Consumer Reports calls id protection puffed up

February 13, 2012 – 12:23 pm

Americans spend an estimated $3.5 billion on identity theft protection services each year, but Consumer Reports now says it’s a waste of money.

Consumer Reports Money Adviser wrote recently that the rate of identity theft is declining and claimed that identity theft protection companies “puff up” the power of their services. The Adviser looked at about two dozen plans, costing $120 to $300 per year.

The Adviser went on to state that consumers should obtain their free credit reports each year and review them for suspicious entries, and place security freezes, as well as sign up for free alerts from their credit card issuers. The article also advised that consumers regularly check their credit card statements.

But what the report failed to note is that each of these actions are, in fact, reactions. They do nothing to prevent identity theft – in fact, nothing can prevent it. But watching for suspicious activity will only serve to tell a consumer that identity theft has already happened, and by the time he can take action, damage may already have been inflicted.

Aside from that, the methods prescribed by the Adviser only account for the activity on one’s credit report. What about everywhere else?

LifeLock is the industry leader in proactive identity theft protection. With LifeLock, you won’t be the watcher on the wall – LifeLock will. And your credit reports won’t be the only place LifeLock looks for your information. LifeLock watches out for your personal information in hundreds of databases, and on the black market, where your information would be bought or sold if stolen.

With LifeLock, you will pay for the services you get. But the services you get are invaluable. Just ask a LifeLock customer.

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