CPN, SSN, & EIN Fraud.
Based on Feedback from the Episode on Credit Scams such as tradelines, piggybacking, CPN numbers, Fraudulent SSN and EIN numbers and Identity Theft Scams, I an finishing this short series looking at each of these scams individually in a bit more depth and then showing you folks some alternatives that are legal, ethical, and Ultimately LESS expensive! This episode is part three of the series. Today I want tot talk about various form of identity fraud, specifically CPN numbers, EIN numbers and Fake SSN numbers.
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A common credit scam involves efforts to create and use a new credit file, essentially making your damaged credit reports irrelevant. This particular scam can be especially dangerous to you and it comes in 3 flavors – the CPN number scam, the EIN number scam and the SSN number scam. . A credit privacy number (CPN) is generally marketed as a 9-digit identification number that can be used in place of a social security number when applying for credit. An employer identification number (EIN) is how businesses identify themselves to the IRS. The fraudsters who run these scams will try to convince you that they can sell you a CPN or an EIN which you can use to create a new, clean credit file for yourself with all 3 credit bureaus. A credit privacy number, or CPN, is supposedly a nine-digit identifying number that you can use instead of your Social Security number, or SSN, to protect your privacy on credit documents. Sometimes CPNs are referred to as secondary credit numbers, or SCN numbers. Others may call them credit profile numbers. Whatever they’re called, officials say CPNs are bad news. First, they don’t actually exist, according to the Federal Trade Commission. Second, if you use any number in place of your Social Security number on a credit application, you are committing a federal crime.
EIN numbers in and of themselves are not inherently illegal. However, if you try to later use the EIN number in lieu of your social security number on a credit application then you have committed bank fraud. If you do it through the mail rather than online, you have potentially committed mail and mail and wire fraud as well.
The third of these scams is perhaps the most dastardly. There are those who try to sell you the SSN or somebody else. People who are deceased are the most popular. What this means is that you are essentially starting a whole new identity as some dead dude. Hardly fair to the system, and certainly illegal!
When you fill out an application for credit it asks you for your social security number and if you knowingly use a 9-digit number that is NOT your social security number then it’s hard to argue that you’re not committing bank fraud.
Now, let me say a bit more about EIN numbers. As I mentioned, EIN’s are used by business for federal and state tax identification. Think of them as the business version od a Social Security Number. You can totally, and legitimately set up credit in the name of a business you own. In fact, that is one of the ways you can make your credit bulletproof in that the credit belongs to the business, not you and if the business fails, then IT gets the bad credit, not you. These are not easy to set up. It takes specific steps with specific credit reporting bureaus and creditors. I cover this in great depth in my Ultimate Credit Repair course. If you are interested in learning how to make your credit bulletproof at that level, then I would invite you to check to the course at https://askalhow.com//credit-repair-course/.
