CPNs: The old scam with a new twist may become easier to combat – Part 1
8/17/2010
A recent story by the Associated Press (AP) details a purportedly new identity theft scam involving “dormant” Social Security numbers (SSNs)—that is, numbers issued but not yet used for credit purposes. The article explains that so-called businesses, generally under the guise of a credit repair organization, sell these numbers by calling them credit privacy numbers (CPNs). They make false claims about your “right” to use a number other than your SSN when applying for credit. There are even how-to videos on the web touting the use of these numbers to obtain a “fresh start” for your credit – a way to hide your current bad credit rating and start anew. The problem with this is, according to the FTC, it’s completely illegal.
