Identity Theft Protection Services FAQ

Identity theft protection tools cannot actually prevent identity theft – no tool can really do that 100% of the time. What they do, however, is monitor any suspicious activity associated with your name and other personal information. If an identity theft protection tool encounters anything out of the ordinary, it immediately alerts you and helps you take the necessary steps to stop thieves in their tracks before things get out of hand. If the situation takes a turn for the worse, identity theft protection can help you by putting you into recovery mode.

Types of identity theft it protects you from

Every company offers a different range of protection and monitorization options, but the most common scans and alerts will be for activity such as:

• Changes to credit scores
• Address changes
• New accounts opened and other high-risk transactions performed under your name
• Traces of your name or social security number in the dark web
• Criminal records associated with your name

Some companies also monitor social media activity and provide web safety tools such as VPNs, anti-phishing software, antivirus protection, and more.

Notifying you in case of suspicious activity

If any of the situations mentioned above unfortunately happen, you will receive alerts via email or SMS, providing the company has a mobile app available. You will also be able to keep a regular eye on your overall situation by logging into your provider’s website and exploring your dashboard that will give you an overview and display alerts of any changes.

How identity theft protection helps resolve identity theft

Monitoring is only half of what identity theft protection should do – the other half consists of a recovery plan that will spring into action in the unfortunate case of you falling victim to identity theft, despite your efforts to prevent it.

Imagine you receive an email alert informing you that large purchases (that you definitely didn’t make) have just been detected on one of your credit cards. After confirming that this wasn’t you, you will be put in touch with a representative who will break down the situation for you and let you know what exactly needs to be done to resolve this situation and prevent further damage. This will most likely involve freezing your credit cards and working to make sure your credit score and other information is not penalized for this action. If things get really bad, the insurance that identity theft protection products provide will reimburse you for your losses – from stolen funds to potential associated expenses, such as lawyer fees and more.

In general, identity theft protection is quite affordable, especially when you think about how much you could end up paying if you find yourself in this dilemma without any protection. Plans are usually available on a monthly or yearly subscription basis, ranging from around $10-$30 per month on average for an individual plan, slightly more for family plans, and customized pricing for business plans depending on the size and needs of the company.

What to look for when choosing a plan

Companies often offer three or more plans that vary based on what they monitor and how much insurance reimbursement is guaranteed. When choosing a plan, it may be a good idea to first evaluate your level of risk. Usually, companies will have a professional on hand who can help you evaluate and choose what plan is right for you. Do you have multiple bank accounts? Several credit cards that risk being taken over or defrauded? High balances in your accounts that thieves would love to get their hands on? The more present and high-profile you are, the more monitoring you’ll need, and therefore the more backup funds you should be able to count on – meaning you may want to consider going for one of the premium options.

Saving on identity theft protection services

Besides coupons and promotions that you can often find for identity theft protection products, there are many other more consistent ways to save money. Family plans are great because they generally allow two adults, plus several minors in the same household to be under one plan that doesn’t usually cost much more than an individual plan. Meanwhile business plans ordinarily allow companies to place bulk orders of protection for their clients or employees at significantly discounted prices.

In general, purchasing an annual plan as opposed to a monthly one will result in big savings, no matter which plan you choose. Of course, purchasing an annual plan is much more of a financial commitment than signing up for a monthly one, so you should be sure about the company you decide on. Luckily though, many offer money-back guarantees in case you end up changing your mind after your purchase.

Identity theft protection is a product that serves as an extra set of eyes for monitoring your personal data, accounts, and activity associated with your identity. Identity theft protection services cannot actually prevent your identity from being stolen but can do everything possible to let you know as soon as any irregular activity is detected, so you can take immediate action to stop the situation in its tracks. Additionally, identity theft protection products often offer resolution solutions so you can rest easy knowing that you have something to fall back on just in case.

How identity theft protection monitors data

By doing regular scans across the web (including the dark web), an identity theft protection product will be able to pick up on anything unusual. If something out-of-the-ordinary occurs and your name is associated with it, you’ll be informed straight away. If it was indeed you who performed the action, you should be able to confirm that everything is okay and stop receiving alerts regarding that particular issue if you wish.

Various monitorization options

Every company offers a different range of monitoring options, but the most common alerts are for activity such as:

• Changes to credit scores
• Accounts opened and other high-risk transactions performed under your name
• Traces of your name or social security number in the dark web
• Criminal records associated with your name

Some also monitor social media activity and provide web safety tools such as VPNs, anti-phishing software, antivirus, and more.

The best possible protection

While identity theft protection can’t actually prevent identity theft, it gives you all the necessary tools to stop these kinds of unfortunate situations before they go too far, as well as providing you with a recovery plan if you find yourself in a worst-case scenario. Nothing will ever be able to guarantee 100% security but having identity theft protection as a backup allows us to come as close to safety as possible.

Identity theft protection is suitable for anyone who has an identity – so, everyone. Adults with bank accounts, credit cards, and any other digital information about themselves should definitely be protected. However, children can benefit as well, as identity theft protection services often offer extended tools that ward off online child predators and warn about cyberbullying. Businesses absolutely should be covered, especially those who have databases full of clients’ personal information that are targets for security breaches.

Everyone is a candidate for identity theft protection, because sadly, nobody is safe from this nasty crime. Many companies provide different types of packages tailored to the needs of different people or organizations, so there is something for everybody.

“I’m just a regular person with an average income”

Yes. Identity thieves don’t discriminate. While high-profile individuals are at higher risk since getting ahold of their personal information is like winning the lottery in the identity theft world, anybody and everybody could fall victim to it. If you have a name and a social security number, you have what they are looking for and need to be protected.

Kids

Unfortunately, kids can greatly benefit from identity theft protection as well. Several providers offer services that are especially useful for children, such as protection against cyberbullying and child predator monitoring. Since these malicious issues are next to impossible for the average parent to track, enlisting professional help is a great way to stay on top of things and make sure your family is protected.

Businesses

Those who should most seriously consider using identity theft protection software are businesses, as they likely store a large amount of sensitive data and are more prone to breaches. Identity theft protection products often serve as a sort of insurance for these companies, alerting them to risky transactions and any red flags, as well as giving them backup for themselves and their customers in case of a disaster.