LifeLock Identity Fraud Protection Services – A Review


You may not be aware of the fact that the credit reporting agencies actually sell your information to lending institutions. This is how the credit bureaus started out making their money. Now, they still sell your information along with selling you a subscription based service that is supposed to allow you to monitor the activity on your report. This changed in 2003 when FACTA was passed and requires them to allow you to place a Fraud Alert on your account in the event your identity is stolen. This article could help you know more about stopping identity theft. But before purchasing any identity theft services, you should really check out this LifeLock Review.

Not only did FACTA force credit bureaus to allow fraud alerts on your record, this forced banks and other lending institutions to verify your identity before loaning you money. This is good for you, if the attempt to borrow funds in your name were conducted in person. However, there are many online banks that have no means of seeing what you look like, or taking a picture of you to compare with anything else.

There is no way you can stop your identity from being stolen, there are too many variables involved. With the credit bureaus selling your information there is always a chance that it will end up in the wrong hands. However, you can make use of the services of companies that are in business to alert you when something is going wrong. This will at least slow down the use of your Social Security number, phone, address and place of employment.

Most individuals fail to see a sufficient reason for their credit information being sold, but as long as creditors are still allowed to do so, your information can be obtained and used. Which is the reason identity theft is currently a crime costing over $200 billion dollars a year in lost revenue for businesses. Most large companies now have their own internal Fraud Alert departments working round the clock to track down and prosecute these thieves.

LifeLock is an Identity Alert System which continuously scans all public databases from those found on the Internet to membership rosters. Anytime it detects activity concerning your personal information being used to open an account or borrow money their remediation team will step into action and find out why, then help you undo the mess.

Another feature of this service is a million dollar Identity Theft Insurance policy, which covers your expenses in credit repair and includes paying legal fees, should you need them. This one does not pay for loss of wages, direct business costs or out of pocket expenses, or loss of profits or lost opportunities.

One of their services keeps scanning thousands of known criminal web sites looking for any bits of your information such as street address, last four numbers of your social security number, phone number and other details. If they find something they will alert you and then help you in getting started with resolving the problem.

Another feature scans for changes of address and notifies you of any changes which look suspicious, even request removal of known mailing lists which can be potential sources of identity theft. This includes pre-approved lists which you may have signed up to, so you know what is happening and can be removed from Junk Mail sources. The truth is, acquiring advice about identity protection services on the web is more than easy. And understanding how it all works will help protect you and your family from the wily schemes of thieves.

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 protection reviews, 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.

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