Fraud Monitoring

Fraud monitoring differs from credit monitoring in that credit monitoring is just what the name implies, it monitors your credit. Credit Monitoring is very important, but there are many more indicators of identity theft.

In many identity thefts, the earliest detection can take place when an identity thief causes a change in some other data element. A few examples of this include changes in:

The absolute earliest detection takes place when databases that may include some of the information mentioned above are monitored.

This is what fraud monitoring accomplishes.

Fraud monitoring is one of the most modern electronic systems in that it monitors over 400 different databases. It systematically combs these databases until it detects a change for a plan participant. When it detects a change it sends an email notification to the participant indicating the change.

The participant then can decide if this is a change with which they are familiar (yes, indeed they did change addressees recently) or if it is a change with which they are not familiar and may portend the earliest beginning of an identity theft. In this instance the participant will contact the resolution assistance vendor to work through the situation.

Fraud Monitoring is perhaps the most expensive component of identity theft and it is perhaps the most important.