Startups Offer Protection from Identity Theft

Startup Journal:

Scott Mitic thinks it is far too easy to be ripped off by identity thieves, and he is making it his business to do something about it.

As a former executive at Fair Isaac Corp., a Minneapolis data-management company, Mr. Mitic watched millions of people wake up to the importance of credit ratings, like the company’s FICO score that can make or break a person’s ability to buy a home or finance a new car. A 2003 federal law gave consumers free access to their credit reports once a year, increasing awareness of what could go wrong. Errors often could be a problem, but more recently Mr. Mitic noticed that fraud from identity theft was spawning a growing market for consumer protection.

In January, Mr. Mitic, 36 years old, co-founded TrustedID, of Redwood, Calif., to help consumers better protect their financial information and credit by preventing fraud before it happens or stopping it from continuing. His company isn’t alone. A slew of small, technologically adept companies have been popping up to help both consumers and the companies they do business with keep fraud at bay.

One of the best things you can do to prevent identity theft is to install a locking mailbox. I recommend the Secure Mail Vault.

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