Identity-Theft Monitoring Services Offer False Sense of Security

Posted by Kara Reeder Jul 31, 2008 1:46:35 PM

If you think identity-theft monitoring services provide you with more protection, you're wrong, according to an online guide by the Privacy Rights Clearinghouse.

Monitoring services can detect new-account fraud, says guide author Paul Stephens. But they don't pick up misuse of existing accounts, the fraudulent use of personal information or debit and check card fraud.

PCR claims most services are overpriced and do not offer full protection, reports InfoWorld. Stephens suggests people make sure there are no lower-cost alternatives.

One such alternative might be Debix, which recently lowered its price to $24 a year for individuals, according to The San Francisco Chronicle. PCR doesn't endorse Debix, but Stephens calls it a "good value."

You can check out the guide here.

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Add a comment Leave a comment on this blog post.

Jul 31, 2008 2:52 PM

Derrick Carpenter says:

What consumer groups always fail to realize is that without exception most people don't change their smaoke alarm batteries every six months or visit the dentist for that bi-annual ritual either. people are busy...yes too busy to remember to place a fraud alert on their 3 credit repository reports every 90 days. http://www.mondaq.com/article.asp?articleid=36092&shownav=0

The issue shouldn't be about whether monitoring is necessary or not, but whether, or not in and of itself, it is sufficient. which it isn't. I don't want to know my house is on fire-I want the fire department to respond, put out the fire and have it ready for the contractors so they can get to work rebuilding my home. Additionally, I want that for all 5 areas of Identity Theft.

Aug 1, 2008 3:32 AM

Earl says:

I do not believe that this story is true. I have a ID monitoring and restoration service. I know that it works. My wife had looked into refinancing a home and did not tell me. The very next day I received an e-mail alert that a company was looking into my finances. I did not know this company. In checking out what was going on, I found out about the refinancing.

This is a pro-active approach that this company has. I can not say the same for any other. I have used this service for over two years. I trust them.

They monitor and restore all five areas of identity theft (Financial, Social Security, DMV, Medical and Criminal). When I was in the hospital, I received alerts. I got them upon my return home.

I liked the service so much that I now offer it to other people. If you are interested and the web site is published, check it out at http://www.prepaidlegal.com/hub/earlbagwellsr.

It is better to be pro-active and not re-active when it comes to identity theft.

Aug 1, 2008 12:33 PM

Doug Ernst says:

Credit monitoring alone, fraud alerts, or any other type of warning system are simply not adequate to protect your complete identity. Financial identity theft is a well known portion of ID theft, but is only a fraction of the actual crime. By the time these alerts, kick in, and you are notified, it is often too, late, and you are now forced to begin the resolution and recovery process. These alerts do nothing to stop, monitor, or notify of Divers License ID Theft, Social Security ID Theft, Criminal/Character ID Theft, and the fastest growing segment of ID Theft, Medical Identity Theft.

With identity theft occurring every 2 seconds in this country, it is not so much a matter of if, but when. We are virtually powerless to stop it, and even law enforcement is baffled, and overwhelmed in the majority of cases, in their attempts to thwart, or rectify the situation. In an average case of identity theft, the victim spends over 600 hours, and tens of thousands of dollars in incurred expenses; including lost time, productivity, and associated fees and other incidental expenses related to the identity theft (about $92,000.00 per case in total costs). The most frustrating part can be the attempts to clean up the information, or in the case of ID Theft, mis-information, which is shared by the various databases that record, and store your Personally Identifiable Information, and Non-Public Information.

Several companies and services promote their Identity Theft Protection products. These range from Life Lock type fraud alert companies, to insurance companies such as Farmer's who offer riders to their homeowners policies. The problems arise in the limited protection fraud alerts provide (the topic of this article), or the limited resolution coverage insurance companies provide. A complete RESTORATION service is available, and I can direct you to the company if anyone would like additional information.

The company can provide full RESTORATIVE benefits, and handle the situation completely. I know personally, as I had a horrendous case of DL, and Criminal ID Theft, which they worked to fully resolve. All I had to do was call a toll-free number, and fill out a simple form. If you want to know how to reach this company, or want some free information, e-mail me at doug@idtheftlegalbenefit.com, and I will forward you the information, and appropriate links.

Dec 1, 2008 11:02 PM

Naid says:

As per my opinion, to prevent identity theft, we should use complex and different passwords for all accounts and then use a safe password manager like EXQUIPASS to remember those complex passwords for us. Also we should keep in practice changing our passwords every week or every fortnight.

http://www.exquisysltd.com/productinfo.php?p=DA01EX