TransUnion has credit industry's first and comprehensive department known as FVAD
to help the victims of identity fraud. Its sole purpose
is to detect, prevent rectify credit card frauds. FVAD works with the creditors,
debtors, law enforcement agencies, other credit bureaus in order to complete these
tasks. Since FVAD was first introduced it has nearly helped 1 million fraud victims.

FVAD 7 step plan

FVAD has come up with a seven step plan to assist a fraud victim in restoring his credit file and prevention of further fraud. These FVAD seven steps are as follows.

Step1. Addition of fraud information in credit history

If fraud has occurred then FVAD adds a fraud statement in your credit
report. The creditors are restricted to contact you for identity verification
before approving any type of credit request. The information added stays in
your credit history for 7 years.
You can have this information removed if you request the removal in writing.
The victims name is also removed from TransUnion mailing lists for five years by FVAD recommendations.

Step2. Fraudulent accounts are highlighted

Once your identity is verified by FVAD you are told about any recent accounts that are new in your credit report. In case you don't know about the new account then FVAD representative will provide you respective creditor's phone numbers and addresses. You are then advised to notify all such creditors about the fraudulent inquiries.

Step3. Credit report is sent to the consumer

After phone correspondence, FVAD will send you a copy of your TransUnion credit report. FVAD requires proof of your identity or your residence while sending you the credit report. This action taken by FVAD is solely to prevent any further fraud against you.

Step4. Financial education

FVAD mails not only the TransUnion credit report but also dispute letter and anti-fraud education tips.

Step5. Joint-victim credit grantors are notified

FVAD notifies joint-victim credit grantors about a fraudulent account in your credit report. FVAD requests the creditors to run a check on all the recent credit inquiries and credit applications for new accounts in the name of the victim. This is an excellent mean of preventing fraud when both customer and creditor perspectives are taken into account.

Step6. Information of fraud is kept in databases

To avoid future fraud, FVAD keeps the previous found fraud addresses, phone numbers, social security numbers are added to a database. Whenever this information is used anywhere for a request of new credit line, creditors are informed and requested to check the fraud. To identify and prosecute the thief, victim might be asked to fill some forms given by the creditors.

Step7. Victim's credit status is restored to original

To restore the victim's credit report, FVAD plays a vital role and investigates the disputed information.