For the most part, identity theft prevention techniques in use today are passive in nature, meaning that they occur after the fact. Have you ever walked into a store, made a large purchase, and put it on a credit card which required only the swipe of a card and a signature? You might think to yourself,
"How do they know it's really me?"
How indeed! Often times, financial institutions do not know for sure. If you follow the instructions on most cards, which claims that the card is not to be accepted without a signature on the reverse, you are actually INCREASING your level of risk! If you follow such instructions and someone steals your card, they often have all the information they need to complete a purchase. We all know that signatures on most point-of-sale devices at the counter do not look anything like our normal signatures, so that's no help. Thieves often make false IDs to associate with their efforts, so even if a clerk requests to see the card and/or ID, there's little chance that they will detect an issue.
||If your card provider fails to detect fraudulent transactions, YOU are responsible for identifying and reporting these transactions in a timely manner.
It gets worse...
You need to be aware that until the card provider clears your account of the transaction, you may remain responsible for all or a portion of the charges. Even if your provider does not require you to repay the funds, your account may be restricted from further use until the card can be replaced. What if this happens while you are on vacation? The stress of such a situation is enormous, and it is entirely unnecessary.
The Multi-use Passport IDentification (MPID) system is a one of a kind identity authentication system which will provide security for both corporate and public use. Securing credit cards is just one of the many applications that the system supports in order to reduce theft and fraud arising from false identification. Imagine removing all forms of identification from your wallet/purse (credit cards, licenses, medical cards, membership cards, etc.) and replacing it with just one card (or memorized number) which has security measures that YOU can control. Imagine never needing to concern yourself with identity theft and fraudulent access to your financial accounts. Imagine never needing to fill out a form at a doctor's office, rental office, online retailer, or the numerous forms associated with employment. That time is coming soon, with the release of the MPID system!
The MPID system provides true identity theft prevention to individuals and organizations by rejecting transactions before the acts of theft can even begin to occur. You deserve better protection!
Here's how you can help...