U.S. patent application number 11/558325 was filed with the patent office on 2008-01-31 for method of preventing fraud.
Invention is credited to Tracey M. Benson.
Application Number | 20080027858 11/558325 |
Document ID | / |
Family ID | 38987554 |
Filed Date | 2008-01-31 |
United States Patent
Application |
20080027858 |
Kind Code |
A1 |
Benson; Tracey M. |
January 31, 2008 |
METHOD OF PREVENTING FRAUD
Abstract
An identification verification system designed to prevent
identity theft and financial fraud. Individuals are given or select
identification codes which replace the commonly used social
security numbers (SSNs). In order to access an individual's credit
report or other financial records or open a credit account, the
individual's identification code must be provided. Individuals,
therefore, no longer have to provide their SSN in order to verify
their identity. An individual's identity is verified only if the
identification code submitted by the individual matches their
identification code as found in a database. Individuals may choose
to have their identification codes automatically changed
periodically, or may choose to change their identification codes
themselves as often as they wish. Identification codes are
preferably changed upon each access to the individual's credit
report or credit account opening.
Inventors: |
Benson; Tracey M.;
(Friendswood, TX) |
Correspondence
Address: |
GREENBERG & LIEBERMAN, LLC
2141 WISCONSIN AVE, N.W., SUITE C-2
WASHINGTON
DC
20007
US
|
Family ID: |
38987554 |
Appl. No.: |
11/558325 |
Filed: |
November 9, 2006 |
Related U.S. Patent Documents
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Application
Number |
Filing Date |
Patent Number |
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11460002 |
Jul 26, 2006 |
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11558325 |
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Current U.S.
Class: |
705/38 |
Current CPC
Class: |
G06Q 40/025 20130101;
G06Q 40/00 20130101 |
Class at
Publication: |
705/38 |
International
Class: |
G06Q 40/00 20060101
G06Q040/00 |
Claims
1. A method whereby the identity of an individual or entity is
verified, comprising: receiving identification information for an
individual or entity, excluding a social security number; checking
the identification information against a database containing
archived identification information; indicating whether the
identification information received is valid; and changing the
identification information after each said checking the
identification information against the database containing archived
identification information.
2. The method of claim 1, wherein said checking is performed in
order to permit or deny access to a credit report or other
financial record, or to open a credit account.
3. The method of claim 1, wherein the identification information is
an alphabetical, numerical, or alphanumerical code of at least six
characters.
4. The method of claim 1, wherein the database contains all
currently valid, and all expired, identification information.
5. The method of claim 1, wherein the identification information is
compared to the archived identification information, and an
identity of the individual or entity is verified only if the
identification information matches the archived identification
information.
6. The method of claim 1, further comprising associating and
recording the identification information with a party that sent and
thus caused the receiving identification information for an
individual or entity.
7. The method of claim 4, wherein an alert may be generated when
the expired identification information is attempted to be used.
8. The method of claim 5, wherein the identification information is
compared to the archived identification information in the database
by electronic means.
9. A secure method of accessing an individual's credit report,
opening a credit account, or accessing other financial records
comprising: assigning a one time use identification code to the
individual, excluding a social security number; requesting the
individual's identification code; comparing the identification code
submitted by the individual against a database of identification
codes; and determining whether to verify the individual's identity
based on whether the identification code they submitted matches an
identification code in said database.
10. The method of claim 9, wherein said individual's identification
code may be alphabetical, numerical, or alphanumerical, and must
contain at least six characters.
11. The method of claim 9, wherein said individual's identification
code may be changed automatically periodically, may be changed upon
the request of the individual, or may be changed upon the happening
of an event.
12. The method of claim 9, wherein said comparing the
identification code submitted by the individual against a database
of identification codes is performed by electronic means.
13. The method of claim 9, wherein said database contains viable
identification codes as well as expired identification codes.
14. The method of claim 13, wherein the usage of expired
identification codes may lead to an alert being generated.
15. An operating method for a new credit bureau, or similar
institution, comprising: compiling or gaining access to the
financial information of United States citizens, excluding a social
security number; providing summaries, reports, detailed copies, or
assessment scores of said citizens' financial information; and
utilizing a secure method of accessing an individual's credit
report to provide identity verification services to its customers.
Description
[0001] This application is a continuation of U.S. application Ser.
No. 11/460,002 filed on Jul. 26, 2006, and priority is hereby
claimed thereto.
