Today's comment is from Mark Nestmann, LL.M., President of The Nestmann Group, Ltd., an international wealth protection consultancy, and the Wealth Preservation & International Tax Consultant for The Sovereign Society.

Dear A-Letter Reader:

Stealing someone's identity in the U.S. is almost as easy as falling off a log. Within a matter of minutes after finding your Social Security number and other identifying data, an identity thief can apply for a credit card and start making purchases using your identity. 

No wonder identity theft is the fastest-growing crime in the U.S. In just the last five weeks, more than 30 million Americans have had their personal data potentially exposed to identity thieves resulting from computer theft or hackers invading supposedly "protected" databases:

•  May 22, 2006: 28.7 million identities exposed. More than 26.5 million veterans' personal information was swiped when a laptop was stolen from a U.S. Veterans' Administration employee's home. The laptop also contained personal information on 2.2 million active-duty, National Guard and Reserve troops. That amounts to more than 50% of current U.S. military personnel.
• June 1, 2006: 1.3 million identities exposed. The Texas Guaranteed Student Loan company announced that 1.3 million customers were at risk of ID fraud after a contractor lost unspecified "computer equipment"
• June 6, 2006: 72,000 identities exposed. Officials with Ohio's Buckeye Community Health Plan notified authorities that four computers were stolen from their Columbus office, containing 72,000 Medicaid subscribers' personal information. 
• June 8, 2006: 65,000 identities exposed. The YMCA announced that a laptop stolen from an office in Providence, R.I. held credit card and Social Security numbers, as well as checking account data and names, addresses and medical information about approximately 65,000 children (and their parents) participating in YMCA day-care programs.
• June 14, 2006: 2,400 identities exposed. Officials in Minnesota revealed that three laptops had been stolen from the state auditor's office, containing private information on 2,400 public employees and citizens who use government programs.
• June 17, 2006: 13,000 identities exposed. A laptop containing Social Security numbers and other personal data of 13,000 employees and retirees of Washington, DC was stolen from the home of an employee of ING U.S. Financial Services, the city's retirement plan administrator.
• June 18, 2006: 970,000 identities exposed. Insurance giant American International Group (AIG) announced that it lost personal identifying information on about 970,000 consumers after a burglary at an undisclosed office in the Midwest.

Fortunately, only a tiny percentage of people with compromised identities actually become victims of identity theft. For instance, in laptop thefts, most thieves just want to sell the laptop for a quick profit, and are unaware of the treasure trove of personal data it might contain. 

But the statistics are grim. In 2005, at least 130 reported security breaches exposed more than 55 million Americans to potential ID theft. For 2006, it's almost certain that total will be exceeded.

One of the most frustrating things about the alarming increase in identity exposure is the companies and agencies involved don't seem that concerned about it. Amazingly, much if not most data that's stolen or compromised isn't protected in any way, even by a password. 

Congress doesn't seem to care much about the problem, either. Indeed, the House is poised to pass a weak anti-identity theft law that will preempt much stronger state laws.  The bill, the Financial Data Protection Act, is strongly backed by credit bureaus and the banking industry.

For instance, the proposed law would eliminate the ability residents of 18 states have to place a "credit freeze" on their credit records-to block all access by credit grantors to their credit record. Under the bill, credit freezes will only be available to actual identity theft victims. That's like saying drivers can't wear a seat belt until after their vehicle has been sideswiped by a tractor-trailer. 

Since big business and big government don't seem to think identity theft is a problem, it's left to YOU to protect yourself. 

The most important precaution is to guard your data. If someone knows your name, date of birth, SSN and residential address, they have enough information to steal your identity.  Don't give out this information unless you have no choice.

For instance, when I fill out a form that asks for my SSN, I usually leave the entry blank.  If it's really needed, whoever processes the form contacts me. This rarely happens, but when it does, in almost every case I've been able to avoid disclosing this information, or be assigned a substitute number. 

Many identity thieves target residential neighborhoods by stealing mail from unlocked mailboxes. Other "dumpster divers" sift though bags of trash looking for correspondence from the IRS or anything else containing SSN or credit card data. Protect yourself by receiving your mail in a locked mailbox (preferably a post office box, not your residential address). Also buy a shredder and destroy all documents that contain your identifying information before throwing away the pieces.

In a society where individual sovereignty was respected, you'd own the property rights to data about you. Anyone holding information about you couldn't sell, rent, trade or otherwise exchange that data without your consent. 

This isn't likely anytime soon, so in the meantime your best bet is to minimize disclosures any way you can. 

MARK NESTMANN, Wealth Preservation and
Tax Consultant, on behalf of The Sovereign Society 

 Internet Privacy Guaranteed

 If you are concerned about your Internet privacy look no further because Mark Nestmann is on the case. "I have found a practical solution to prevent both government snoops and wi-fi pirates from eavesdropping on your Internet communications," says Nestmann, Wealth Preservation and Tax Consultant for The Sovereign Society.

Please click here for more information. 

 Just Got Back from Tokyo...

 Not-So-Private "Privacy Policy"

It appears AT&T is tired of being sued for their alleged sharing of customer info with the National Security Agency. AT&T is enacting a new privacy policy that basically says they own your personal information. According to the new policy (which went into effect last Friday), AT&T "owns customers' confidential info and can use it "to protect its legitimate business interests, safeguard others, or respond to legal process." That means AT&T can legally give your information to law enforcers if they feel like it. And they're going to be tracking your viewing habits including video. The AT&T spokesman says this new policy "makes the language clearer and easier customers to understand." Yes, thank you PR person, the new language makes the lack of privacy very easy to understand. Click here for more information. 

In 2004, more than nine million Americans had their identity stolen and approximately 1.8 million were sued. And laws like the USA PATRIOT Act greatly expand warrantless searches and permit government property seizures without proof of wrongdoing.

Big Business and Big Brother want to keep you and your wealth in plain sight, to be profitably tracked and conveniently seized. However, you can still legally create international 'lifeboats' of wealth and privacy that are practically invulnerable to snooping or confiscation.

Click here to learn more:
LINK: http://www.isecureonline.com/reports/190SLIFE/E190G643/