Last week I posted about a lecture given by international crook turned good guy Frank Abagnale http://post.ly/QzyK
I briefly pointed out some tips Mr. Abagnale gave for preventing Identity Theft, the nation's fasting growing crime. One of them was using some sort of credit monitoring service. Along those lines, Mr. Abagnale specifically pointed out that he did not recommend using a service popularly advertised on television, Lifelock. Abagnale's reasoning was that Lifelock simply freezes your credit and you can do that yourself. Other than freezing your credit, Lifelock offers no significant security or theft prevention benefits.
It's interesting that I posted that last week and this week we have a Paul Harvey moment in which we find out, "The Rest of The Story."
Earlier this week, the Federal Trade Commission announced that Lifelock will pay $12 Million to settle charges levied by the FTC & 35 States who claimed that some of Lifelock's theft prevention & security claims were false.http://www.ftc.gov/lifelock
As Mr. Abagnale asserted, the service Lifelock offers is nothing special or unique, and certainly doesn't bullet proof ones identity to would be identity thieves.
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