Identity protection through the practice of consumer privacy can prevent a medical identity theft. The average medical identity theft costs $20,000.
Medical identity theft
Medical insurance benefits are stolen by identity thieves when the policy holder’s coverage is claimed by an identity thief.
Bank secrecy is essential to prevent the theft of financial assets that may become vulnerable when a medical identity theft is committed.
Preventing medical identity theft damages with banking privacy
A medical identity fraud can cost the consumer plenty. Aside from having medical insurance information stolen, one whose stolen identity is used by an identity thief can risk other monetary losses. These losses can occur when a fraudster discovers bank and credit card information and defrauds the identity theft victim by using the stolen identity to steal bank and credit line accounts.
Financial privacy and the trust bank account
A trust bank account will provide a degree of financial privacy when a medical identity theft occurs. Often, the identity thief can uncover banking information of an individual bank account holder with the identity information gleaned from a consumer following an identity theft.
Through the use of a trust checking account with the Employer Identification number of the trust as the account tax identifier, a consumer can shield his personal identity information from an identity thief. A financial privacy invasion can often be avoided through the use of a trust bank account and other financial privacy principles and consumer privacy concepts.
Prevent credit card fraud
Credit cards and credit lines can be kept secret when credit bureau files are “frozen” and credit card information is kept under lock and key in anonymous safe deposit boxes with no ties to the identity theft victim-even after an identity thief has stolen an identity.
Bank secrecy, identity protection, anonymous safe deposit boxes, and all aspects of privacy living are covered in detail in Privacy Crisis; Identity Theft Prevention Plan and Guide to Anonymous Living.
Readers may be interested in a free identity theft prevention course that is offered by e-mail. Do you want to learn how to establish banking privacy? A free e-mail course is available on banking privacy.
The e-book, Privacy Crisis may be purchased and downloaded within five minutes from now.