Should You Use an Identity Theft Protection Service?
As a cybersecurity expert with over 40 years of experience, Neal O’Farrell has a complicated relationship with identity theft protection services. Despite advising multiple companies in the industry and using over a dozen services, he questions their effectiveness and trustworthiness.
The identity protection industry has faced numerous challenges, including lawsuits and fines for misleading marketing claims. For instance, LifeLock was charged by the Federal Trade Commission in 2010 for falsely claiming it could prevent all forms of identity theft. Other companies, such as Affinion Group and Intersections, Inc., were fined for deceptively enrolling customers in services they didn’t receive.
However, O’Farrell believes that identity theft protection services can still be useful. They offer credit monitoring, online security tools, and reminders to help individuals protect themselves against cybercrime. Some top services provide features like bank account protections, password managers, and antivirus protection.
To determine if an identity theft protection service is right for you, consider three key factors:
- Affordability: Identity theft protection isn’t cheap, with family plans ranging from $30 to $80 per month and individual plans from $7 to $20 per month.
- Understanding its limitations: These services can’t prevent identity theft but can alert you to potential issues.
- Using the included features: Take advantage of credit monitoring, online security tools, and cybersecurity best practice reminders.
When choosing a service, do your research, compare prices and features, and look at the company’s track record and reputation. Be wary of slick marketing campaigns and celebrity endorsements, as they may not be in your best interest.
CNET’s pick for the best identity theft protection service is Aura. Aura offers comprehensive protection for your personal data and can provide peace of mind. If you’ve been a victim of a scam or identity theft, consider signing up for a reputable service.
