According to the FTC, the recovery process [from identity theft] can take an average of 30 hours and thousands of dollars to correct ...


Your guide to identity theft protection.



Unveiling the Truth About Identity Theft

PR Newswire, 2 February 2010

Over the past five years, identity theft has become a growing, nationwide concern annually affecting approximately 10 million Americans. It's an issue that is difficult to detect until it is too late and hard to understand the impact of until experienced firsthand.

LifeLock UltimateAccording to the FTC, the recovery process can take an average of 30 hours and thousands of dollars to correct. Identity Finder dispels common misconceptions to educate consumers on how to protect themselves from identity theft. They have created an industry-leading software solution to help prevent identity theft by automatically finding and protecting confidential data. Currently, thousands of enterprise customers and over a million consumers use the company's products for security and identity theft protection.

"There is an enormous amount of unprotected private information on an average computer that can be obtained by even the most amateur computer hacker," says Identity Finder CEO and identity theft expert Todd Feinman. "The best method for preventing electronic identity theft is to protect personal data - unfortunately anti-virus software is not nearly enough and credit monitoring only alerts you after the fact." A number of common misconceptions exist about identity theft, leading people to believe they are not at risk. Below, Identity Finder exposes the truth:

Myth - I check my credit report once a year and that helps me prevent identity theft.

Fact - While checking credit reports can alert consumers to whether their identity has been stolen, it is not preventative. Monitoring credit reports is a good step to spot unusual activity on financial accounts, but protecting the information that can lead to fraud is also critical.

Myth - I've installed anti-virus software on my computer so I don't need to worry about identity theft.

Fact - Installing an anti-virus program is just one of the steps required to keep a computer safe from identity theft. Additional, preventative measures must be taken to combat today's sophisticated, multi-pronged attacks including the use of strong passwords, digital shredding of unprotected sensitive data, and frequently updating the operating system.

Myth - I bought a Mac so I'm safe from online identity theft and security risks.

Fact - As Macs have become more popular, more malware has been designed specifically to target those operating systems. Even with fewer viruses, they are still susceptible to web-based attacks and user error. People should not feel comfortable saving personal information on their Macs in an unprotected form.

Myth - My personal data is not at risk because I do not shop on the Internet.

Fact - Shopping online is not the only way to expose credit card data. Other ways thieves access personal information is through peer-to-peer file sharing or simply by stealing a laptop. People tend to forget that many files, such as tax returns and insurance statements, contain their SSNs in clear text.

Myth - I do not use a credit card so I shouldn't be worried.

Fact - Although stealing credit card information is one of the most common forms of identity theft (28%), it is not the only way an identity can be stolen. Identity theft comes in many other forms, including stealing an online password and committing bank fraud or using an SSN to commit employee fraud.

Protect yourself from identity theft with LifeLock now.

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The number and overall cost of identity theft cases continue to grow every year as a result of a multitude of factors that include a tough economic environment, tough labor market, the increasing trend towards digitalization of personal information, the lack of stringent data security measures from organizations handling data and personal information, and lack of prudence on the part of consumers about the importance of protecting their personal information. Identity theft is an issue that is not easy to detect until it is too late. Furthermore, identity theft is also not easy to comprehend until a person experiences it firsthand. A proactive approach to identity theft protection is highly recommended as opposed to one that is more reactive.

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