LifeLock Introduces Identity Theft Protection for Enterprise Data Breach Response Plans
17 November 2014 - 2:00PM
Business Wire
Service Puts LifeLock on Standby to Protect an
Organization’s Customers or Employees Following a Breach
LifeLock, Inc. (NYSE: LOCK), an industry leader in proactive
identity theft protection, introduced a new service for
organizations to integrate identity theft protection into their
data breach response plans. LifeLock Data Breach Service enables
organizations to rapidly activate LifeLock if they are exposed by a
data breach and help protect their customers or employees from
identity fraud.
“The number of significant data breaches over the last year
shows that it’s nearly impossible to protect against a data
breach,” said Don Beck, senior vice president of Enterprise Sales
and Alliances for LifeLock. “The LifeLock Data Breach Service gives
companies an emergency plan, with no set-up cost and at discounted
rates, so that they can act quickly to help safeguard affected
customers or employees from identity theft and protect their
reputations.”
LifeLock has provided breach response services for enterprises
for several years, and this new service is designed to help
organizations plan their response to data breaches. LifeLock Data
Breach Service establishes a pre-negotiated plan to mobilize
LifeLock identity theft protection for any customers or employees
exposed by a future breach at a discounted rate. Companies do not
pay for the service unless a breach occurs and the service is
activated. Additionally, LifeLock does not sell members’ data to
outside parties.
Identity theft protection for customers is an important part of
a checklist for companies developing data-breach crisis plans. A
recent study by Forrester Consulting showed that one in three
individuals who were notified that their personal information was
part of a data breach reported that they experienced identity
theft.1
Beck added, “We learned through conversations with companies in
a variety of industries that the vast majority of time and
resources are spent on breach prevention. This means that identity
protection for customers is often an afterthought. The new LifeLock
Data Breach Service offers a way for companies to plan for a breach
so that they are prepared to move quickly to help protect their
customers and their reputation.”
LifeLock Data Breach Service includes:
- Primary LifeLock Alert System:
Actionable alerts are sent in near real time when LifeLock detects
a Social Security number, name, address or date of birth in
applications for credit and services within its network2. LifeLock
monitors over a trillion data points, including those used for new
credit cards, wireless services, retail credit, mortgages, auto and
payday loans. Members can choose alerts by text message, phone, or
email and respond immediately to confirm if the activity is
fraudulent with the company’s proprietary Not Me® verification
technology3.
- Continuous Live Member Support:
U.S.-based Member Services Agents are available to help 24 hours a
day, 7 days a week, and 365 days a year.
- Certified Resolution Support: A
Certified Resolution Specialist will personally handle a case and
help restore a member’s good name in case of a fraudulent event.
These specialists are Fair Credit Report Act (FCRA) certified and
trained on federal legislation, national credit repository
guidelines and consumer rights.
- $1 Million Total Service
Guarantee: If a LifeLock member becomes a victim of identity
theft, LifeLock will spend up to $1 million to hire experts,
lawyers, investigators, consultants and necessary professionals to
help their recovery4.
Identity fraud comprises much more than a fraudulent charge on a
credit card; it includes new accounts, loans, or services being
opened up in a victim’s name without their knowledge. An estimated
16.6 million U.S. citizens have experienced at least one incident
of identity theft in 20125.
About LifeLock
LifeLock, Inc. (NYSE: LOCK), is a leading
provider of proactive identity theft protection services for
consumers and risk management services for enterprises. LifeLock’s
threat detection, proactive identity alerts, and comprehensive
remediation services provide peace of mind for consumers amid the
growing threat of identity theft. Leveraging unique data, science
and patented technology from ID Analytics, Inc., a wholly-owned
subsidiary, LifeLock offers identity theft protection that goes
beyond credit monitoring. As part of its commitment to help fight
identity theft, LifeLock works to train law enforcement and
partners with a variety of non-profit organizations to help
consumers establish positive habits to combat this threat.
1 Identity Theft Study, a commissioned survey conducted by
Forrester Consulting on behalf of LifeLock, April/May 2014. Results
are based on survey participant identity theft and life events of
past 12 months.
2 Network does not cover all transactions.
3 Fastest alerts require member’s current email address. Phone
call alerts made during normal business hours.
4 The benefits under the Service Guarantee are provided under a
Master Insurance Policy underwritten by State National Insurance
Company. As this is only a summary please see the actual policy for
applicable terms and restrictions at LifeLock.com/legal.
5 “Victims of Identity Theft, 2012,” Department of Justice,
2013.
LifeLockBecca Youngs, 415-767-7752media@lifelock.com
Lifelock, Inc. (delisted) (NYSE:LOCK)
Historical Stock Chart
Von Jul 2024 bis Aug 2024
Lifelock, Inc. (delisted) (NYSE:LOCK)
Historical Stock Chart
Von Aug 2023 bis Aug 2024