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LifeLock Announces Next Generation of Services That Help To Combat Identify Theft
Innovative New Technologies Fight Fraud and Protect Consumers in Real-Time
Ground-Breaking Models Help Predict Future Identity Risks – Before Fraud Occurs
TEMPE, Ariz.--(BUSINESS WIRE)--LifeLock, the industry leader in proactive identity theft protection, today announced the implementation of a new and innovative identity protection system that will provide better and broader protection to current and prospective members. The new system features some of the most sophisticated technologies available, including scientific modeling and multi-point data mining to identify fraud and help protect consumers.
“The implementation of our new identity protection system reflects LifeLock’s unyielding commitment to innovation, consumer protection and industry-leading best practices,” said LifeLock CEO Todd Davis. “Criminals are devising increasingly complex schemes to defraud consumers. Our services must constantly evolve so we are not one, but two, steps ahead.”
LifeLock’s better and broader identity protection system will:
- Use more sophisticated and more scientific algorithms to spot identity fraud.
- Examine patterns over time across the entire network to help predict future identity risks and vulnerable members.
- Mine more data sources than the credit bureaus. These additional data sources include retailers, banks, mortgage lenders, utilities, and auto lenders.
In addition to this new identity protection system, LifeLock continues to provide members with a full suite of personal protection services – including WalletLockTM, eReconTM, TrueAddressTM and of course our $1 million total service guarantee in the event you become a victim of identity theft due to a failure in our service. (Restrictions apply. Go to www.lifelock.com for details.)
LifeLock’s new system, which will replace fraud alerts as one of the company’s primary consumer protection mechanisms, will be deployed in the coming weeks.
“The team at LifeLock will never lose sight of the reason we are in business – to help protect consumers who are vulnerable to identity theft,” concluded Davis.
Identity theft costs Americans more than $1.8 billion annually, according to the Federal Trade Commission, and the latest FTC reports show the number of identity theft complaints has grown by 80 percent since 2000.
LifeLock, Inc. (www.lifelock.com) is an industry leader in proactive identity theft protection. Since 2005, LifeLock has been providing consumers with the tools and confidence they need to help protect themselves when they have a good faith suspicion that they have been or are about to become a victim of identity theft. The company has a strong focus on educating consumers and working with law enforcement and elected officials to better understand the increasing threats of identity theft. A multiple award-winning organization, LifeLock has been recognized by the American Business Awards as Best Overall Company and offering consumers the best new service (TrueAddress™) and was recently named to the Top Global Company 250 list by AlwaysOn.