Saturday, August 21, 2004

Article: Credit companies cool toward 'freeze'

The ability to freeze one's credit report is touted in a number of articles as the solution to ID theft. Is short, a consumer can lock his or her credit report so that it can only be released by a PIN given directly by the consumer. If credit grantor can't successfully get a credit report at the behest of an ID thief, no credit can be granted and no ID theft.

I have no idea if this is available in Canada, but you may be able to argue that PIPEDA would provide for this if you told all the consumer credit agencies that they do not have your permission to disclose your personal information except with your explicit consent, confirmed via a PIN or other tool. Most consumers have, via credit card agreements and others, given carte blanche to access credit reports, so you may not be able to revoke this.

Credit companies cool towards 'freeze'

By BRIAN BERGSTEIN
Associated Press

NEW YORK — Little by little, a weapon against identity theft is gaining currency — but few people know about it. It's called the security freeze, and it lets individuals block access to their credit reports until they personally unlock the files by contacting the credit bureaus and providing a PIN code.

Credit agencies were required to allow freezes, at least in California, thanks to a new state law. For more info, you can also check out http://www.fightidentitytheft.com/legislation_california_sb168.html

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