Veda Advantage launches weapon to fight crime

Veda Advantage launches weapon to fight identity crime

My Credit Alert protects consumers from ID fraud

13 August 2007 – Veda Advantage, the largest custodian of credit information in New Zealand, today launched My Credit Alert, a service aimed at protecting consumers against the growing threat of identity crime.

My Credit Alert sends a notification via email, fax or post whenever an individual’s credit file has been accessed. If the reasons for the check are unknown to the individual, they can contact the police and the financial institution in question and prevent credit from being taken out fraudulently in their name.

John Roberts, NZ Country Director, Veda Advantage says, “Veda Advantage facilitates credit checks for all New Zealand’s major banks and lenders, which puts us in a position of responsibility to ensure the consumer gets the best possible protection from fraudsters. The My Credit Alert service is just one of a number of initiatives we have undertaken to combat identity crime.”

Identity theft and fraud cost the taxpayer an estimated $1.4 billion last year, and that figure is set to rise in 2007.

John Roberts adds, “Most of us are pretty unaware of what is on our credit files. Unfortunately that means we don’t know we’ve been defrauded until default notices start arriving from debt collectors. My Credit Alert helps people protect their credit reputation, and makes it that much harder for criminals to get away with identity crime.”

ENDS

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