Identity theft can occur from on-line sources and from paper sources. A tenant application is a document, if not handled properly, ripe for identity theft.
Waltham, MA (PRWEB) November 18, 2014
Recently Home Depot reported a significant security breach, one that claimed the personal information of 53 million customers. (1) Combined with other recent breaches at Home Depot and Target, identity theft remains on the rise and in the news.
Adam Almeida, President and CEO of TenantScreeningUSA.com: “The exchange of information will remain a challenge, especially in situations where very specific and private information such as a social security number is required for data verification.”
Just as the occurrence of identity theft continues to increase so does the cost. And that cost is astronomical.
From the Motley Fool (Oct. 11, 14):
Take the recent Target breach for example, one of the largest in history. Consulting firm Javelin Strategy & Research put the total cost of "fraud losses" stemming from data breaches in the U.S. at $16 billion across all companies in 2013. (2)
Almeida states: “Identity theft can occur from on-line sources and from paper sources. A tenant application is a document, if not handled properly, ripe for identity theft. All the key information required to steal ones identity is included in that document.”
The information an Identity Thief requires is the same information typically used for a credit card application or a tenant application: Date of birth, Social Security Number and full name. Unfortunately, providing a social security number is a critical step in the application process.
From SFGate.com: (Date not provided)
“…you'll have to give your Social Security number to secure your rental and establish the necessary accounts… The majority of landlords who ask for a Social Security number are simply trying to get enough information to make your rental as safe as possible for all parties involved…” (3)
While it may appear to be an overwhelming situation for potential tenants attempting to protect identity and private information there is a solution for tenants.
Almeida states: “Using a highly protected and encrypted portal such as SmartMove® will greatly assist in protecting individuals from identity theft.”
SmartMove® is a tool that renters can use to keep personal information private and secure. Data is provided through TransUnion a global leader in credit information and information management services.
1. An account is created.
2. The tenant enters required information and transmits this to TransUnion via Email.
3. TransUnion compiles the data and only credit and criminal history transmits to the landlord/property manager. Critical data such as Date of Birth, SSN, and bank account information is masked.
4. A decision is made based on protected data.
Almeida states: “The critical component of this transaction, performing a tenant background check is the security of visible information. A tenant’s data is never fully revealed.”
There are a number of benefits to the renter.
1. Critical personal information and data remains private.
2. Application is processed quicker than a traditional application.
3. The credit data review is a “soft” hit and will not negatively affect credit score.
And all information is transacted through a highly secure and encrypted on-line platform.
Almeida states: “In light of all the recent breaches of credit card and personal information, and a continued threat of information loss on paper documents, tenant applicants are best served using SmartMove® through TenantScreeningUSA.com. Applicants can control privacy and information loss and take the worry out of paper applications.”
TenantScreeningUSA.com is a third-party tenant screening company providing a secure alternative to paper applications. In a time of increased identity theft, TenanatScreeningUSA.com assists in protecting the most critical and personal information. Designed as a tool for both landlords and tenants, TenantScreeningUSA.com is the right move to exchange tenant information.
Visit online at: http://www.TenantScreeningUSA.com