Identity theft remains a significant threat in the digital age. Recent statistics highlight the continued prevalence of this crime, emphasizing the need for robust protection measures. While no service can guarantee complete prevention, identity theft protection services play a crucial role in mitigating the damage and helping individuals regain control of their compromised information.
- 0.1 Understanding Identity Theft Protection
- 0.2 Key Features to Look For
- 0.3 Top Identity Theft Protection Services
- 0.4 Other Identity Theft Protection Services to Consider
- 0.5 Understanding the Threat: How Identity Theft Happens
- 0.6 How to Protect Yourself
- 0.7 Reporting Identity Theft
- 0.8 Is Identity Theft Protection Worth the Cost?
Understanding Identity Theft Protection
Identity theft protection services monitor your personal information for signs of misuse and provide assistance in restoring your identity if it’s stolen. The best services offer a comprehensive suite of tools, including monitoring, alerts, and recovery assistance.
Key Features to Look For
- Comprehensive Monitoring: The service should monitor a wide range of data points, including public records, the dark web, high-risk transactions, and less common items like home and auto titles, and investment accounts.
- Credit Monitoring: Look for services that monitor your credit reports from all three major credit bureaus (Experian, Equifax, and TransUnion) and alert you to suspicious activity.
- Cybersecurity Tools: Online security is paramount. Services that include a VPN, antivirus software, and ad blockers can provide an extra layer of protection.
- Identity Restoration: In the event of theft, the service should offer expert assistance to help you recover your identity, including contacting government agencies and creditors.
- Identity Theft Insurance: This insurance can cover stolen funds and out-of-pocket expenses related to recovering your identity, such as legal fees and lost wages.
Top Identity Theft Protection Services
Here’s a rundown of some of the leading identity theft protection services, highlighting their strengths and weaknesses:
Aura: Best Overall Identity Theft Protection
Aura stands out with its all-inclusive plan that offers comprehensive monitoring and restoration services. Its extensive monitoring tracks a wide range of items, including public records, the dark web, and high-risk transactions. Aura also includes cybersecurity tools like a VPN and antivirus software.
- Pros: Comprehensive monitoring and cybersecurity tools, up to $5 million insurance coverage with the family plan, affordable three-bureau credit monitoring, 14-day free trial.
- Cons: No social media monitoring, high starting price.
LifeLock: Best for Children
LifeLock offers a dedicated add-on for children that provides additional insurance coverage and robust security. Its monitoring is comprehensive, covering items like home and auto titles and utility account creation. LifeLock Junior adds child SSN monitoring, scans of file-sharing networks, and additional insurance coverage.
- Pros: Offered by a reputable cybersecurity brand, excellent online security tools when bundled with Norton 360, Kids plan is more affordable than most family plans, unique types of identity theft monitoring and alerts.
- Cons: Child plan requires pre-existing adult membership, plan prices increase significantly upon renewal.
EverSafe: Best for Seniors
EverSafe is specifically designed for seniors, with features like elder fraud monitoring, caregiver support, and retirement savings alerts. Its “trusted advocate” option allows seniors to designate trusted individuals to receive alerts and monitor for suspicious activity.
- Pros: Specialized monitoring for seniors and their family members, affordable prices and a 20% senior discount, tracks daily transactions for unusual activity, regularly provides educational material.
- Cons: Monitoring is not as thorough as competitors, doesn’t come with cybersecurity tools.
IdentityForce: Best for Families
IdentityForce’s family plans offer comprehensive protection and restoration services for two adults and up to 10 children. As a brand of one of the major credit bureaus, IdentityForce benefits from direct access to credit data and risk analysis tools.
- Pros: Unlimited dark web and social media monitoring for children, monitors the credit of up to 10 children, a brand of credit bureau TransUnion, risk scores for each dark web hit.
- Cons: Lacks affordable family plan options, no parental control tools.
Bitdefender: Best for Content Creators
Bitdefender’s combination of identity protection, cybersecurity, and privacy tools makes it ideal for content creators and their teams. It offers a complete cybersecurity suite with a VPN, antivirus, malware detector, anti-tracker, and password manager.
- Pros: Account takeover prevention and recovery, extensive cybersecurity and online protection tools, round-the-clock expert support, anti-scam email protection.
- Cons: Focuses exclusively on YouTube (Instagram and Facebook support coming soon), content creator plan lacks monitoring from regular plans.
IDShield: Best Identity Restoration
IDShield guarantees to restore your identity in the event of theft, offering full-service recovery with U.S.-based support and up to $3 million in identity fraud protection. The company assigns customers a dedicated, licensed private investigator to handle the restoration process.
- Pros: Guarantees to restore your identity — or your money back, up to $3 million reimbursement for unrecovered costs, 24/7 support inquiries and emergency assistance, scans and cleans up your social media accounts.
- Cons: Individual plans only cover three devices, cumbersome setup process.
Other Identity Theft Protection Services to Consider
- Identity Guard: Offers extensive monitoring and credit protection services, but many features are locked behind expensive plans. Lacks online security tools like a VPN or antivirus.
- ReliaShield: Solid option for protecting children, with family plans covering all children under 18 and including dark web and neighborhood predator monitoring. Lacks standout features and device protection tools.
- FreeKick: A deposit account that helps children build credit while protecting their identity. Requires a significant upfront investment.
Understanding the Threat: How Identity Theft Happens
Identity theft occurs when someone uses your personal identifiable information (PII) for personal gain without your permission. This can lead to identity fraud, where the stolen information is used to commit crimes.
Common methods of identity theft include:
- Data Breaches: Criminals gain unauthorized access to databases and steal personal information.
- Phishing: Tricking individuals into sharing private information through deceptive emails or texts.
- Formjacking: Inserting malicious code into website forms to steal billing information or login credentials.
- AI Fraud: Using AI to amplify online scams and create convincing phishing emails or deepfakes.
- Physical Document Theft: Stealing sensitive documents from wallets or mail.
Types of Identity Theft:
- Child Identity Theft: Stealing a child’s personal information for fraudulent activities.
- Medical Identity Theft: Using someone’s information to obtain medical care or insurance.
- Tax Identity Theft: Filing a fraudulent tax return using someone’s Social Security number.
- Synthetic Identity Theft: Creating new identities using a combination of real and fake information.
How to Protect Yourself
While preventing identity theft entirely is difficult, you can take steps to minimize your risk:
- Strengthen Passwords: Use complex, unique passwords and a password manager.
- Monitor Credit: Regularly check your credit reports and statements for unauthorized activity.
- Protect Devices: Install antivirus software and enable two-factor authentication.
- Limit Online Exposure: Deactivate unnecessary accounts and minimize your digital footprint.
Reporting Identity Theft
If you suspect you’re a victim of identity theft:
- File a report with the Federal Trade Commission (FTC) at IdentityTheft.gov or call 1-877-438-4338.
- File a police report.
- Contact your bank and credit card issuer.
- Place a fraud alert with one of the three major credit bureaus: Experian (1-888-397-3742), TransUnion (1-800-680-7289), or Equifax (1-888-766-0008).
Is Identity Theft Protection Worth the Cost?
The cost of identity theft protection ranges from $10 to $30 per month for individuals, with family plans starting around $15 per month. While basic security measures are essential, these services offer peace of mind by continuously scanning for personal data exposure and fraudulent activity, which can lead to significant financial losses and credit damage. If you have multiple online accounts or don’t actively monitor your credit, it might be a worthwhile investment.
