry from a credit facility provider when you have not recently applied for such credit, you should obtain as many details as possible from the credit provider, such as business name, address, contact name and telephone number.By providing this information to FraudLock as quickly as possible, the chances of successfully tracking the fraudster and securing a conviction are maximised.
NOTE – The application of a FraudLock to your personal credit files removes any credit applications in your name from automated processing.This can cause a small delay in the credit application process, but does provide you with industry leading protection from Identity Fraud .
FREE Credit Rating & Analysis
Understanding the way in which lenders utilise your credit history to consider you as a customer and to allocate the interest rate payable is key to making the most of your finances. As a member of FraudLock, you will receive a FREE Equifax Credit Rating™ annually with industry leading analysis highlighting areas where improvements can be made.
It is important to understand that universal Credit Ratings and Credit Blacklists do not exist in the UK. Every lender uses their own specific criteria to score an individual against their idea of a ‘Perfect Customer’ using the many different pieces of information they have access to. However, as the information they use is very similar, different lenders can often make very similar decisions.
It is also important to understand that credit lenders consider PROFIT alongside risk, so even if you have an exemplary credit history you may be declined. For example, if you always pay off your credit card balance in full you may feel like the perfect customer, but for the credit card companies you’re a nightmare. If they can spot this trend, you’re likely to be rejected. The most profitable credit card customers are those who are perpetually in debt, never defaulting, but always managing to meet the minimum repayment.
By understanding how different lenders use their credit scorecards, and following some simple rules, it is possible to enhance your ability to obtain credit as well as reducing the amount of interest you need to pay. As a member of FraudLock, you will be shown how to make the best of your credit report.
On-line Security Software and Advice
FraudLock’s internet security specialists provide you with the latest information to help keep your PC protected. With services ranging from free anti-virus software and free personal firewalls to new security developments and details of the latest scams FraudLock helps to keep you protected whilst on-line.
Private Investigators. To pursue a prosecution should an attempt to breach your Identity be made.
Unfortunately, there are currently very few successful prosecutions relating to Identity Fraud despite the fact that it is the fastest growing crime in the UK. Geographical disparity combined with the creativity of today’s fraudster makes it difficult and time consuming for the UK’s regional constabularies and national law enforcement agencies to successfully coordinate their efforts. As a member of FraudLock, your breach could justify the appointment of one of our Private Investigators to pursue the perpetrator.
The decision to appoint a Private Investigator will remain entirely at FraudLocks discretion. However, please rest assured that if we feel there is a realistic opportunity to successfully purse a fraudster and their hierarchy of criminals FraudLock, will leave no rock unturned in the pursuit of justice for our members.
DataWatch – Black Market Internet & Database Monitoring
FraudLock will monitor black-market websites and databases utilised by fraudsters and organised crime rings to sell and exchange your personal information. If your registered information is found on such sites, FraudLock will contact you immediately so that you can change your account details – rendering the information held by the criminals completely useless.
Those involved in organised crime are targeting Identity Theft as a major revenue generator. By obtaining simple information about you via many different tactics from Refuse Diving to complex cyber crime such as Phising , Vising and Spyware fraudsters utilise your identity to acquire new credit or steal from your existing lines of credit. Often the fraudsters will simply sell your details onto other criminal groups via black market internet sites and databases. FraudLock constantly research this market and monitor sites for our member’s details. If we find your details available for sale on such sites, FraudLock will contact you immediately so that you can have your account details amended, rendering the valuable information held by the criminals completely useless.
Reduced Junk Mail & Pre-Approved Credit Offers
Several sources cite this kind of direct marketing as being an identity fraudsters dream. FraudLock facilitates your registration with the Mailing Preference Service to dramatically reduce such direct marketing.
Fraudsters target Direct Marketing mail, and especially Pre-Approved credit offers as they can easily intercept such mail without you even knowing – until you find debts are mounting in your good name which you haven’t had the pleasure of spending!!
Unwanted, Direct Mail has no place in anyone's home. If you're not interested in receiving it, FraudLock will facilitate your registration with the Mailing Preference Service for Direct Mail companies to see and adjust their lists as you request.
CardLock – Lost Card Recovery Service
After the initial shock and disbelief when you realise your credit and debit cards have been lost or stolen, panic sets in. As a member of FraudLock you will have access to the experienced support of a FraudLock representative to walk you through the cancellation and replacement card process.
Statement Reminder Service
A ‘Reminder Service’ when your statements are due, so you can take action should they not arrive, and stop any potential fraudsters from using your accounts without your knowledge.
Having read this far, you are clearly quite savvy when it comes to your personal finances. Most people in your position will open and check their bank and credit card statements as soon as they arrive in the post to ensure all transactions are legitimate. But would you notice if the statement didn’t arrive on time? A common trick of the identity fraudster is to change the registered address of target accounts with your bank of credit provider, leaving them free to spend your hard earned cash without you even noticing. The Statement Reminder Service will send you an automated email for all of your registered accounts when your statements are due; so that you can take immediate action should it not arrive – stopping the potential fraudster in their tracks!
Confidential Advice Line & Members Only Website
If you have any questions regarding Identity Fraud, members can talk to one of our experts for confidential advice between 9:00am – 5:00pm Monday to Friday or check our FAQ’s. Members also have full access to the secure FraudLock Members Only Website where you can keep up to date with all identity fraud related news including the latest scams, recommendations to enhance your protection and special member only offers.
Total Service Guarantee
You are covered by our Total Service Guarantee from the moment you enrol with FraudLock. If our comprehensive measures don’t protect you from financial Identity fraud we will fix the problem at our own cost (according to our Terms & Conditions).
Our Service Guarantee provides confidence that as a member of FraudLock, if in the unlikely event you become the victim of financial identity fraud you're covered for the expenses of restoring your identity. These might include legal fees, telephone calls, postage, rejected loan application fees and lost wages if you have to take time off work.