CPNs, which stands for credit privacy numbers, credit profile numbers, or consumer protection numbers, have exploded in popularity in the credit repair industry, but they can have a dark side. Use of these numbers, marketed as a replacement for consumers’ social security numbers (SSNs), can land users in federal prison on felony charges. Tradeline Supply Company, LLC has compiled the most comprehensive guide to CPNs to date in an effort to alert the consumers to the dangers of CPNs and protect them from being taken advantage of by dishonest companies.
Read Tradeline Supply Company, LLC’s detailed guide to CPNs for an in-depth analysis of this phenomenon.
“Tradeline Supply Company, LLC feels a responsibility to educate consumers on the pitfalls that exist in the credit repair industry,” said Darren Iba, Operations Manager. “Having the power to protect people through education, we strive to be a force against fraud and feel compelled to get this information out to as many people as possible before they make mistakes that can alter their lives forever.”
As Iba noted, there is no legitimate way to obtain a CPN because they are not issued or recognized by any government agency. The Federal Trade Commission and the Social Security Administration have both confirmed that CPNs are illegal and that using them in place of a real SSN is fraud.
Right now, Ibasaid, the only way to get a CPN is to purchase a stolen or fake SSN on the black market. Often, so-called CPNs are actually SSNs stolen from children, the elderly, homeless people, deceased people, or those who are incarcerated. The rest are new, fake SSNs that have not yet been issued by the government. These are generated by algorithms and checked against databases to see which numbers can pass as SSNs.
CPNs are often used to commit a new and increasingly common form of fraud called synthetic identity fraud, which is the practice of creating fake personas through a combination of real and fictitious data. This phony identity is then used to open credit accounts and make thousands of dollars in fraudulent purchases. Since the accounts are not linked to real individuals, it is difficult to track down the perpetrators and collect the debts. This type of fraud is estimated to cause billions of dollars in losses each year, with untold damage to the victims whose identities are compromised.