![]() ![]() So, of course, the best thing to do is to create a way for lenders to instantly check to see if a Social Security number is valid or not, and as of now, they do not have the capacity to do this. Why? Because the SSA requires a handwritten signature from the person who has that SSN, and this is ![]() Technically, a lender can contact the SSA and cross-check, but most of them don’t. This makes it difficult for a lender to notice a fake one. The Social Security Administration generates Of course, using a CPN like this on an application for credit card or loan is illegal, but lenders currently don’t have a conclusive way of distinguishing a real Social Security number from one of these fake ones. Basically, it is easy to create a credit file on these identities, and once they have that, they can get a credit card or loan. This type of identity theft shows us that our credit system is more vulnerable than we might think. They also often use fake Social Security numbers, called CPNs, or “credit profile numbers,” or names. Basically, the criminals take information from someone, and then make up the rest. Cyber criminals are constantly trying to stay one step ahead of the good guys, and there is now another scam out there that you should know about: synthetic identity theft.
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