As a bit of an aside I am starting a series of posts on Information Security. Our technology world is increasingly under pressure from folks trying to steal our money our information and more. So Sunday mornings will be the slot for these posts.
Today I want to talk about a specific form of identity theft called loan fraud. Many times when our identities are stolen it is to create a method of taking out a loan or a credit card to get money to purchase goods for resale. One of the best methods of preventing this kind of fraud is what is called a security freeze. This is where you tell the credit agencies to not allow anyone to access your credit records. This basically prevents you or anyone else from taking out a loan or a new credit card in your name.
While there are some downsides to this it is mostly for the good. The credit agencies are now talking about what they call a credit lock but that is a device of their own making and may not carry the weight of the law that a credit freeze has.
Here are a couple of reference articles to guide you through the process of checking your credit status and freezing your credit..
Get your credit report:
Freeze your credit records: