The Associated Press reported on May 23:
Todd Davis has dared criminals for two years to try stealing his identity: Ads for his fraud-prevention company, LifeLock, even offer his Social Security number next to his smiling mug. Now, Lifelock customers in Maryland, New Jersey and West Virginia are suing Davis, claiming his service didn't work as promised and he knew it wouldn't, because the service had failed even him.
Why are these consumers suing Lifelock? Simply:
Davis acknowledged in an interview with The Associated Press that his stunt has led to at least 87 instances in which people have tried to steal his identity, and one succeeded: a guy in Texas who duped an online payday loan operation last year into giving him $500 using Davis' Social Security number. Paris said the fact Davis' records were compromised at all supports the claim that Tempe, Ariz.-based LifeLock doesn't provide the comprehensive protection its advertisements say it does.
This is not just a case of the media bashing Lifelock. The trustworthy Consumer Reports publication reviewed Lifelock in April and came to the same conclusion, and casted severe doubts on the million-dollar guarantee Lifelock offers. Plus, Lifelock won't protect you against medical identity theft, identity fraud during the commission of a crime, or identity fraud outside of the USA. And I seriously doubt that Lifelock can protect consumers again income tax identity fraud.
In my opinion, Lifelock is no help. What the company offers, I've already done on my own -- for free. I placed Fraud Alerts on my credit reports, and later renewed them. I have already opted out of pre-approved credit offers and telemarketing lists -- again, for free. I've also placed a Security Freeze on my credit reports.
To be fair, some consumers who are novices at identity theft may find Lifelock beneficial. Then again, novices will find almost all credit monitoring services helpful.