Petaluma, CA - Local aspiring entrepreneur, Dave Todson, was watching TV one late night when he saw a potential business opportunity.  He saw a commercial for LifeLock, that company where the CEO is constantly giving out his social security number.  Dave did a bit a research and learned that the CEO has a shady past but is now raking in the bucks by selling for $120 per year a service that you can perform yourself.

Dave then devised his own strategy for major success.  He got his family to invest $6000 in his business idea.  He then formed “BankLock”, a service aimed at protecting your bank account.  He then rented a moving truck and launched his advertising campaign. 

Needless to say, this story is farcical.  This company is bred on fear and is offering an expensive service that does little actual work.  In fact, the CEO was a victim of identity theft recently for $500.  The thief used his social security number at a check cashing place.  They don’t require a credit check, thus avoiding his “service”.   

Effective Oct. 31, 2007, all three major credit bureaus will offer credit freezes to any individual who requests one.

A credit freeze, in effect, places an electronic padlock on your credit report.  No one can review your credit report until you remove the padlock.  A credit freeze eliminates identity theft at its source—the ability of a criminal to obtain credit fraudulently.

Read more about this new tool here
http://nestmannblog.sovereignsociety.com/2007/10/freeze-out-iden.html

Be safe,
Ray