7 ms·

The SSN shouldn't be the critical key in that list. So it would a "Credit ID," Passport Number, DL #, or something related. What's the difference, it will nee

The SSN shouldn't be the critical key in that list. So it would a "Credit ID," Passport Number, DL #, or something related. What's the difference, it will need to be stored next all your stuff, awaiting to be stolen. Now the banks eat the small % caused by fraud (cost of doing biz), your life is hell, but not theirs. Scan your iris before getting the new loan isn't going to happen either, too costly and slow. If they ever do that online, they'll find a way to recreate that based on your existing scan, stored at the future Experian.

watwut 9y ago
I haven't seen password I'd or national card I'd used as identification, ever. The way it works is that you bring it physically and they look into it. Or that you send photo of the id (yes that is easier to forge, then again harder then forging utility bill) - that is done only where it is impossible to do physical check and never with loans and such. Identity theft in Europe is extremely rare. It is possible to do something in your name, sure, but it does not happen nowhere near as often and damage is limited compared to ssn system.
- tryingagainbro 9y ago
  >> The way it works is that you bring it physically and they look into it. Not gonna happen, banks for now will rather swallow the relatively low loses due to fraud. In USA you sign a piece of paper (pre-approved loan), or login online and the loan money is deposited in your account within a few days. All automated. So far it works out for them, if fraud loses increase, the banks, not us, will choose the next method. And Congress will approve it within weeks.
  - rocqua 9y ago
    The issue is that fraud causes more loss than just for the bank. Whomever got impersonated is also fucked. At the moment, they have very little recourse to recoup their costs from the bank that got fooled.
ProblemFactory 9y ago
> So it would a "Credit ID," Passport Number, DL #, or something related. What's the difference, it will need to be stored next all your stuff, awaiting to be stolen. It should not be a passport number or driver's license number. It should be the original, physical passport or driver's license that you present in person. The physical object is much harder to steal or copy, and can be revoked. You should not be able to open credit lines or accounts with a business without appearing at least once in person first.
- germanier 9y ago
  It doesn't even have to be in-person at that specific business. In Germany, the post office will authenticate your ID for any business that pays them for that service (either at a branch or during daily delivery). Alternatively, identification startups now allow to authenticate yourself via video chat without leaving your home. Video enables them to check most security features on the ID. The national ID also has an embedded smart card usable for authentication but for some reason using that has never took off.
  - zAy0LfpBZLC8mAC 9y ago
    > Video enables them to check most security features on the ID. Video is just another form of photo copy, so how would that work?
    - Vespasian 9y ago
      You are required to respond to questions from them and verbally verify a) what you're are applying for b) read out the data written on the ID (passport or national ID) and c) move and wiggle the card around and occlude it with your finger so the agent can verify certain security features (holograms, picture, "shiny stripes" on the card). In my opinion, it would be quite hard to prerecord the whole process and/or reuse such recordings for multiple applications. All in all this process makes it much much harder to steal an identity. Also, once you report your ID card stolen, its serial number will be blacklisted preventing it from being used. Add to this that there is a snail mail address on your cards which will typically be used to send login information such as passwords and PINS

watwut 9y ago

I haven't seen password I'd or national card I'd used as identification, ever. The way it works is that you bring it physically and they look into it. Or that you send photo of the id (yes that is easier to forge, then again harder then forging utility bill) - that is done only where it is impossible to do physical check and never with loans and such. Identity theft in Europe is extremely rare. It is possible to do something in your name, sure, but it does not happen nowhere near as often and damage is limited compared to ssn system.

tryingagainbro 9y ago
>> The way it works is that you bring it physically and they look into it. Not gonna happen, banks for now will rather swallow the relatively low loses due to fraud. In USA you sign a piece of paper (pre-approved loan), or login online and the loan money is deposited in your account within a few days. All automated. So far it works out for them, if fraud loses increase, the banks, not us, will choose the next method. And Congress will approve it within weeks.
- rocqua 9y ago
  The issue is that fraud causes more loss than just for the bank. Whomever got impersonated is also fucked. At the moment, they have very little recourse to recoup their costs from the bank that got fooled.

ProblemFactory 9y ago

> So it would a "Credit ID," Passport Number, DL #, or something related. What's the difference, it will need to be stored next all your stuff, awaiting to be stolen. It should not be a passport number or driver's license number. It should be the original, physical passport or driver's license that you present in person. The physical object is much harder to steal or copy, and can be revoked. You should not be able to open credit lines or accounts with a business without appearing at least once in person first.

germanier 9y ago
It doesn't even have to be in-person at that specific business. In Germany, the post office will authenticate your ID for any business that pays them for that service (either at a branch or during daily delivery). Alternatively, identification startups now allow to authenticate yourself via video chat without leaving your home. Video enables them to check most security features on the ID. The national ID also has an embedded smart card usable for authentication but for some reason using that has never took off.
- zAy0LfpBZLC8mAC 9y ago
  > Video enables them to check most security features on the ID. Video is just another form of photo copy, so how would that work?
  - Vespasian 9y ago
    You are required to respond to questions from them and verbally verify a) what you're are applying for b) read out the data written on the ID (passport or national ID) and c) move and wiggle the card around and occlude it with your finger so the agent can verify certain security features (holograms, picture, "shiny stripes" on the card). In my opinion, it would be quite hard to prerecord the whole process and/or reuse such recordings for multiple applications. All in all this process makes it much much harder to steal an identity. Also, once you report your ID card stolen, its serial number will be blacklisted preventing it from being used. Add to this that there is a snail mail address on your cards which will typically be used to send login information such as passwords and PINS