Quote:
Originally Posted by PandaSPUR
So how do they pull your information from the credit reporting agencies and confirm thats actually you?
What stops me from going to the bank and getting a loan with just someone's name, address, and DOB? And then how does that bank come after me if I just run off with the money?
|
They ask questions about your previous information such as previous address, previous phone number, confirm one or more of your trades(accounts) with other banks and where they were open, if you have any other cards with bank amount and time of last payment or purchase,which company you did your car loan with.
They can also pull a credit bureau authorization (basically asks questions about your credit bureau files and previous info, also gives false positives such as which bank did you deal with <answer can be none>.
There are many other ways for them to track you down or figure if you are who you claim, such as putting you on hold and calling a previous phone number, looking at your history to see if anything recent is out of place (more purchases, higher risk purchases, several cards opened recently, inactive cards being used, internet purchase made when they hadn't before, etc.). Plenty more techniques can be used to catch a fraudster in their lies
Biggest fraud I've personally caught was in the vicinity of 50k and several in the 10-20k range. Things like that can escalate quickly.