Securing Credit Inquiries: The Role of Real-Time User Approval in Preventing SSN Identity Theft

Unauthorized credit inquiries are also a central entry point for identity theft, with Social Security Numbers (SSNs) being widely utilized in fraudulent cases. Traditional credit inquiry systems do not usually possess strict user authentication, making them vulnerable to unauthorized access. This paper proposes a real-time user authorization system to enhance security by enforcing explicit user approval before processing any credit inquiry. The system employs real-time verification and approval techniques. This ensures that the authorized user only approves or rejects a credit check request. It minimizes the risks of interference by third parties. Apart from enhancing security, this system complies with regulations like the General Data Protection Regulation (GDPR) and the Fair Credit Reporting Act (FCRA) while maintaining a seamless user experience. This article discusses the technical issues, scaling-up issues, and ways of implementing real-time user authorization in financial systems. Through this framework, financial institutions can drastically minimize the risk of identity theft, avert unauthorized credit checks, and increase customer trust in the credit verification system.

Authors

Publication Details

Journal
Journal of Information Systems Engineering & Management
Published
2025-04-11
DOI
https://doi.org/10.52783/jisem.v10i35s.6011
Primary Topic
FinTech, Crowdfunding, Digital Finance
Type
article
Field-Weighted Citation Impact
0.00
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article

Securing Credit Inquiries: The Role of Real-Time User Approval in Preventing SSN Identity Theft

Gogulakrishnan Thiyagarajan
Journal of Information Systems Engineering & Management
FinTech, Crowdfunding, Digital Finance
article

Securing Credit Inquiries: The Role of Real-Time User Approval in Preventing SSN Identity Theft

Gogulakrishnan Thiyagarajan
article en

Abstract

Unauthorized credit inquiries are also a central entry point for identity theft, with Social Security Numbers (SSNs) being widely utilized in fraudulent cases. Traditional credit inquiry systems do not usually possess strict user authentication, making them vulnerable to unauthorized access. This paper proposes a real-time user authorization system to enhance security by enforcing explicit user approval before processing any credit inquiry. The system employs real-time verification and approval techniques. This ensures that the authorized user only approves or rejects a credit check request. It minimizes the risks of interference by third parties. Apart from enhancing security, this system complies with regulations like the General Data Protection Regulation (GDPR) and the Fair Credit Reporting Act (FCRA) while maintaining a seamless user experience. This article discusses the technical issues, scaling-up issues, and ways of implementing real-time user authorization in financial systems. Through this framework, financial institutions can drastically minimize the risk of identity theft, avert unauthorized credit checks, and increase customer trust in the credit verification system.

Journal of Information Systems Engineering & ManagementVol. 10(35s)
Openalex Percentile: Top 89%
FinTech, Crowdfunding, Digital Finance
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