What is Fraud Defender?
Fraud Defender is a high-value, timely product that provides consumers who believe they are victims of identity theft with fully managed recovery services. Professional recovery advocates perform recovery actions necessary to restore the account holder’s stolen or compromised identity.
What recovery service does Fraud Defender offer?
Fraud Defender offers consumers fully managed identity recovery. Covered account holders receive one-on-one help from a caring recovery advocate who has Fair Credit Reporting Act certification and private investigator licensure.
How does the recovery process work?
A recovery advocate is assigned to work one-on-one with the consumer to create a personal Identity Recovery Plan. The recovery advocate does all the legwork for the consumer by Limited Power of Attorney authorization. This includes obtaining credit reports from all three credit reporting agencies and reviewing them with the consumer, as well as contacting by phone and by mail all creditors, financial institutions and government agencies. The advocate maintains a case file and does all follow-up to make sure the account holder’s identity is restored as closely as possible to pre-theft status.
How does the recovery advocate help the consumer?
The recovery advocate researches and documents any fraudulent transactions, designs a customized recovery plan, files all paperwork and notifies creditors, bill collectors, banks, credit bureaus, mortgage companies, and government agencies such as the state motor vehicle department, the Social Security Administration and the U.S. Postal Service. The recovery advocate continues to take action — including providing progress reports — until the consumer’s identity is restored as closely as possible to its pre-theft status.
How long does the recovery process take?
The victim is assigned a recovery advocate when the identity theft is reported. Damage is assessed, and a personal recovery plan is in place as soon as possible. Depending on the nature of the problem, restoration may take anywhere from a few weeks to many months.
Is there a time limit for the recovery process?
No. A recovery advocate works with the consumer until his/her identity is restored as closely as possible to pre-theft status. The recovery advocate also provides post-recovery follow-up care for 12 months to address any additional fraudulent activity associated with the initial event.
What makes Fraud Defender different from other identity recovery programs?
If a covered account holder experiences an identity theft event, the victim is assigned a recovery advocate who develops a customized Identity Recovery Plan and does all the legwork for the victim through a limited power of attorney authorization. Most other identity theft recovery programs include limited event, assisted or semi-managed recovery — requiring the victim to have the time, skills and knowledge to perform many of the recovery tasks.
When should a consumer take advantage of identity recovery services?
When a consumer reports that his/her identity has been compromised, or suspects he/she is the victim of identity theft.
Does the victim need to be sure that he/she experienced identity theft?
No, there does not need to be a confirmed case of identity theft in order to report the problem. Even if there is no fraud evident, but there is an incident that increases the risk such as a lost purse or wallet, a recovery advocate will research the situation to see if fraud is evident. If the account holder has experienced an identity theft event, the advocate will take the steps necessary to begin recovery.
What is a compromised identity?
An individual’s identity may be compromised if his/her personal information is part of an organizational or governmental information breach, or if he/she loses a purse, wallet or other personal identifying information. Because personal information is out of the individual’s control and could be used for criminal activity, the risk of experiencing identity theft increases. If this occurs, the recovery advocate will advise the consumer of his/her rights and provide other assistance such as placing fraud alerts, etc.
If a victim’s family member committed the crime, can Fraud Defender still help?
Yes. There is no exclusion for fraud committed by a family member, but the consumer may be asked to file a police report and name the party that has committed the fraud.
What is the effective date of coverage for the account holder?
Coverage begins the date that the program goes into effect for the group members, or on the date the account holder joins the group, if this is after the initial effective date. To receive recovery services under the program, an identity theft event must be discovered after the effective date.
Who is covered in the program?
The primary and secondary account holders of record on your participating covered accounts.
What if the victim discovered the identity theft before the program effective date?
An identity theft event must be discovered after the effective date to be covered under the Program.
Who pays for the program?
Clatsop Community Bank pays for Fraud Defender in order to provide a no-cost benefit for holders of free personal checking or savings accounts.
Who should the victim contact to take advantage of Fraud Defender recovery services?
The victim should contact Clatsop Community Bank, where his/her case will be submitted for services after coverage validation. The case is then assigned to a recovery advocate, who will review the information and contact the victim within one business day.