Is Identity Theft Services/Software Worth The Investment

Does anyone really know how many identity thefts have been listed? I don't believe so. Any figure you see today is probably inaccurate by a large number up or down. My guess the figure is much lower than is advertised.

In 2007, the Federal Trade Commission put the figure at about 9.3 million individuals. A recent report by the Justice Department estimates that 3.6 million households were victimized.

And does Identity Theft Services or software really protect you or is this just a service industry looking to capitalize on the identity of millions of Americans? I would say the latter is true. Just take a look at LifeLock, Inc. Remember Todd Davis, the CEO of LifeLock advertising his social security number; 457-55-5462 all over the TV and News advertisement? As a lifetime Information Security consultant, the first time I seen that advertisement, I thought, "Oh man" this guy is crazy. He is challenging the Hacker world to try and get his number.

Guess what they did and according to a new class-action lawsuit filed last week in Jackson County, LifeLocks' identity theft protection services were so inept that Davis’ personal information was stolen repeatedly. “While LifeLock has only publicly acknowledged that Davis’ identity was compromised on one occasion, there are more than 20 driver’s licenses that have been fraudulently obtained [using his personal information],” the suit states. “Furthermore, a simple background check performed using Davis’ Social Security number reveals that his entire personal profile has been compromised to the extent that the birth date associated with his Social Security number is Nov. 2, 1940, which would [inaccurately] make Davis 67 years old.” “Through its advertisements, LifeLock misrepresents and assures consumers that it can protect against all types of fraud including, without limitation, computer hacking, password theft and other noncredit-related theft,” the suit reads.

So LifeLock settled for a $12 Million dollar suit to pay those who were enticed by the marketing ad to join and pay the service fee, all the fees they paid.

Now, would you join LifeLock? I don't think so.

The bottom line on Identity Theft is YOU! It is all about being a little intelligent when you give out your personal information. You don't need the services that are advertised to protect your identity. You just need to be smart.

You don't have to stop shopping online either, or unsubscribe from your online banking account. Just use common sense when you are giving out your personal information to anyone or any service you are subscribed to.

A good password when you join an organization is the number one defense against would-be hackers. Remember that. Think about your ATM card.... How many times was that compromised? It is only a 4 digit number usually. The banks will protect your personal information and your assets under their internal policies.

So before you create your online account or your online banking forms....think about that password you create and make it unique so know one will guess it....and please don't use your family members name and especially your family Pet....

Happy surfing...