Company Offers Credit Reports Over Internet Critics Say Service Is An Invitation To Fraud

One of the nation’s largest credit bureaus is making individuals’ credit reports available on the Internet, alarming privacy advocates who say the move could help fraud artists.

Experian Inc., formerly known as TRW Information Systems & Services, launched its Internet service in most states on Wednesday, the Washington Post reported Friday.

The service is designed to allow consumers to conveniently see their own credit reports.

For an $8 fee, individuals can look at the reports, which include information about their loans, payment patterns, past addresses and other details, after providing a Social Security number, a personal credit card number and other private information.

But some say the service might not be enough to keep out identity thieves, who use such information to pose as another person and commit fraud.

“That’s the very worst thing they could do,” said David Szwak, a Louisiana attorney who specializes in cases involving identity theft. “They’ll be facing a lot of litigation.”

A spokeswoman for Orange, Calif.-based Experian said the company delayed opening the Internet site until officials were confident of the security measures.

“We have to be realistic. This is how consumers conduct their personal business and we feel that we really want to meet that need,” said Maxine Sweet, Experian’s vice president for consumer education.

“We can’t stay in the dark ages,” she said.

The Social Security Administration in April closed a service on the Internet that allowed individuals to access their “Personal Earnings and Benefits Estimate Statements,” records used in retirement planning.

That site required users to provide their name, Social Security number, address, mother’s maiden name and other information in order to access the data.

Some privacy and consumer groups applauded Experian’s move, arguing that computer access will make it easier for people to review records and correct mistakes.

“People have a right to information,” said Marc Rotenberg, director of the Electronic Privacy Information Center in Washington. “This information is widely disseminated for all sorts of purposes.”