Curious if the HN community has any recommendations for identity-theft monitoring services?
Each time this happens, the breached company partners with some firm or another to offer "one free year of identity monitoring" or somesuch. e.g. ProtectMyID after the Target breach.
Go to any of the three credit reporting agencies and fill out the "fraud alert" form. That will place a hold on your credit report at all three credit agencies and anyone applying for credit under your name will be blocked. The entity that the person is applying for credit with has to contact you using the contact information you provide to verify that it is indeed you that's applying for credit.
It looks like it's sufficient to do it with one as the alert propagates to the other two. And it lasts 90 days.
"Ask 1 of the 3 credit reporting companies to put a fraud alert on your credit report. They must tell the other 2 companies. An initial fraud alert can make it harder for an identity thief to open more accounts in your name. The alert lasts 90 days but you can renew it."
I have had several scares, and each time I just call them and they give me the steps to verify if it has been breached. I like the terms of their contract better as well. Just be advised that this is identity insurance. Not protection. It is designed to be reactive rather then proactive. I feel that everybody will have their identity stolen at some point, so instead of trying to prevent it. I chose to insure the consequences of it happening. I feel it's a much better return on my investment, as a lot of the protection cosines don't do much for you if they miss a theft.
P.S. A million dollar reimbursement clause really helps me sleep at night.
What a great deal for them. They know that in almost all cases you won't be liable for the losses suffered due to identity theft (e.g. loans, credit cards, etc), so they "insure" you that if, somehow, you ever are liable they'll pay it...
However what are the situations where the person for whose identity was stolen is asked to pay back the fraudulently obtained goods? I can think of no examples.
I believe the breached company partners with some firm and offers one year of identity monitoring because it is what is usually offered with the new "data breach" insurance available. By paying for the (opt-in) credit monitoring they are actually limiting their own liability.
Each time this happens, the breached company partners with some firm or another to offer "one free year of identity monitoring" or somesuch. e.g. ProtectMyID after the Target breach.
Are there better alternatives to ProtectMyID?