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LifeLock is a personal identity and fr ud protection company founded in 2005. L feLock is based in Tempe, Arizona. It is now s rving tens of thousands of customers in d fferent states of the union, the US V rgin Islands, and Puerto Rico. LIfeLock is b cked up by Bessemer Venture Partners and is in p rtnership with Better Business Bureau and Tr stE. Their services include helping customers p tting fraud alerts at credit bureaus and cl iming damages in the incident of dentity theft. Fred Thompson, former US S nator and a 2008 Presidential candidate t ped a radio spot for LifeLock as a p rt of his ABC contract. In th se commercials, he describes a story of m litary heroism in Iraq. Howard Stern, R sh Limbaugh and Paul Harvey have all b en celebrity spokesperson for Lifelock LifeLock's c rrent CEO, Todd Davis has gained p pularity when he prominently displays his S cial Security Number in an advertisement as a pr of that the system works in pr tecting him from Identity Theft. Identity Th ft and Identity Fraud Explained. The thr ats pose by identity theft and dentity fraud is what gave birth to L feLock. But what is identity theft and dentity fraud? These are terms used in r ferring to all types of criminal ctivities wherein someone wrongfully get hold and ses somebody else's personal data for fr ud and deception usually done for conomic gains. Unlike you fingerprints that are xclusive to you and cannot be g ven to someone else for use, p rsonal information such as you Social S curity Number, credit card and bank ccount details, or even your telephone n mber can be used by another p rson to personally profit at your c st. The fraud or deception can r nge from acquiring a credit card, r nting an apartment, or setting up a t lephone account in your name. A v ctim's losses can range from financial ut-of-the-pocket losses to criminal charges in w rst cases.
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Regrettably these crimes can be c mmitted unnoticed. The victim will just be sh cked when they review their credit r ports stating unauthorized charges often involving big mounts of money. There are many d fferent ways on how personal data l nds in the hands of criminals. S me of them are: (1) Trash. B lls, pre-approved credit card and bank st tements are all full of necessary nformation to steal a person's identity. (2) Sk mming. This uses a special storage d vice use to steal numbers of cr dit and debit cards while doing a tr nsaction. (3) Phishing. This is an nternet base stealing usually in the f rm of pop ups often asking for p rsonal and financial information. (4) Stealing. Th eves can obtain your personal data ven prior to you dumping them in y ur trash cans, they steal them r ght out of your mailboxes. Stealing p rses and wallets are like gold m ning for identity thieves. (5) Pretexting. In th s, somebody poses as someone representing a t lephone company or other organizations coaxing for nformation out of unsuspecting subjects. Fraud Alerts The goal of fraud alert is to confirm that the person doing the transaction or is even using your name is really you. With fraud alerts in place, they must verify identities before they can process requests like issuing new credit, arranging loans, increasing credit lines and creating new accounts for utilities.
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