Phishing Alert—Credit Repair Scam
April 7, 2008

Air Force FCU has been alerted on emails circulating about “Credit Repair Scam Through Claim of Identity Theft.” The scam tries to involve individuals to falsely file an identity theft claim for the purpose of improving one’s credit report and credit score.

The perpetrators are claiming identity theft and filing police reports, causing disputed accounts to be removed from their credit reports (either permanently due to lack of investigation or conclusion, or temporarily while under dispute). While the accounts are removed, credit history improves and credit scores increase dramatically. The perpetrator then obtains credit from one or more credit grantors during the time when the credit score is inflated. The loans obtained through the use of the improved credit history and credit score subsequently go unpaid.

This is a “Phishing” scam. A notice has been distributed  to financial institutions alerting them of this scam. Persons affected by this scam, or  scams similar to this one, should forward the e-mail message to Phishing@ncua.gov.