LifeLock's Expanded Identity Theft Protection Service Launches Successfully
Next generation of identity theft protection effectively tracks more than 62,000 applications
Tempe, Ariz. - As identity theft continues to grow, the methods and strategies used by fraudsters have developed as well. In response to the increased sophistication of identity theft perpetrators, and the need to provide consumers with broader protection, LifeLock, Inc. recently launched LifeLock Identity Alert™ system, the next generation of proactive identity theft protection.
In less than two months, LifeLock Identity Alert™ system has detected more than 1,801 fraudulent applications for credit and services on behalf of LifeLock members, all of which were blocked before any damage could be done. In all, more than 62,000 applications have been successfully monitored and reported to LifeLock members, fulfilling the service's mission of providing even broader identity theft protection.
LifeLock Identity AlertTM system uses multiple technologies and data sources to help better defend LifeLock members against the inherent risks of identity theft. Some of these technologies have been used for almost a decade by leading Fortune 100 companies as well as government agencies to help shield both organizations and consumers from identity theft and fraud.
"We know that identity thieves are constantly coming up with new ways to try to defraud consumers," said LifeLock CEO Todd Davis. "It's our strategy to continue to develop new services that meet the challenge. We're extremely gratified to see that LifeLock Identity AlertTM system is getting the job done on behalf of our members. This represents a major advance in the battle against this crime."
LifeLock Identity Alert™ system offers broader identity coverage, greater control, 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 can identify fraudulent applications for many forms of both credit and non-credit related services. These include many but not all retail credit cards, mortgage loans, and auto loans, as well as non-credit related transactions such as wireless services, utilities, check orders and reorders, and non-credit related payday loans.
In the event the LifeLock Identity Alert™ system detects a member's information in an application, for many forms of credit and/or services, LifeLock will alert the member of the application by email, postal mail, and/or phone. If the application is fraudulent, the LifeLock remediation team will take action to help protect the member's good name.
About LifeLock
LifeLock, Inc. (www.lifelock.com) is an industry leader in proactive identity theft protection. Since 2005, LifeLock has been providing consumers with the tools and confidence they need to help protect themselves from identity theft. The company has a strong focus on educating consumers and working with law enforcement and elected officials to better understand the increasing threats of identity theft. A multiple award-winning organization, LifeLock has been recognized by the American Business Awards as Best Overall Company, by AlwaysOn to the Top Global Company 250 list and most recently by Arizona Corporate Excellence as Arizona's Fastest Growing Company.
