As the world wide web continues to pile up online identity theft court cases resources, we will attempt to deliver them to you….

In addition to the Key Bank story of yesterday, I remember a dozen or so cell phone accounts being opened in my name and racking up a couple thousand dollars in bills, but it was a relatively straightforward matter to sort it out. Yours is the true nightmare story.

In a matter of hours after the theft, new credit accounts were opened for dozens of purchases including the Cadillac. The purchases were astounding: big plasma, little plasma, handhelds, appliances, computers, fashion, groceries, trips, a rental Cadillac with bridge tolls and gas… And the greater problem of at least a dozen new credit cards, instant store accounts and cash cards accruing tens and tens of thousands in charges and fees.

The services provided for this type of theft are lousy. By freezing all my accounts and placing an alert, I could stop ongoing transactions, but also including mine! By spending hours per day over weeks and dealing with credit for months and months, my life came to a stop, went into reverse. While some companies were quickly cooperative, other firms required notarized accountings and signed police reports sent to one department and another, treated me rudely, and took hours to find the appropriate people.

I placed an in-person password on my checking accounts, requested new credit cards, new postal addresses, prepared written affidavit and xeroxed account records, 100s of phone calls and phone trees, police and legal consulting, witness and criminal actions, leaning on too many office counters — and there is no possibility for a victim to restore good ratings or recover all the losses.

There must be better systems for the victim of identity and financial crime.

The first step is greater knowledge for law enforcement so that advice is accurate, agencies are coordinated, and procedures are communicated politely. The second is adequate and ‘human’ response from credit agencies. The third is my suggestion: An instant but temporary escrow identity where the damaged accounts can be frozen and resolved while a new ‘escrow identity’ will allow the victim to carry on without blemishes and debt piling and piling and piling.