LifeLock ID Theft Prevention – A Brief Review
FACTA also forced lenders to verify your identity before they loan you any money, which is very good for you. But, there are many online banks, now, and if you are not there in person there is no way they can truly verify who you are, or aren’t. This is where the problem begins and you end up with someone stealing your identity and running up a huge debt in your name.
This means you are still wide open to fraud if your personal financial information gets stolen, or they buy it from some business that retails credit information. Credit bureaus are allowed to sell your information to any business that seems to have a valid reason for needed the data. The biggest question would be why they would have any valid reason to obtain your Social Security number, let alone your address, phone or place of employment.
With all of our right to privacy forms that we have to sign every where we do business, from doctors’ offices to banks, you’d think it would be impossible for a credit reporting agency to sell your information. But, the fact remains that Identity Theft results in over $200 billion dollars a year being stolen from big businesses. As a result, they all have their own Fraud Alert departments, and spend millions tracking down and prosecuting these criminals.
LifeLock provides Identity Alert System that constantly scans off known databases found on the Internet, membership rosters and other sources where you may have entered your information without realizing it was open to fraud. When any activity occurs on your file for borrowing money a team of specialists step in to find out what is going on and help you clean up the mess.
They provide a million dollar Identity Theft Insurance which will help cover your expenses, including legal fees, if you need them. It does not cover loss of wages, business profits, direct out of pocket or business costs, nor does it cover any lost opportunities.
Another of their services is scanning know criminal web sites where any bits of your personal information may have been posted. Such information includes your street address, phone number, social security number, or mother’s maiden name. Should any information appear they alert you and help in beginning the clean up process.
Along with those scans they check for changes to your address and alert when with anything suspicious, they even request having your name removed from mailing lists that are known to sell information to potential theft sites. Pre-approved lists are included in this in case you signed up for something, but didn’t want the junk mail. You see, researching identity protection services on the Internet isn’t so hard.
If your wallet or purse is stolen, one of the LifeLock specialists is on the job helping you cancel or replace such things as your driver’s license, social security card, insurance and financial cards, even checks and travelers checks. Equipped with this knowledge about identity theft insurance, you should know how to help prevent, or stop, your identity from being misused. It is crucial that you keep a vigil on your credit activity to protect you and your family. For those who have decided to use these identity theft prevention services, this LifeLock Review is worth checking out.