1) What is the Identity Theft Assistance Center?

2) What is ITAC’s mission?

3) How does ITAC define “identity theft”?

4) What is different about ITAC?

5) What services does ITAC provide?

6) How does ITAC victim assistance service work?

7) What if a suspicious account is found at a non-member company?

8) If I use the ITAC service, where does my information go?

9) Who can use the ITAC victim assistance service?

10) How is ITAC financed and managed?

11) Why are the members participating in ITAC?

12) What can I do as a consumer to prevent future cases of identity theft?

1) What is the Identity Theft Assistance Center?

ITAC, the Identity Theft Assistance Center (www.identitytheftassistance.org), is a nonprofit coalition of financial services companies united in our commitment to protect our customers from identity theft.  As the leading provider of identity assistance services, ITAC protects all consumers through partnerships with law enforcement, education and identity management services.  ITAC has helped more than 50,000 recover from identity theft.

ITAC was founded in 2004 by The Financial Services Roundtable and its technology affiliate, BITS, which represent 100 of the largest integrated financial services companies. Since then, ITAC has helped tens of thousands of victims restore their financial identities. ITAC’s unique private/public structure is recognized internationally as an effective model to address a highly complex, global crime. The ITAC database of identity theft cases is a valuable resource for those seeking a greater understanding of the causes and consequences of identity theft.

2) What is ITAC’s mission?

Help victims of identity theft.

Partner with law enforcement agencies in fighting identity crime.

Work with the industry to detect and prevent identity theft and act as the center of expertise on identity theft.

3) How does ITAC define identity theft?

Identity theft is the creation of a fraudulent new account in the consumer’s name or the takeover of an existing legitimate account. Unlike the more common kinds of financial fraud, such as unauthorized use of a credit card, which typically can be resolved quickly, identity theft often involves multiple companies and can be difficult to resolve.

4) What is different about ITAC?

ITAC has several unique features:

Non- profit Industry Initiative. Forty-eight of the largest financial services companies in the country took the initiative to create and fund a service for their customers who are victims of identity theft.

Cooperative Approach. The members of ITAC believe that fraud reduction and victim assistance are not competitive issues. Only a comprehensive approach – bringing together victims, industry, and law enforcement – can address a crime as pervasive and complex as identity theft.

For the victim, one of the most frustrating aspects of identity theft is having to complete a different affidavit at each company where suspicious activity occurred. All of the members of ITAC have agreed to use the same form and to share the contents of the uniform affidavit among themselves.

ITAC shares information about known cases of identity theft with law enforcement agencies that have jurisdiction over these crimes.

5) What services does ITAC provide?

ITAC victim assistance. Since opening in 2004, ITAC’s victim assistance service has helped customers of member companies restore their financial identity. Tens of thousands of individuals have used ITAC’s victim assistance service which is funded by ITAC member companies and provided at no cost to their customers.

ITAC Sentinel^®, is a credit and identity protection service that protects consumers from identity theft. ITAC Sentinel is the only identity theft protection service that includes ITAC victim assistance, a helping hand to speed your recovery if you ever become a victim of identity theft.

6) How does ITAC victim assistance service work?

If a consumer suspects a problem with an account - for example, funds are missing from an account - the consumer contacts the ITAC member company that holds that account.

First, the customer works with the member to resolve any issues at that particular company. The ITAC member gathers information about the event using the uniform affidavit. Information in the uniform affidavit can be shared with departments and business units within the company and, with the customer's consent, other companies. This sharing reduces the burden on the victim, who otherwise would have to tell his or her story repeatedly and complete multiple forms.

If the ITAC member determines the problem involves identity theft, the consumer is offered use of ITAC free of charge. With the victim's consent, the contents of the uniform affidavit are transmitted to the ITAC. ITAC then obtains the victim's credit report and schedules a telephone call with the victim. Together, ITAC reviews the file with the victim to see if there is evidence of accounts that have been taken over or fraudulent accounts that have been created. If fraudulent activity is found, ITAC notifies the affected creditors and places a fraud alert with the credit bureaus if the victim has not already done so. ITAC shares information about these identity theft crimes with law enforcement agencies in order to help them determine, investigate, and prosecute identity theft.

7) What if a suspicious account is found at a non-member company?

ITAC notifies all companies at which suspicious activity is suspected, regardless of whether the company is a member.

8) If I use the ITAC service, where does my information go?

Consumers' personal information is stored in the ITAC database which is subject to the financial services industry security standards. Based on the consumer's consent only, ITAC will have full access for the purposes of notifying other companies where fraud may have occurred and helping law enforcement identify patterns of identity theft and for prosecuting identity theft criminals.

9) Who can use the ITAC victim assistance service?

ITAC victim assistance is a free service for customers of ITAC member companies. ITAC victim assistance serves individuals who live in the United States and who have an account relationship with a member for personal, family, or household use.

ITAC Sentinel subscribers have access to ITAC’s victim assistance service if they ever become a victim of identity theft.

10) How is ITAC financed and managed?

The Identity Theft Assistance Corporation is a non-profit corporation that is supported by its members and governed by a Board of Directors elected by the members. Like other nonprofits, ITAC needs steady and reliable income to accomplish its mission of fighting identity theft through victim assistance, consumer education, research and law enforcement. ITAC relies upon membership dues, conferences, subscriptions to ITAC Sentinel® and other sources.

11) Why are the members participating in ITAC?

The members recognize that fighting fraud is not a competitive issue and that fraud and identity theft affects consumers and the industry alike. Consumers suffer the frustration and stress of navigating a complex process that can take hours to complete, while companies are forced to offset losses with higher costs to consumers. ITAC is working with law enforcement to ensure they have the resources necessary to catch and convict identity theft criminals.

12) What can I do as a consumer to prevent future cases of identity theft?

To learn more about protecting yourself against identity theft, visit our consumer pages.