WASHINGTON--(BUSINESS WIRE)--Following alleged federal crimes uncovered exclusively by SubscriberWise that involve probate name-change petitioners and the creation of fictitious credit reports in a complicated scheme, SubscriberWise’s David Howe provides the FBI’s Washington Division new and critical evidence involving suspected application and credit-related fraud.
“This past Thursday I was interviewed by the Federal Bureau of Investigation, Washington Division,” confirmed David Howe, president of SubscriberWise. “I provided details and evidence of an alleged federal crime involving a probate petitioner and the creation of a synthetic national credit report and an artificially high FICO score. In addition to alleged federal application fraud, the situation involved a seriously adverse credit report with nearly three decades of established file history that essentially disappeared from the view of creditors, banks, insurers, and lending institutions around the nation. Several weeks ago SubscriberWise contacted Ohio Senator Scott Oelslager with audio evidence of a similar fraud involving a probate petitioner from another state.
“Shockingly, in the case prepared for the FBI, the improper and profoundly misleading credit file was created mere days after an Ohio Common Pleas Judge signed the order affirming the change-of-name petition (related: http://globenewswire.com/news-release/2015/06/03/741881/10137192/en/SubscriberWise-Offers-Aid-and-Expertise-to-Ohio-Senator-Scott-Oelslager-and-Common-Pleas-Judge-Elinore-Marsh-Stormer.html),” emphasized Howe. “Through this elaborate scheme, the probate-petitioner successfully managed to obtain prime credit, instantly erasing extremely negative payment behavior, bankruptcies, and foreclosures,” Howe explained. “Depending on the involvement of the FBI and its review of the case, SubscriberWise is prepared to report this crime to a state prosecutor who will represent the people and businesses of Ohio.
“Indeed, this alleged fraud is a direct insult to the nation’s adult credit consuming population - millions of whom struggle long and hard to re-establish their credit after life-events and difficult financial circumstances. Paying bills as agreed, along with the passage of time, is the only legitimate path to re-establish credit after financial hardships and set-backs,” stated Howe. “Credit fraud at all levels threatens the U.S. banking and financial system…it cannot be ignored or unchallenged.
“It’s true that there are many good and legitimate reasons – including issues involving personal safety with sealed court records – why individuals legally change their names. This is not an indictment on the right of individuals to change their names,” argued Howe. “However, changing one’s name is not an entitlement to a new and glowing credit report, particularly at the expense of millions who play by the rules and don’t get a ‘fresh’ start by manipulating the system. That’s the critical point.
“Among technology improvements in the credit system, the solution includes simple legislative changes requiring action by courts and individuals,” concluded Howe. “I’m confident these changes will dramatically reduce future occurrences of the dangerous behavior exposed today by SubscriberWise.”
SubscriberWise® launched as the first U.S. issuing consumer reporting agency exclusively for the cable industry in 2006. In 2009, SubscriberWise and TransUnion announced a joint marketing agreement for the benefit of America's independent cable operators. Today SubscriberWise is a risk management preferred-solutions provider for the National Cable Television Cooperative.
SubscriberWise technology has prevented thousands of child identity thefts and uncovered the misuse of personally identifiable information for operators everywhere.
Today SubscriberWise's award winning technology protects billions of dollars of capital investment and revenue for the nation's leading communications companies.