IdentityTruth, the leading provider of a new breed of service to help consumers safeguard their Privacy and Identity, issues statement to inform its customers that the IdentityTruth Service is a truly comprehensive offering well beyond credit related services such as fraud alerts.
This statement is in response to a recent lawsuit filed by Experian that claims LifeLock’s primary service consists of placing “fraud alerts” on credit files for individuals. The lawsuit not only challenges the approach by which LifeLock places fraud alerts as being illegal, but also it goes on to state that LifeLock misrepresents the level of protection that fraud alerts provide. It states that “they are ineffective to prevent identity theft involving the opening of new accounts that do not require a credit report. Fraud alerts provide no protection to individuals against the fraudulent use of existing accounts, such as the unauthorized use of a credit card, and they provide little or no protection against an identity theft that is already in progress.”
Commenting on the recent lawsuit, Steven Domenikos, CEO of IdentityTruth, stated, “We made this huge investment in technology because we believe it’s important to provide our customers the most comprehensive view of their identity information that is not reliant only on credit or fraud alerts. Even though it costs us more to deliver this capability, we provide it at the same price as other solutions because we feel it is important to give our customers the greatest value and provide them with the earliest possible notification in advance of a potential identity misuse.”
Fraud alerts are designed to help people who have reason to suspect identity theft. Whereas IdentityTruth is designed to help consumers understand their true risk through a unique Identity Health Score™ and then enables them to place fraud alerts for free when they are appropriate. Unlike other services, IdentityTruth provides a $2 Million True Guarantee that offers much broader coverage than other guarantees.
IdentityTruth is able to accomplish this through a powerful set of tools and technology that includes credit, but also analyzes data from multiple sources such as address changes, phone number changes, internet monitoring, data breaches, and others. Based on this unique approach, IdentityTruth provides individuals with the most complete protection possible.
Go to www.IdentityTruth.com to learn more.
About IdentityTruth, Inc.
IdentityTruth is the leading provider of a new breed of service to help consumers safeguard their Privacy and Identity. Through innovative technology, individuals receive the earliest possible notification™ in advance of potential misuses of their identities so they can take better control. Early detection is the best protection. IdentityTruth is a privately held, VC-funded company headquartered in Waltham, Massachusetts. Investors include Argonaut Ventures and Stata Venture Partners. For more information, go to www.identitytruth.com or call 781-684-1300.
Contacts:
Laura Ackerman, 508-366-2099, ext. 125
laura@kelandpartners.com
