I donâ€™t like these types of systems for three reasons:
First, they are non-consensual for the consumer. Companies such as IDology make deals with other companies, such as my bank, and then Iâ€™m forced to use the system.
Second, the information that such companies can gather are probably already being gathered by Choicepoint, Axciom, Google, and others. So the assertions that â€œits cheap for us, and expensive for the attackersâ€ are hard to accept as credible.
Third, if truth and your database donâ€™t agree, then weâ€™re forced to have a reconciliation process, in which I, or the id thief, convince the company to change its answers. How does that process work?
I hope John at IDology can respond at the same time he gives us concrete examples of how the system works in practice.