CSIDentity

CSIDentity

By Eric Pulsifer Friday, 22 May 2009

It is predicted 15 to 18 million Americans will be victims of some form of identity theft this year. That number will be up from 12 million cases of identity theft last year.

CSIdentity Chairman and CEO Bill Morrow said cases of identity theft increase every year: from 300-400 cases a year in the ’80s to 80,000 cases a year in the ’90s.

“Identity theft, fraud and fabrication are big issues; they’ve always been big issues for businesses, but over the past five to seven years, they’ve become bigger issues for consumers,” Morrow said. “People are required to have car insurance, but you have a much greater chance of getting hit by identity theft than getting in a car accident.”

Founded in 2005, CSIdentity has around 60 employees based out of its corporate headquarters in southwest Austin, with additional workers at a research division in San Diego.

“We believe by the time you’re 40, your identity exists on 100,000 computers around the world,” Morrow said. “Identity theft is the fastest growing and least-risk/highest-reward crime in the world, according to the FBI.”

CSIdentity offers several levels of service for different clients. For example, businesses receive in-depth security evaluations, assistance with background screenings and profiles on who they are doing business with — all attempts to prevent data breaches and theft.

If a breach occurs, CSIdentity provides an emergency preparedness plan to manage the situation and minimize the damage done.

“Companies can lose a lot of their value and a lot of their customers following a data breach,” Morrow said.

Beyond using their own information, some employers provide identity theft protection through CSIdentity to their employees.

The protection and monitoring services available for individuals center around a monitoring service that allows users to keep tab of how their identity is being used, including updates on financial records, criminal reports and more.

Morrow said it is wise to regularly check credit reports, but with 47 different types of identity theft, individuals relying on credit reports alone to protect their identity are still at risk.

“The bigger thing is getting all these different groups [banks, credit card companies, police, etc.] to believe you’re not the fraudster,” he said. “Criminals are going to steal your stuff in good or bad times, but in tough times, more people are challenged and that can lead to an increase in these types of crimes.”

What CSIdentity monitors to prevent identity theft

Credit reports and loan activity — Monitoring of credit inquiries, bankruptcies, new loans and payday loans that do not require credit inquiries

Court records — Checking for criminal actions associated with a subscriber’s name, date of birth or Social Security number

Public records — Searching for misuse of names and addresses associated with a subscriber’s name and address

Address change request — To alert of address change requests

Internet surveillance — Monitoring of websites that deal in the criminal selling and trading of personal information online

CSIdentity, 7500 Rialto Blvd., Ste. 260, 1-800-805-7004, www.csidentitiy.com