Identity verification usually takes place before an important transaction, in an effort to prevent fraud. The procedure may involve confirming your government ID, accessing credit bureau data, or answering questions based on your personal information.
Businesses may be required to verify your identity before a transaction to comply with certain laws and regulations. For example, your identity may need to be verified before you can:
- Sign an electronic document
- Submit your online tax return
- Get a flu shot
- Access government services
- Make a large financial transaction
Other, less common reasons for these alerts can include:
- Applying for credit, services, or refinancing with the company or bank listed in the alert.
- Making changes to an existing account, or being added as an authorized user on any account with the company or bank listed in the alert.
- Applying for, or inquiring about new services, store rewards cards, airline rewards programs, or sweepstakes/drawings with the company or bank listed in the alert.
- Redeeming points, making online payments, renewing insurance premiums, creating a gambling profile, or completing multi-factor/two-factor authentication online
If you don’t recognize the changes to your account, review the following questions as they may help you recognize the alert:
1. Did you have any contact with this company on or around the date shown above?
If you did, they may have disclosed the ID verification process in the fine print.
2. Do you recognize the company? Keep in mind that it may be listed under an abbreviated name (e.g. “The Home Depot” appearing as “THD”).
3. If you still don’t recognize the activity, contact the company for more information. Be sure to get contact information from an official source, such as the company website.
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