Perfect Business Model For Massive ID Theft!!

Discussion in 'Business & Economics' started by Read-Only, Aug 12, 2012.

  1. Read-Only Valued Senior Member

    Messages:
    10,296
    Has anyone seen the commercials for CreditKarma.com and thought about this? They make a BIG deal out of the fact that they will not ask you for a credit card number.

    Of course not - but they will certainly have to have your Social Security number to access your credit reports and that number will lead them directly to everything (including any/all credit card accounts) a thief would need to know to impersonate you.

    Now, understand that I'm not at all big on conspiracy theories. But it just struck me that this could easily be the most perfect scam ever devised. All they need to do is provide the service as advertised and keep their noses clean for three or four years. I figure the ads on their site will cover all their operating expenses so it would cost them nothing to keep it running that long. Meanwhile, all their satisfied customers (who have gotten exactly what they wanted) have told everyone they know - friends, family members and people they work with - how great the free service is and talk them into trying it also.

    So, by the end of the three or four years, they will have collected the personal info on MILLIONS of individuals. Then it would be a very simple thing to sell all that info for a *tremendous* amount of cash and head off somewhere with no extradition treaty with the U.S. And even if that's NOT the actual goal of the company itself, anyone in the organization with access to the database could easily pull it off. :shrug:

    Sweet, simple and job accomplished.
     

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