Preventing Identity Theft

My partner Carol Coye Benson has just posted a pretty provocative opinion piece on the subject of preventing identity theft over on the Glenbrook web site.

In this paper, we discuss what we think the problem is and what bankers — and the other owners/participants in the country’s credit infrastructure — can do to actually prevent identity theft. We’ll also discuss why we think bankers can strengthen their relationships with customers by taking aggressive action, and can extend the good work they have already done on the remediation of identity theft.

Remediation programs currently in place within the industry are helping consumers deal with identity theft once they are victimized. Bankers can be proud of their work here, but it’s also very clear that these efforts don’t address prevention, which remains the core challenge at hand.