Experian launches CreditLock feature to protect users against fraud

Friday 13 January 2023 15:12 CET | News

US-based Experian has launched a new CreditLock feature in order to help protect its users in the context of rising cases of identity fraud.


CreditLock was designed to allow customers to lock their Experian Credit Report at the touch of a button. According to, Experian has decided to implement this new feature in light of recent reports that show 1 in 4 UK adults have fallen victim to fraud, with 75% of UK adults having been targeted. 

The feature is aimed at  CreditExpert and Identity Plus customers, and it can be activated using a toggle switch in the app or online. By using the system, certain high-risk credit applications, including loans, mortgages, or credit cards will be blocked by a ‘locked’ report. Should the Experian client wish to make a genuine application for credit, he or she can unlock the report instantly. 

The solution can also alert users about any new credit searches in their name and inform them if it has stopped any fraudulent applications on their behalf. It’s worth noting that a fraudulent application blocked by CreditLock will have no impact on a person’s credit score. 

Experian representatives cited by highlighted the continuing rise in the cost of living as well as the increasing instances of fraud that are associated with this phenomenon. They also revealed their aim to create a product that can help improve people’s financial well-being while giving them more control over their finances.


US-based Experian has launched a new CreditLock feature in order to help protect its users in the context of rising cases of identity fraud.


Other developments from Experian

In January 2023, Experian partnered with crypto peer-to-peer lending platform Credefi, which supports decentralised and secured lending to business portfolios, protecting lenders while providing a fixed annual percentage yield (APY) that is uncorrelated with the volatility of crypto markets. 

This partnership aims to strengthen Credefi’s reach and access to institutional-grade clients. The collaboration also solidifies bilateral cooperation between the two companies and highlights the standards the team strives to maintain in terms of service quality, as well as the safety and security of its users. 

In November 2022, Experian has announced its appointment by the Singapore FinTech Association (SFA) and the Buy Now, Pay Later (BNPL) Working Group as a BNPL bureau operator. The appointment involves Experian’s technological infrastructure to facilitate creditworthiness checks for consumers with users’ credit information submitted by all accredited BNPL players in Singapore. 

In the future, Experian aims to roll out a series of knowledge-sharing engagements for all the accredited BNPL players in Singapore with the goal of bringing global best practices from its BNPL bureau in the US and the UK to Singapore and the region.

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Keywords: identity fraud, product launch, fraud detection, fraud prevention
Categories: Fraud & Financial Crime
Companies: Experian
Countries: United States
This article is part of category

Fraud & Financial Crime


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