Fraud and Identity Theft, what is the best solution?

ID fraud

Fraud and Identity Theft Are Not the Same

Internet fraud is just that, a fraud! According to the Random House Dictionary, fraud is defined as “deceit, trickery, sharp practice, or breach of confidence, perpetrated for profit or to gain some unfair or dishonest advantage.” And that’s exactly what so many unscrupulous hackers and thieves try to do!

Some of the classic examples of internet fraud are the infamous “Nigerian Letter.” In it the hacker will tell you about millions of dollars they “legally” have and then Fraud Alertthey go on to explain that they cannot use their local bank because of political unrest and as a result they need an account in an American bank. They ask the unsuspecting recipient for their bank account information so the hacker can transfer the money today. The information is given and before you know it, the victim’s bank account has been completely cleaned out without a trace.

Is LifeLock© the best solution for fraud? LifeLock© has at least four key areas of protection.

  • Identity Theft Protection Alerts – whenever any suspicious activity occurs, a text message is sent to your phone or an email is sent to you to alert you.
  • Lost Wallet Protection – If you lose your wallet or if it should suddenly come up missing, all you need to do is call LifeLock© and they will help you to cancel or replace all your cards to avoid any fraudulent charges
  • Address Change Verification – LifeLock© monitors any activity regarding an address change request and will notify you whenever a request has been made
  • Black Market Website Surveillance – There are hundreds of “black market” websites where thieves buy and sell identities to the highest bidder. LifeLock monitors these sites and if any of your private information is found, LifeLock will contact you immediately.

 So Is LifeLock© a Scam?

There are those who would like to highlight the background on Robert Maynard who was the founder of LifeLock©. Mr. Maynard though he has a very colorful and questionable past, founded a product which today has over 1,000,000 loyal customers. One of biggest credit monitoring companies, Experian©, has filed lawsuits with LifeLock because they claim to be losing money due to LifeLock©’s popularity.

There is plenty of information on the internet praising and condemning LifeLock©. But for the average consumer, LifeLock© is an affordable solution that will provide excellent protection. But there are some things that each consumer can and should be doing on their own as well. Keep your antivirus updated regularly, Change your passwords regularly and don’t put your password on a post-it under your keyboard either. But most of all, be skeptical especially when being asked for personal information such as your driver’s license number, social security number, birthdate, personal finance information, and medical history.

No fraud / identity theft service is perfect or without shortcomings. As each consumer protects themselves against threats in conjunction with an identity theft prevention service such as LifeLock, these consumers will receive the best available protection from those hackers and con artists. And again remember, if it’s too good to be true, it probably is!


  • May 24, 2013, 6:26 pm

    Good site you have got here.. It’s hard to find good quality writing like yours nowadays. I really appreciate individuals like you! Take care!!

    • Ajay September 17, 2013, 4:09 am

      Yes. The bank will assume you are teinllg the truth (and you better be) and will usually cover the cost. You report the card stolen and tell them those arent your charges. Then you have them give you a new card with a new account number and cancel the old one.It wont screw up your credit if you tell the credit card company it wasnt you.


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