FIELD OF INVENTION
[0002] The present invention relates to information security and
fraud-prevention. Specifically, the present invention concerns
credit and identity theft prevention.
BACKGROUND OF THE INVENTION
[0003] Identity theft and fraud are substantial menaces to
informational security in today's electronic age. Having one's
identity stolen, or credit destroyed, can be life-destabilizing and
can lead to literally years of agonizing phone calls, paperwork and
attempts at reestablishing one's credibility. Moreover, victims of
identity theft or financial fraud may suffer a permanent loss of
peace of mind regarding financial matters, as well as in other
areas of their life.
[0004] Identity theft and fraud are such life-shattering disasters
because of the degree to which we depend on our credit. For
example, when trying to secure a home or automotive loan, or when
undergoing a background check for a job or condominium, one's
credit is often carefully scrutinized. In fact, if one's credit is
poor, home loans and high-end jobs can be all but off limits.
[0005] The situation is exacerbated by the fact that identity theft
and fraud are nearly undetectable until they have occurred and
begun to wreak havoc in one's life. That is, nearly no one is
fortunate enough to catch an identity thief in the act of stealing
one's identity or tampering with one's financial records. Only
after bank account balances become inaccessible and credit cards
are rejected do individuals realize that their identity has been
stolen or misused.
[0006] In response to the threats of identity theft and financial
fraud, banks and other financial institutions have created numerous
security mechanisms to protect bank account and credit card
information. For example, having a photograph of a credit card
holder placed on their card, requiring online users to create
usernames and passwords to access their online bank or credit card
accounts, and providing transaction monitoring services have
significantly enhanced financial security. One glaring chink in the
armor of financial security, however, is one's credit report.
Credit reports can be accessed using one's social security number
(SSN)-- and sometimes without any additional information. If a
malicious individual obtains another's SSN, they have gained access
to essentially all of that other person's financial information,
including bank account and credit card numbers. Due to the
pervasive use of SSNs in today's electronic age, one's SSN may be
gleaned from, for example, cellular phone records, credit card
statements, bank loan applications, housing documents, or
employment forms. Once a malicious individual has seen obtained a
victim's SSN, that individual may be able to take out a loan, make
a purchase, or open a financial account in the victim's name.
[0007] The major credit bureaus, banks, and other entities that
deal with financial transactions have tried several techniques to
address the threats of identity theft and financial crimes. Often,
accounts are protected with some sort of identifying feature.
Institutions often require a password, SSN, date of birth, home
address, or some other personal information before they are willing
to grant access to an account. However, these security identifiers
are only useful if they remain personal and unknown to potential
perpetrators of identity theft. Therefore, it is critical that
these security identifiers be protected and kept confidential. For
example, if the password to an online credit card account is
discovered by a potential identity thief, the identity thief might
be granted full access to the account with the ability to purchase
items upon its credit line. Obviously, there is no point to a
password that can be obtained by thieves. Therefore, it is crucial
that the means by which access is granted to these accounts be kept
protected and private.
[0008] Security identifiers are used so often that a multitude of
companies often posses this personal information about a person.
Within each of these companies, numerous employees have access to
this personal security information about a person. The risk that
one of these people will misuse this information, or pass it along
to someone that will misuse the information, is unfortunately not
negligible. In addition, thieves target companies that possess this
personal security information. By hacking into a computer system
via the internet, or stealing laptops and other storage devices
with personal information on them, thieves can gain access to
consumers' account information and use it for their own benefit or
sell it to the highest bidder. In addition, security identifiers
such as one's SSN, address, and date of birth are often printed on
materials that people carry around with them everyday. Simply
losing one's wallet could produce dire consequences.
[0009] Even if security identifiers are kept private, one's account
may not be entirely protected. If given unlimited opportunity,
thieves may be able to simply guess or use a computer program to
determine one's security identifier. One approach that has been
used to combat this has been to disable a credit card or other
account after someone has unsuccessfully tried to access it a
certain number of consecutive times. For example, if an individual
tried to use a credit card in an automated teller machine (ATM)
several times in a row, but kept entering false personal
identification (PIN) numbers, the credit card account may be frozen
by the holder's bank. While this protects an account owner's assets
and identity, it also is a great hassle for the account owner. In
addition, legitimate users of the account, who may have forgotten
which password, of several possible passwords, they used to protect
the account, might also be locked out when they simply needed one
more attempt to get the password right. Reactivating a disabled
account takes both time and substantial effort. Often, a great deal
of information and paperwork must be provided in order to
reactivate a frozen account. Granted, the effort expended is not as
great as it would have been had the thief been successful in their
attempted fraud, but the effort is great nonetheless.
