LifeLock: What LifeLock Can Do For You?

LifeLock is a business entity that provides protection for identity theft. It is established in the United States in 2005 and has become the leader in the industry. Identity theft has grown to be a great threat to all Americans, hence, protection services have also boomed.

It has become easier for thieves to steal personal information of somebody with the use of modern technology such as the internet. Thieves were able to apply for credit card, loans and other non-credit related transactions like wireless services, utilities and check orders and reorders. According to reports, identity theft has increased by 22% in 2008 and has affected 4.32% Americans or approximately 10 million. Total loss also account for $48 billion.

Its feature includes monitoring of credit activity and also service account applications. Its Advanced LifeLock Alert systems alert its members for every piece of identity information being used for any type of application. It informs its members through phone, email and postal mail of every suspected activity. It locks down information before thieves can get anything.

It assures its members it would repair theft outcomes of up to $1,000,000 should they become victim of identity theft while under membership.

The company charges $15 per month when you enroll. The system has several features, namely:

* eRecon. It monitors the internet for any illegal selling of information. It watches over 10,000 criminal websites.

* WalletLock. When a wallet is lost or stolen, a representative helps the member contact the banks, credit card companies and other document issuing companies to cancel all the accounts and request for replacement of lost cards and documents.

TrueAddress. The members will be alerted for any request for change of address especially when the request does not match information available from various address databases.

* Free Annual Credit Reports. The company requests copies of free annual credit reports to be sent to all the members. The report would allow the members to check any discrepancy or problem.

* Reduced Pre-Approved Credit Offers. The company removes its members from the mailing lists of those offering pre-approved credit.

* 24-Hour Customer Service. The company offers daily 24-hour assistance in addition to access to myLifeLock website.

However, the U.S. Federal Trade Commission and 35 state attorneys accused LifeLock of failing to protect its customers against identity fraud and put customer data at risk. One bold promotional move that failed was when they put in one of their advertisement the social security number of Todd Davis, the founder and Chief Executive Officer, which consequently enable someone to get a loan of $500 in his name. Another controversy happened in 2008 when a credit information company accused LifeLock for alerting its customers with false credit fraud alerts.

The company was charged with $12 million to settle the lawsuits. This controversy has made the credibility of such services questionable. How can you entrust your personal information for something like this? In the end, protecting yourself from this theft should come from within. To protect you, be vigilant in safeguarding your personal relevant information.

Everyone is familiar with identity theft. That is why they try to secure lifelock just to protect them against these perpetrators. They want to feel safe and secure that these people do not touch their pertinent information like their SSS, credit cards and other vital documents. Try credit monitoring services