What is identity theft? Identity theft is the leading fraud crime in the United States of America and involves the fraudulent use of a person’s name by a criminal for personal and monetary gain. Expect a successful attack on your identity to cost about $2,500 and the cost for a business-related identity theft will exceed $10,000 (Hall, 2006).

The restoration of your good name following an identity theft will take months or years. It is far more desirable to take the steps necessary to avoid identity theft rather than attempt to take care of the problem when it happens.

BASIC IDENTITY THEFT PROTECTION

Basic identity theft protection measures center around one’s travel, money, employment and home.

Based on the experience of this writer, successful identity theft prevention involves the implementation of a privacy lifestyle rather than the buying of identity theft insurance-like protection products.

This article will focus on these four important aspects of our lives and provide solutions that have been used. Explanations and in depth details of the identity theft prevention solutions mentioned herein are beyond the scope and purpose of this writing. Further research is recommended and interested readers are advised to rely on the references at the conclusion of this paper for specific recommendations on identity theft prevention.

HOME PRIVACY

Associating one’s name with their home address and having the two linked in data bases and/or public records provides identity thieves with a clear map to your doorsteps. It is not a good idea to have a residence in your own name and mail should be received by a mail drop nominee when privacy matters are a priority.

Certain privacy seekers learn how to get a new identity for non-official use in order to keep their lives private. Learning how to create a new identity is not complicated. Essentially, for non official purposes, privacy conscious people can begin using a pseudonym simply by beginning to use another name. Use your true name when dealing with law enforcement and research laws in your given jurisdiction before you get a new identity for privacy purposes related to identity theft. Countries in the western hemisphere have permitted the use of another name for privacy matters and privacy laws support your right to privacy in most cases.

Once neighbors know you by your pseudonym and an “owned” residence is titled in the name of a Trust, all privacy matters pertaining to the home become iron clad.

EMPLOYEE RIGHTS TO PRIVACY

Work privacy is essential and the level of privacy employed by the individual who seeks identity theft protection will depend on personal motivation and knowledge.

While privacy laws are on the side of the employee, workers are traceable through Social Security numbers and names. Certain databases make this information available to many government agencies and private companies and individuals may buy the information from third parties.

High-level work privacy methods have been employed to break the paper trail from an individual to their work place. Are you serious about learning how to prevent identity theft that may originate from the work place? Perhaps you should learn how to create a new identity. Not in the traditional sense, but as an “employer’s” name that is not traceable to you. The method of using a Limited Liability Company or a trust as your “employer” establishes a privacy layer between you and your actual employer-complete with a new name and tax payer identification number (EIN).

THE ANONYMOUS TRAVELER

Automobiles registered to and owned by the usual driver along with Department of Motor Vehicle drivers license information, provide identity theft criminals with names, home addresses and Social Security numbers of potential targets or direct links to this information.

A trust-owned automobile that is registered properly for privacy purposes allows the driver to travel anonymously. Indeed, a recent case study indicated that a police department of a city could not identify the driver of a trust-owned car (Hall, 2008).

The key is "proper registration" of the automobile that is titled in the name of the trust.

MONEY AND PROPERTY

Perhaps the most challenging aspect of one’s privacy matters involves the concealment of property-both real and liquid assets. Banks are usually not amenable to providing customers with services to meet their privacy needs and few bankers understand their own business and most do not know the source of their money (Hall, 2008) and bankers are not your friends (Hill, 1998).

Trust owned, non-interest bearing checking accounts have enabled privacy advocates to keep their names and Social Security numbers off bank account titles. Trust accounts without reference to the trustee’s name can be considered anonymous to the outside world as only the bank will have the signer’s information.

Businesses controlled by one or more people may be held by entities and registered anonymously to avoid an invasion of privacy. Businesses registered with the Secretary of State are public information. Front entities and the administrative trustee principle (Hall, 2006) provide management with secrecy in administrative business privacy matters.

COMMUNICATION PRIVACY MATTERS

Online privacy, email privacy, data privacy and all internet communication and research become important considerations for a business privacy policy model. In fact, all communications-telephone, email, faxes and letters and documents should be handled with identity theft prevention as a primary consideration. Personal and business information is often intercepted by those in the business of identity theft. Keeping tax identifiers, home addresses and other financial information off of correspondences of all types go a long way toward identity theft prevention.

References

Dunning, Jack, The Dunning Letter, 2008, www.TheDunningLetter.blogspot.com
Hall, Grant, Right to Privacy: How to be “Invisible” as you Drive, December 23, 2008, www.PrivacyCrisis.com
Hall, Grant, Bank of Arrogance and the Privacy Crisis, September 8, 2008, www.PrivacyCrisis.com
Hall, Grant, Privacy Crisis: Identity Theft Prevention Plan and Guide to Anonymous Living, James Clark King, LLC, 2006, www.PrivacyCrisis.com
Hill, W.G., Banking in Silence, Scope International, Ltd., 1998
Copyright: James Clark King, LLC, January 1, 2009