LifeBlocked
25th May 2010
Cringely does LifeLock.
What LifeLock does primarily when you subscribe is they put a fraud alert on your file at all three national credit monitoring agencies — Equifax, Experian, and Trans-Union. A fraud alert says “this person’s identity has been stolen, don’t approve any unusual expenditures without proper verification. ” So the cable bill you’ve been paying with a credit card for five years still goes through but any new request for credit or an unusual expenditure gets flagged. The problem with this is that the fraud alert isn’t real; there has been no fraud. You only signed-up with LifeLock, which is now screaming at the credit bureaus that you’ve been ripped-off when, in fact, you haven’t.
Credit bureaus hate LifeLock.
But wait, Todd Davis (Mr. 457-55-5462) was ripped-off 13 times despite being a member of LifeLock. With an fraud alert on his file, how was this even possible?
Because the frauds didn’t involve his credit file.