November 9, 2007, Newsletter Issue #25: Identity Theft Assistance Center Helps Member Customers Restore Accounts

Tip of the Week

In 2004, the financial industry founded The Identity Theft Assistance Center (ITAC), a membership-funded organization, to offer free assistance to victims of identity theft to customers of member companies. Originally exclusive to the financial industry, membership was opened to companies in other industries targeted by identity thieves. Although the organization also offers other services to assist members with fraud operations on a company-wide basis, the primary service is identity theft assistance for member customers.

ITAC expedites the process of restoring victims’ financial integrity while diffusing much of the related frustration they experience. Once the member company and consumer determine issues resulting from identity theft, the ITAC services are provided at no charge to the victim.

An ITAC representative works with the victim to examine credit reports for suspicious activity. The representative will notify creditors of false and erroneous information and arrange for fraud alerts to be placed with credit bureaus.

ITAC will also share information with law enforcement and the Federal Trade Commission (FTC) to help further the pursuit and conviction of identity theft criminals.

Although victims of identity theft cannot personally contact the ITAC for assistance, be sure to ask your financial institution if it is a member of the organization and, if so, request free assistance.

For a list of member companies, visit www.identitytheftassistance.org.

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