[0010] Financial institutions have also tried to combat identity
theft and financial fraud by providing transaction monitoring
services to customers. Such services, in their various forms,
identify suspect transactions involving customers' financial
accounts, and determine whether the transaction was legitimate or
whether an investigation should be commenced. Such a service is
retroactive, however, in the sense that it is powerless to prevent
identity theft or financial fraud from occurring--at best, it can
identify a wrongful transaction after it has taken place.
Unfortunately for customers, nearly irreparable harm may be caused
by the time such a system identifies a wrongful transaction. By
that point, the customer may have faced the embarrassment of being
denied a financial transaction, defaulted on loans, or even sunk
into bankruptcy. Moreover, having to conduct an investigation into
suspect transactions is an expensive and time consuming process,
which, compared to a system of preventing wrongful transactions in
the first place, is in the interests of neither financial
institutions or customers.
[0011] In financial reports, such as one's credit report, the SSN
is uniquely powerful. By simply providing this number, along with
other readily obtainable information, such as one's address, it is
possible to view one's entire financial history including account
numbers and payment history. In reality, the SSN is the only line
of defense against fraudulent access to one's credit report. This
is a powerful ability that, if misused, could lead to fraudulent
financial activity. As discussed above, one's credit report must be
checked before one can secure a loan, purchase a house, etc. A
third party is able to access an applicant's credit report when the
applicant provides the third party with their SSN. Over the course
of one's life, one could give such access to dozens upon dozens of
third parties. The risk of abuse is great, as third parties might
divulge one's SSN to potential thieves.
[0012] U.S. Pat. No. 6,985,608, issued to Hoffman, Pare and Lee on
Jan. 10, 2006, is an identity verification method whereby an
individual's personal identification number and a biometric sample
are compared against their records in a database. A successful
match signifies the authenticity of an individual's identity, and
permits a transaction to proceed. Unlike the present invention, the
invention of Hoffman, et al., does not replace an existing
identifier, such as a SSN. Furthermore, by using a biometric sample
as an integral component of its identification process, the
invention of Hoffman, et al., does not provide for the easy
alterability of identifiers that the present invention does.
Additionally, unlike the present invention, the invention of
Hoffman, et al., does not replace the SSN as a solitary identifier
in accessing credit reports and other financial information.
[0013] U.S. Pat. No. 7,047,416, issued to Wheeler and Wheeler on
May 16, 2006, is a user authentication method that uses a private
identifier, a public identifier, and a digital signature. Once a
user provides his private identifier and digital signature, the
private identifier is checked against the public identifier to
ensure authentication. Unlike the present invention, Wheeler and
Wheeler's invention does not replace an existing identifier, such
as a SSN. Moreover, Wheeler and Wheeler's invention contemplates
using a physical "device" as an integral component of the
authentication process, rather than relying on a purely numerical
system, as the present invention does. Additionally, unlike the
present invention, Wheeler and Wheeler's invention does not replace
the SSN as a solitary identifier in accessing credit reports and
other financial information.
[0014] U.S. Publication No. 2005/0125686 A1, published for Brandt
on Jun. 9, 2005, is an individual verification system whereby a
trusted third party provides the individual with primary and
secondary identifiers, which, together with an identifier provided
by the individual, are processed by an encryption key. The
encryption key then produces an identifier for the individual,
which may be varied by the individual. Unlike the present
invention, Brandt's invention does not replace an existing
identifier, such as a SSN. Moreover, unlike the present invention,
Brandt's invention does not replace the SSN as a solitary
identifier in accessing credit reports and other financial
information.
[0015] U.S. Publication No. 2003/0028481 A1, published for
Flitcroft and O'Donnell on Feb. 6, 2003, is a financial transaction
system featuring limited use credit card numbers. Limitations on
the use of such numbers may include particular merchants or
merchant types, amount thresholds, or prior permission. Unlike the
present invention, Flitcroft and O'Donnell's invention does not
replace the SSN as a solitary identifier in accessing credit
reports and other financial information. Furthermore, it does not
provide increased protection against wrongful access of credit
reports and other financial information.
