By Carl Surran
Powerful ID Theft Safeguard Available Across U.S.
Winter 2007-08
Consumers in all 50 states are now able to freeze access to their credit files at all three major credit bureaus to prevent identity thieves from operating fraudulent accounts in their names. The plans announced by Equifax, Experian and TransUnion now make “security freeze” protection available even in states that have not passed laws requiring this protection or have limited it to identity theft victims.
In one-third of the estimated 10 million cases of ID theft each year, crooks use stolen personal information such as Social Security numbers to open new accounts in the victim’s name. When a security freeze is in place at all three credit bureaus, a criminal cannot open a new account because the potential creditor is not able to check the credit file. The consumer can lift the freeze temporarily using a PIN so legitimate credit applications may be processed.
Thirty-nine states have enacted laws requiring the credit bureaus to enable consumers to protect their credit files with a security freeze. For more information about state security freeze laws, go to www.consumersunion.org/securityfreeze.htm.
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MILITARY
