Definition of Identity fraud reimbursement program

Identity theft means a criminal act in which a criminal steals and uses identity information of another person most of the time for taking financial advantage. For example, using someone’s credit card information to make purchases or using someone’s information or medical card for free treatments etc.
Stolen information is sometimes used as it is and sometimes combined with other information to create new identity.
Identity fraud reimbursement program is a program in which a victim is reimbursed with the amount associated with the fraud identity usage. These programs also compensate in a monetary way to the victim. This institution helps you get back your identity and does all the paper and legal work for the victim. KROLL was one of the first financial institution of this kind. You have to first register with them and need to give them your minimal information and power of attorney so that they can work on your behalf.