Re; Privacy Isn't Dead, or At Least It Shouldn't Be

[Steve Schear]

Fwd: [e-gold-list] Re: Inspiring honesty on the part of big government...

>On 7/14/07, James M. Ray <jray at martincam.com> wrote:
>e-gold gives 'em real crooks on a silver platter, over and over....
>
>http://www.informationweek.com/blog/main/archives/2007/07/whos_fighting_i.html
>
>As Ian Grigg has noted, a major reason identity theft continues
>relatively unabated is that that the banks have managed to insulate
>themselves, through lobbying, from most of the loss risk under law.
>They have placed the burden squarely on the shoulders of their
>consumer and merchant clients.  A great deal of such fraud involves
>the creation of new and shadow accounts by the criminals that go
>undetected by the consumer until its often too late.  The banks have
>only offered the fig leaf of for-fee services so consumers can be
>enlisted by them as sleuths to check their credit information for
>unexpected activities.
>
>If consumers were empowered to utilize the credit reporting services
>as a legally binding throttle to unauthorized issuances of new credit
>a great deal of this crime would vanish.  One way this could be done
>is if notations were placed in their credit files that required newly
>submitted credit applications to be accompanied by stamps attesting to
>a recognized notary's authentication procedures for identification of
>the applicant.
>
>Dee Lync