[0016] U.S. Publication No. 2004/0243518 A1, published for Clifton
and Guagliardo on Dec. 2, 2004, is an individual authentication
system whereby a user provides a SSN and a personal identification
number, which are crosschecked in a database. Unlike the present
invention, Clifton and Guagliardo's invention does not replace the
SSN as a solitary identifier in accessing credit reports and other
financial information. Instead, it requires the individual to
retain and use an additional number that is used in conjunction
with the SSN. Furthermore, Clifton and Guagliardo's invention does
not provide for periodic or customizable alterability of the
identifier, as the present invention does.
[0017] U.S. Publication No. 2004/0230538 A1, published for Clifton
and Guagliardo on Nov. 18, 2004, is an authentication method for
accessing a credit report whereby financial institutions and their
employees are each provided with identifiers, as are account
holders. When an employee provides his identifier, the identifier
of the financial institution (his employer), the individual's
identifier, and the individual's SSN, the individual's credit
report becomes available if all the numbers correspond in a
3.sup.rd party's database. Unlike the present invention, Clifton
and Guagliardo's invention does not replace the SSN as a solitary
identifier in accessing credit reports and other financial
information. Furthermore, Clifton and Guagliardo's invention does
not provide for periodic or customizable alterability of the
identifier, as the present invention does.
[0018] U.S. Publication No. 2003/0070101 A1, published for Buscemi
on Apr. 10, 2003, is an individual verification method whereby an
individual submits his personal identifier along with his SSN to a
third party, who checks those data against a database. If the
submitted personal identifier and SSN match, the individual's
identity is thereby successfully verified. Buscemi's invention also
provides for alterability of the individual's identifier. Unlike
the present invention, Buscemi's invention does not replace an
existing identifier, such as a SSN in terms of use--the database
still matches a SSN with an additional identifier; Buscemi's
invention simply provides an additional identifier which
corresponds to the individual's SSN, the SSN maintained in the
database. Unlike the present invention, the SSN is not needed
whatsoever--it is not needed from the individual, and it is not
needed in the database to match up with anything. There is no SSN
in the present invention. Moreover, unlike the present invention,
Buscemi's invention does not replace the SSN as a solitary
identifier in accessing credit reports and other financial
information. The present invention, on the other hand, eliminates
the need for the individual to provide his SSN in order to access
his financial records.
[0019] W.O. Publication No. 2005/038572 A2, published for
Sorrentino on Apr. 28, 2005, is an individual authentication system
whereby an individual's credit card contains an account number and
a security identifier. Once an individual presents the card,
together with a secondary identifier, his identity may be verified.
Unlike the present invention, Sorrentino's invention does not
replace the SSN as a solitary identifier in accessing credit
reports and other financial information. Furthermore, Sorrentino's
invention does not provide for periodic or customizable
alterability of the identifier, as the present invention does.
[0020] Therefore, there is a need for a method of securely
accessing credit reports and other financial information that does
not rely on the uniquely powerful, yet dangerous, capabilities of
the SSN. Such a system must provide a replacement for the SSN
which, unlike the SSN, is limitlessly changeable in order to elude
potential identity thieves. In essence, a system is needed that
provides the simple and effective identification power of a SSN
without the security pitfalls SSNs entail. Moreover, there is a
need for a method of preventing credit accounts from being opened
in a user's name without the user's permission. The SSN is no
longer a safe way to allow credit to be opened and used.
SUMMARY OF THE INVENTION
[0021] The present invention is a method whereby an individual uses
an Identity Theft Protector identification Code (ITPIC) in the same
manner a SSN is currently used. Instead of requiring an
individual's SSN to, for example, access his credit report or open
a new account, the ITPIC will provide such access. The ITPIC will
essentially replace the SSN as the primary identifier for
individuals in various financial documentation and records. Unlike
a SSN, however, the ITPIC may be changed regularly or according to
the desires of the individual.
[0022] The present invention prevents an identity thief from using
a victim's SSN to access the victim's private financial information
through the victim's credit report. Further, the present invention
prevents and identity thief from using a victim's SSN to open
accounts in the victim's name. Instead of simply providing the
victim's SSN to view the victim's credit report or open a new
account, an identity thief will have to provide the victim's ITPIC.
Because the ITPIC is continuously alterable by it's rightful
possessor, an identity thief may be thwarted if they obtain an old
and expired ITPIC. For example, if the ITPIC is changed
(automatically or by the user) after each transaction in which it
is provided, even a thief with access to all of the documentation
for those transactions will be unable to steal or misuse that
individual's identity. Moreover, identity theft and financial fraud
may be effectively investigated by looking into the usage of old
and expired ITPICs. To prevent a potential identity thief from
requesting a new ITPIC to be issued to them, in the victim's name,
the process by which ITPICs shall be issued should be particularly
scrutinizing.
