Why do you need banking privacy? How can financial privacy help avoid bank identity theft?
Banking Secrecy and financial privacy are necessary measures to take when protecting privacy is a priority, whether your goal is to prevent identity theft of the garden variety, or avoid bank identity theft. Identity theft criminals gravitate toward the money, and when your bank secrecy is at a high level, without mention of your name or Social Security number on the account title, id thieves will be hard pressed to tap into your account while using common pretext scams that are normally a part of the identity theft criminal’s mode of operation.
Often, agencies’ and private companies’ men and gals are hired to locate the assets and bank accounts of those suspected of owing someone or an agency. Based on many mistakes made by these hired guns, you as an innocent asset holder or account holder may be mistakenly targeted, and it behooves you to keep all assets-bank accounts, investment accounts, real property investmets, even your home, if you own one, under the radar. And while protecting privacy is always more expensive and more labor intensive than living as the masses live, the identity theft “insurance” one receives for privacy living can easily pay for itself when a personal or business bank identity theft is avoided.
This author believes the best way to stop identity theft, specifically bank identity theft is through these key identity theft prevention measures:
1. Protect privacy at home with the “invisible mortgage” while keeping the source of funds used to buy a home your secret.
2. Keep personal money under the radar. Trusts, check cashing stores are resources worth your consideration.
3. The Nevada Limited Partnership has been used to hold liquid investments for privacy protection and asset protection.
4. A Nevada Limited Liability Company has been used to hold certain businesses when the goal is business privacy and protection.
Key to utilizing all of the above is the proper registration of the entity. We like the Trust Manager Princple for protecting privacy of management.
You may be interested in receiving our Free privacy e-mail courses. We offer these as a service to prevent identity theft and other privacy-invasive crimes.
Our Privacy Crisis series of books provide managers and consumers with high-level privacy principles to avoid bank identity theft and property and business seizures.
You may want to subscribe to this blog written by Grant Hall, author of Privacy Crisis and Privacy Crisis Banking.