Capital One takes security seriously and fights hard to prevent identity theft, which protects both of us. To confirm your identity, we need information from a number of sources. This sometimes means sharing your information (e.g. name, address) with limited third parties solely for fraud prevention services. We take serious precautions to make sure it is as safe with them as it is with us. Rest assured, during the application we will ONLY use your personal data to fight fraud and meet government requirements, not for other purposes like marketing. Data sources may include, but aren't limited to:
Public records: We use public records to confirm you are who you say you are. We want to make sure your name, address, and other info match a real person. Basically, we're just ensuring that the info you provide is the same as that in census files, tax records, and court filings.
Government databases: The government mandates that we run specific checks. For example, we can't open accounts for known money launderers, terrorists, or citizens of specific countries. We use these government databases to make sure your info doesn't match up with someone from one of those groups. Interested in government regulations? Check out the Department of Treasury's Specially Designated Nationals (SDN) list for more details.
Phone providers (may include geo-location, billing data, and/or device info): When you apply, we may do a one-time check with your phone provider (cell and/or landline) to get billing info, geo-location, and/or device data. This helps us make sure your home address matches your phone's billing address. Your phone's physical location can also alert us to higher risk situations. For example, if you're applying for an account while in a foreign country, we want to make sure no one is impersonating you. Don't worry - we still open accounts for people who are on vacation, moving, etc. This is just one more clue to help us solve the puzzle of if it's you or someone impersonating you. Also, geo-location, billing data, and device info will only be used for fraud prevention; it won't be used for marketing, mailing lists, or anything else. Your data collected by us will be stored for the life of your account plus five years.
IP providers: Similarly to your phone info, we may do a one-time check with your IP provider to identify where you're applying from. An IP provider is the company that supplies your internet access. Don't worry if you are applying while at work across town - we are looking for something more drastic. An example of a risky situation would be if you are applying from another country. Think of us as a detective trying to prevent a crime from happening.
Personal document scan: If we are struggling to confirm your identity, or your data doesn't match our records, we might ask you for a copy of supporting documents. For example, if you have just moved the public records might not be updated yet. We could ask you for a copy of your driver's license or utility bill that has your new address.