DETAILED DESCRIPTION
[0023] In its preferred embodiment, the present invention requires
that individuals be assigned, or choose, an Identity Theft
Protector Identification Code (ITPIC). Such a code may consist of
letters, numbers, or a combination thereof. The ITPIC will serve as
an identification number for the individual, much as a Social
Security Number (SSN) currently does. The ITPIC could contain at
least six characters, and may contain as many characters as are
deemed necessary to provide a sufficiently low likelihood of
multiple individuals sharing the same code, or of codes being
determinable by illicit means.
[0024] It is preferred that the ITPIC have as least nine characters
because the average consumer might never reach ten credit
inquiries/account openings per year. Nevertheless, if the ITPIC is
to change upon each use, then there need to be enough permutations
to allow new ITPIC's to be assigned. In theory, of course, the
ITPIC can be as many characters as necessary to provide adequate
permutations so only one ITPIC is used per credit inquiry or
account opening. Should ITPIC's be reused, then fraud tracking will
not be very possible because an incidence of fraud will be
associated with the particular ITPIC that was provided to a
particular third party. For example, should a consumer provide an
ITPIC to an automobile dealer to do a credit check, and then later,
a fraudulent account is opened in the consumer's name and exercise
equipment is purchased with the fraudulent account, if the ITPIC
used to open the fraudulent account matches the ITPIC provided to
the automobile dealer, then the source of the fraud would be easily
tracked to the automobile dealer. Theft prevention would have been
nearly achieved--or at least knowing that the fraud is trackable,
the automobile dealer would be inclined to ensure that fraud does
not occur.
[0025] Preferably, individuals will be able to have their ITPIC
automatically changed periodically. For example, an individual may
wish to have their ITPIC change weekly, monthly, yearly, or
according to another interval. Additionally, individuals will have
the option to change their ITPIC on their request.
[0026] Also in the preferred embodiment of the present invention,
individuals' ITPICs will be stored in a secure database. The
database will contain all currently operative ITPICs, as well as
all expired ITPICs for purposes of documentation and investigations
into identity theft and financial fraud. All ITPICs will be marked
in the database as operative or expired, and only operative ITPICs
shall provide a means for the individual possessing it to verify
his identity.
[0027] When an individual's ITPIC changes, either automatically or
by the individual's choice, such change will be reflected in the
secure database. The secure database will serve as a central
information source for the credit bureaus, such that when an
individual's ITPIC changes, the credit bureaus will be apprised of
such change from the database, or a representative thereof.
Consequently, consistency among the credit bureaus, and between
them and the secure database, will be preserved. Once an
individual's ITPIC changes, his prior ITPIC shall be marked as
expired, and his new ITPIC shall be marked as operative.
[0028] In the preferred embodiment of the present invention, an
individual's identity will be verified as follows. The individual,
or a third party, will seek access to the individual's financial
records. The individual or third party will be required to present,
alone, or in conjunction with other identifying information, his
ITPIC. The ITPIC thus presented will then be searched for in the
secure database. If an ITPIC is found in the database that matches
the ITPIC presented, the individual's identity may be verified. If
only the ITPIC was requested to identify the individual, the
identification process will be complete, and the individual will be
positively identified. If other information was requested in
conjunction with the ITPIC, such other information will be verified
only if a match is found in the database for the ITPIC provided.
If, then, the other information provided by the individual is
verified, the individual will be positively identified. Once an
individual is positively identified, access to the individual's
financial records being sought will be granted. If, either because
the individual's ITPIC was unsuccessfully matched, or other
identifying information was found to be erroneous, the individual
is not positively identified, access to the individual's financial
records will be denied.
[0029] To further explicate the above identification process, the
following example may provide clarification. An individual may seek
to apply for employment. In the application documentation, the
individual would ordinarily be requested to provide, among other
things, his SSN. Under the framework of the present invention,
however, the individual will be requested to provide his ITPIC in
place of his SSN. If the potential employer wanted to perform a
credit check of the individual, he would then submit the ITPIC
provided by the individual to a credit bureau. The credit bureau
would grant the potential employer access to the individual's
credit report only if the provided ITPIC matched an ITPIC in a
secure database of ITPICs. If the provided ITPIC did not match an
ITPIC in the secure database, the potential employer would be
denied access to the individual's credit report. This example can
also be extended to opening a credit account in the individuals
name.
