A Fraud Alert is a notification placed on a consumer's credit report to warn potential lenders that the individual may be a victim of identity theft. When a fraud alert is active, creditors are encouraged to take extra steps to verify the identity of the applicant before extending credit. This helps protect consumers from unauthorized accounts being opened in their name. There are two main types of fraud alerts: initial fraud alerts and extended fraud alerts. An initial fraud alert lasts for 90 days and is suitable for those who suspect they may be at risk. An extended fraud alert lasts for seven years and is typically used by individuals who have confirmed they are victims of identity theft.