21 October 2016
Dean Procter

Dean Procter

Dean Procter - Transinteract

329Posts 1,001,435Views 467Comments


A place to share stuff that isn't at all fintec related but is amusing, absurd or scary.

Freeze Fraudsters Out Of Your Credit File Coming Soon

21 October 2008  |  2262 views  |  1

Nick Clegg, leader of the UK Liberal Democrat Party, and David Howarth, MP for Cambridgeshire announced their new party policy on protections against identity fraud during a recent visit to Cambridge Labs to watch a CHIP and PIN attack demonstrated.

Credit rating companies are exempt from aspects of the Data Protection Act and can forward personal information about an individual’s financial history to companies without the subject’s consent.

Nick Clegg proposes to give individuals the rights to “freeze” their credit records, making it more difficult for fraudsters to impersonate others.

All they have to work out is how - and how to unfreeze it. Current identity methods will probably fail. Perhaps you could freeze/unfreeze it with your mobile phone?

It's certainly a step in the right direction.

Someone missed an opportunity to lead the way and now the government is doing it.

There might have been a better outcome for the credit rating providers if they'd chosen to show some ethical leadership like Nick.

Nick Clegg,  leader of the Liberal Democrats TagsRetail banking

Comments: (2)

Roger Elwell
Roger Elwell - Yes Please - Colchester | 21 October, 2008, 09:17

Perhaps we need a petition.

Actually, I started one on the No 10 Downing Street, to petition the government to make it mandatory for CRAs to independently check with the subject before they release a reference.



Maybe some like-minded people would like to sign it.

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Dean Procter
Dean Procter - Transinteract - Sydney | 21 October, 2008, 10:11

Good work.

I'd be up for it but don't qualify unless I take up British citizenship (on the cards).

If they claim cost is an issue I'm sure we can find a way to do it economically. Anything less than the cost of ID fraud is a monetary win, but it is worth almost any price to prevent the inconvenience and frustration suffered by victims.

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Comment on this story (membership required)

Latest posts from Dean

Financials Named As Customers of Child Porn Planting Hacking Team

06 July 2015  |  1993 views  |  0 comments | recomends Recommends 0 TagsSecurityRisk & regulationGroupWhatever...

In case you wondered...

02 March 2015  |  793 views  |  0 comments | recomends Recommends 0 TagsInnovationGroupWhatever...

Coal is a dirty business.

02 March 2015  |  1178 views  |  0 comments | recomends Recommends 0 TagsRisk & regulationGroupGoing green

It makes perfect sense of course, to have a Plan

03 October 2013  |  2862 views  |  0 comments | recomends Recommends 0 TagsMobile & onlinePaymentsGroupInnovation in Financial Services

iPhone fingerprint scanner broken by Chaos

22 September 2013  |  3600 views  |  3 comments | recomends Recommends 0 TagsSecurityMobile & onlineGroupInformation Security

Dean's profile

job title CEO
location Sydney
member since 2008
Summary profile See full profile »
Ubiquitous mobile phone based payments, ID, transaction authentication, mobile wallet and transport ticketing.

Dean's expertise

Who's commenting on Dean's posts