more on How to Steal $65 Billion Why Identity Theft is a Growth Industry

[Dave Farber <dave () farber net>]

At 10:08 PM 9/13/2003, you wrote:
From: Alex Salkever <alex_salkever () businessweek com>

This is interesting but IMHO misses the point. The reality is all of
our data is probably exposed somewhere and it will take generations to
fix this. So the way to tackle ID theft if more forced disclosure of
the credit system. If a credit agency has to clear it with you everyone
time someone pulls your file in response to a request for opening a new
bank account, then you saving your credit becomes not simple but much
easier. The credit agencies don't like this idea because a) they don't
want you to know who is really accessing your credit and b) it would
cost them money. They claim not to like this idea because it would
confuse consumers. I don't personally buy that claim. I track my credit
very closely and rare is the month where more than one or two requests
are lodged for my report. While I agree with Bob that the government
should fix this problem, better fix is for voters/politicians to demand
that such a change be made to the systems. Or for someone like Bob to
call up his three credit agencies and tell them that before they extend
additional credit they must contact him (yes, you can do this -- they
call it a fraud alert). If they fail to contact him, then its pretty
easy to sue them on it. 

-------------------------------------
You are subscribed as interesting-people () lists elistx com
To manage your subscription, go to
 http://v2.listbox.com/member/?listname=ip

Archives at: http://www.interesting-people.org/archives/interesting-people/