LifeLock’s Identity Alert System
More sophisticated tools allow LifeLock to offer more comprehensive protection against identity theft.
Recent news and magazine articles have made much of CEO Todd Davis’ decision to publish his Social Security number in advertising and his reliance on LifeLock’s service for protection. Critics of both Mr. Davis and LifeLock have pointed out that there have been 13 cases where his Social Security number was successfully used to open accounts or take out small loans, despite the protections offered by LifeLock – and cited these 13 cases as “evidence” that LifeLock’s service does not work.
In fact, LifeLock’s service did for Mr. Davis EXACTLY what it does for any LifeLock member, and his credit report remains spotless as a result. The LifeLock member services team made all the necessary phone calls and monitored his credit file. None of the incidents cost Mr. Davis a dime! Contrast this to victims of identity theft who often spend numerous hours, lose money, and suffer stress and frustration as a result.
Since 2005 there have been hundreds of unsuccessful attempts on Mr. Davis’ personal information; attempts that were stopped by the service provided by LifeLock. To his knowledge, there have been zero new incidents occurring over the past year.
For years, LifeLock has made it very clear that although no identity theft protection service can stop all identity theft, continuously developing new and innovative, proactive solutions can help. LifeLock’s most recent innovation is the Identity Alert™ System, developed in part as a response to innovations by identity thieves who work below the radar – not all loan applications or account transactions generate a credit check.
LifeLock Identity Alert™ System offers broader identity coverage and early notification of both credit and non-credit related identity threats by searching more than 45 million data points daily and 30 million consumer transactions each month. This advanced detection system works to identify fraudulent applications for many forms of both credit and non-credit related services, including many retail credit cards, mortgage loans, auto loans, as well as non-credit related transactions such as wireless services, utilities, peer to peer loans, and non-credit related payday loans. Working in concert with LifeLock’s existing services, the systems search for evidence of identity theft from online sources and within public records such as courts, correctional institutions, and sex offender registries.
LifeLock Identity Alerts, designed to be more comprehensive in scope than ever before, have provided more than 310,000 alerts to our members in the last eight months alone.
Tags: LifeLock, Todd Davis