Radical Swedish Anti ID Theft Security Solution Can Eliminate ID Theft Totally in the US
DINKUM ID, located in Stockholm, Sweden today announces a new and radical approach to secure personal IDs that is more effective and would make the recent ID thefts at Wachovia, Bank of America, ChoicePoint, Lexis Nexis, HSBC, DSW, Time Warner - non-events.
(PRWEB) May 26, 2005 -- The current explosion of high profile ID Thefts at
ChoicePoint, Lexis Nexis, BOA, POLO, HSBC, DSW, show that encryption, firewalls,
multi-level authentication, key systems, tokens, passwords, biometrics, CHIP
& PIN, smart cards, paper shredders, credit report monitoring, ID theft
insurance, credit report flagging, ID Theft law, locked letter boxes, etc.
cannot stop identity theft.
However, they highlight three very important
points: (1) ID Theft can affect every citizen and every business. (2) None of
the existing so-called security solutions or advice can totally stop or prevent
ID Theft. (3) ID Theft laws only highlight the thefts after they have been
committed and cannot stop or prevent ID Theft.
“DINKUM ID has taken a
radical and a completely new approach towards securing personal IDs because it
sees securing DATA and securing IDs as two completely different tasks.” said
Beng Lim, founder of DINKUMID
This is the first time that a single
technology can provide a holistic approach to stop and prevent ID Theft and all
crime and fraud arising from use of stolen IDs. It will therefore also stop
terrorists from hiding behind stolen identities.
At anytime, your
personal ID is residing in multiple platforms (other than computers) and
locations: your ID can be in your wallet, on credit cards, in the desktop, at
your work computer, in the computer at the department of motor transport, at the
passport office, at your local bank, in transit in the Internet, on the receipt,
in an application form, in a credit report, on the computer screen in front of
the bank clerk, in a letter on the way to a letterbox somewhere, on the identity
card, on the driver's license, in a file at the human resource department, at
the medical clinic, in the rubbish bin, in the letter box, in Experian, Equifax,
TransUnion, ChoicePoint and Lexis Nexis databases, at the telephone company, and
hundreds of other places, across the country, across the world, simultaneously.
Unless your ID is protected at all those places, at all times, your ID
is vulnerable to ID Theft at one or more of those places.
Therefore, one
cannot try to secure one's ID in the hard disk and databases but leave it open
to theft on the display screen and at the other places.
Securing IDs is
more than encryption, biometrics, multi-level authentications, the New Seven
Laws on Identity, looking over your shoulder, etc. ... it is also about preying
eyes of insiders, pieces of papers, and so on.
One of the basic test of
any ID security solution is: Can it stop a bank clerk who has logged into the
bank’s network using multi-level authentication, tokens, biometrics, etc.
sitting in front of and reading the IDs on display on his computer screen, from
copying the IDs onto pieces of papers and selling the IDs and personal
information on display on his computer screen to criminals and terrorists to
commit fraud?
If the security solution cannot stop that then it is not a
security solution against ID Theft.
The recent ChoicePoint, Lexis Nexis,
Bank of America and Iron Mountain breaches show that no matter how ‘secure’ your
computer network or system is – IDs can be lost through its weakest
links.
ID Theft is an important tool for terrorists. According to the
FTC, it is the fastest growing consumer crime in the US. It costs businesses
over $50 billion each year and consumers over $5 billion in out of pocket
expenses. It affects over 9 million Americans each year.
DINKUMID will
reduce ID Theft to ZERO and is currently looking for partners in the US to
launch its security solution as soon as possible.
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Source : http://www.prweb.com/releases/2005/5/prweb244147.htm