[0030] If one replaces the potential employer in the above example
with a prospective identity thief, the benefits of the present
invention may be readily seen. Ordinarily, if a prospective
identity thief learned an individual's SSN, he would have virtually
free access to the individual's credit report. Under the framework
of the present invention, however, where a limitlessly variable
ITPIC replaces the SSN as an identifier, the prospective identity
thief would be thwarted if he tried to use an ITPIC that had been
subsequently changed.
[0031] Truly, the simplicity of establishing credit in an
individual's name merely by having that invidivual's SSN and name
or address, etc. calls for establishment of a system devoid of SSN
to remove the burden of identity theft from the consumer--the
consumer bearing a heavy burden should identity theft occur
currently.
[0032] Preferably, the method by which individuals may personally
change or gain access to their ITPICs (as opposed to having their
ITPICs automatically change) will be particularly scrutinizing. If
individuals were able to change their ITPICs without a very
rigorous identification process, the security enhancements of the
present invention may be undone. Identity thieves cannot be allowed
to provide a few trivial pieces of information about an individual
and gain access to or change the individual's ITPIC. Therefore, in
order to change or gain access to an individual's ITPIC, a
sufficiently high amount of identifying information must be
provided by the individual. In the same vein, it should be noted
that the means by which individuals will receive new ITPICs that
are automatically generated will be particularly secure. Allowing
new ITPICs to be intercepted or observed by potential identity
thieves would be just as dangerous as allowing identity thieves to
gain access to or change an individual's ITPIC.
[0033] In an alternative embodiment of the present invention, a
mathematical formula may be used to generate new ITPICs for
individuals. Use of such a formula would provide increased
unpredictability in ITPICs that individuals may choose, which would
make it more difficult to illicitly determine an individual's
ITPIC.
[0034] In an alternative embodiment of the present invention, when
an expired ITPIC is used in an attempt to verify an individual's
identity, an alert may be generated. Such an alert may signify that
potential identity theft is underway. Determining, with existing
technology, the location, timing and other pertinent circumstances
surrounding such use may be prompt or assist investigations into
identity theft or financial fraud. Because it is surely possible
that the use of an expired ITPIC may be innocent--e.g., caused by a
forgetful individual--care must be taken in determining whether
such use is actually wrongful. If ITPIC's are changed each time a
credit inquiry or credit account is opened, then a particular
activity by a particular party can be isolated per credit inquiry
or credit account opening--and if an individual provided their
ITPIC to a party, then that party will be known as the party that
initiated a particular credit inquiry or credit account
opening.
[0035] In an alternative embodiment of the present invention,
individuals may be provided limitless ways determine how and when
their ITPIC is changed. One such way may be to automatically change
an individual's ITPIC after each successful use. Doing so would
thwart even an identity thief with access to the documentation of
such uses. For example, if a landlord who legitimately accessed an
individual's credit report decided to view the individual's credit
report a second time using the same ITPIC, he may be denied from
doing so.
[0036] As an alternative embodiment of the present invention, the
secure database containing ITPICs may be owned and operated by a
new credit bureau in competition with the existing credit bureaus.
In such an embodiment, use of the present invention's
identification method will provide a decisive competitive advantage
in terms of providing security and reliability in its services. If
it so chose, such a new credit bureau may license or freely permit
its competitors access to its secure database of ITPICs.
[0037] Identification codes are preferably changed upon each access
to the individual's credit report or credit account opening. In a
further embodiment of the present invention, an ITPIC would remain
valid until used, so that if an ITPIC is provided to car dealer to
check credit for a potential purchase, for example, then that ITPIC
would be capable of being used one time only even though another
ITPIC had been issued because that ITPIC had been provided to
someone. This is important because the car dealer might not perform
the credit check for a day or so, and in the meanwhile, the
individual would want to be able to provide another different ITPIC
to another party. In embodiments, the ITPIC would be associated
directly with the party to whom it is provided. The individual, for
example, could enter the party to whom the ITPIC has been provided
into software or a list. Thus, if an ITPIC provided to a party is
not used for two years, and then suddenly that ITPIC is used for
opening an account or some other credit access that is no longer
desired by the individual, the particular ITPIC used would be
directly traceable to the party that used it because only that
ITPIC was provided to the party.
[0038] It is understood that the present invention is not solely
limited to the invention as described in the embodiments above, but
further comprises any and all embodiments within the scope of the
following claims.
* * * * *