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It can be used to apply for credit. You would think that lenders should be on the hook for handing out money to the wrong person, but they’ve framed accepting
by rz2k 3y ago
It can be used to apply for credit.
You would think that lenders should be on the hook for handing out money to the wrong person, but they’ve framed accepting uniquely identifying personal information like ssn, or date of birth with postal code, as conducting business with an entire identity that has been misappropriated.
- nuancebydefault 3y agoIt is a bit weird that lenders ask you for your "private key". If it is private, how can they even look up if it is you who shows them this number?
- rz2k 3y agoThese unique personally identifying bits of information are not private keys. Private keys on the other hand can remain secret even when someone is confirming their validity. To oversimplify a little, the way it works is that the private key is input into a one-way algorithm that generates an output they check against their saved values. If the output matches twice then they know you have the same key as the one you used in the past. They cannot used the output of a one-way algorithm to discover what the input was that generated said output.