LifeLock ID Protection – An Overview
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 at risk for fraud when your personal information is stolen, of if a company sells your information without your permission, or knowledge. There isn’t a proven means of verifying what type of business is buying your information. The only think required is that they seem to check out as a possible lending institution. So, the better question to ask and answer would be in finding out why there are not stricter rules as to proof of lending.
There is no good reason for your private information to be sold, for any reason, however, that is the current means of your information having a chance of getting into the wrong hands. As a result, identity theft is currently a $200 billion dollar a year loss to companies and retailers. These businesses have had to resort to implementing their own Fraud Alert departments in order to track down and prosecute the offenders.
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.
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.
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.
One of the things identity thieves do is put in a change of address on your files so that any bills they run up will never get to your address. If you don’t know what they are doing, you can’t stop them. So, this service monitors for any changes to your information and then alerts you so you can stop it, or remove yourself from any mailing lists, which can also help reduce the junk mail you get each month. In reality, finding information about Identity Theft Protection Services online is easy, and shielding your credit can be a piece of cake.
If your wallet is stolen, a LifeLock specialist helps cancel and replace things like your driver’s license, financial cards, insurance cards, social security card, checkbook and travelers checks. Now armed with this information about id theft, you should be able to help protect your identity from being stolen. Keeping a close watch on all your credit activity is vitally important to every citizen. Before you buy this service, check out this LifeLock Coupon.
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