Product Review: Are identity theft monitoring services worth it?
Yes, identity theft services can be well worth the investment, especially if you ever become a victim. Imagine that your Social Security number is part of a national breach like Anthem or the Office of Personnel Management. Or it’s stolen out of your tax preparer’s office, scavenged from your trash or skimmed from your iPad as you surf on a free Wi-Fi connection. In most cases, you have no idea that your digital identity has fallen into unethical hands, usually those of organized crime, who replicate and resell it in seconds.
CSIdentity Protector Tri-Bureau
Only 25% of identity theft can be detected by traditional credit report monitoring, which means that you need a more sophisticated service than the average offering (LifeLock). If you are time starved, convenience based or just simply want a comprehensive way to detect the inappropriate use of your data, you need to enlist an identity monitoring service. It’s similar to having someone monitor your home alarm system.
Here’s a bit of background. Traditional credit monitoring only detects a portion of identity theft. The remaining theft happens on non-credit loan activities (pay-day loans, etc), as part of public records (court cases, real estate transactions, government filings, etc.), over the internet (bought and sold on identity-for-sale sites), or in relation to medical or criminal records. It is important to monitor these forms of potential identity theft as well as your credit file. CSIdentity’s Protector Tri-Bureau product wins the award for Best-in-Class identity monitoring based on 7 criteria: