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San Diego Company Joins Fight Against ID Theft

POSTED: 8:45 pm PDT July 28, 2006
UPDATED: 9:14 pm PDT July 28, 2006

In May 26 million veterans were put at risk for identity theft when a laptop containing personal information was stolen.

That crisis has now passed, but what can be done to keep personal information safe in the future?

Welcome to Pine Valley, where townsfolk gather each morning to solve the world’s problems. The topic on this day is identity theft.

Gray Stanard is a veteran, reflecting on the Department of Veterans Affairs’ notorious compromise of private information on 26.5 million vets like him.

“There is no safeguard for anything. I’d like to think we’re pretty well secured and not so easily accessible,” said Stanard.

Veteran Jack Harper agreed that identity theft is a scary proposition.

“It’s made me think I’m more vulnerable than I thought,” said Harper.

In truth, everyone is vulnerable.

But a San Diego company may have created a solution to these fears.

Mike Cook is a co-founder of I.D. Analytics. He said the trillions of pieces of information in his company’s data banks are absolutely secure, and if they are breached could be used to go after identity thieves.

“We have the ability to see patterns if there is misuse in a file,” said Cook.

How does the breach monitoring system work? Just say identity thieves tried to open 100 new credit accounts with purloined veterans' information.

“If all 100 accounts have the same address, phone number and other information that looks really suspicious, we would go after them,” said Cook.

But stopping identity fraud isn't that simple.

Cook said it's like a water balloon: Squeeze one end and the thieves go to the other end. The key is catching them quickly.

“We've done the research and because of that, we're the only ones who can do that today,” said Cook.

Cook said he would like to share this breakthrough with the Department of Veterans Affairs.

“I think this could be very promising in the fight against fraud,” said Beth Givens of Privacy Rights Clearinghouse.

Givens said it is good news for veterans like Stanard or anyone who worries about identity thieves.

“I hope they will do anything to protect my identity,” said Stanard.

Experts said about 300,000 veterans could become victims of identity theft because of the recent security breach.

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