Importance

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Abstract

An identification verification system designed to prevent identity theft and financial fraud. Individuals are given or select identification codes which replace the commonly used social security numbers (SSNs). In order to access an individual's credit report or other financial records or open a credit account, the individual's identification code must be provided. Individuals, therefore, no longer have to provide their SSN in order to verify their identity. An individual's identity is verified only if the identification code submitted by the individual matches their identification code as found in a database. Individuals may choose to have their identification codes automatically changed periodically, or may choose to change their identification codes themselves as often as they wish. Identification codes are preferably changed upon each access to the individual's credit report or credit account opening.

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First Claim