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News

Identity Alert from LifeLock Provides Protection from Identity Theft

LifeLock : 12 March, 2010  (New Product)
Over 200,000 applications identified and tracked in bid to protect users of LifeLock's Identity Alert system for protection against identity theft
According to the 2010 Javelin Strategy & Research "Identity Fraud Survey Report," an estimated 11.1 million Americans were victims of identity fraud in 2009, a staggering number of new victims over the previous year. In response to the sophistication used by identity thieves, LifeLock has seen tremendous success in its next generation of identity theft protection - LifeLock Identity Alert system.

Since the introduction of LifeLock Identity Alert system in September 2009, more than 6,200 risky or miskeyed applications for both credit and non-credit services on behalf of LifeLock members were blocked before any damage could be done. In all, more than 221,000 applications have been successfully monitored and reported to LifeLock members, fulfilling the service's mission of providing even broader identity theft protection.

"As we look back at the success of the LifeLock Identity Alert system at this six-month milestone, we are extremely happy with the results," said LifeLock Chairman and CEO Todd Davis. "This service has exceeded expectations but just as importantly, has shut the door on more than 6,200 possible attempts of identity theft."

LifeLock Identity Alert 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 protect both organizations and consumers from identity theft and fraud.

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, peer to peer loans, and non-credit related payday loans.
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