Five years ago, in response to the nearly 10 million identity theft victims in the United States, numerous companies popped up offering identity theft protection. Unfortunately, not all of these companies had the consumers’ best interest in mind. The Consumer Federation of America conducted an independent study and found a myriad of issues with many of the identity theft protection providers, including, among other things, “that the descriptions of the services are often confusing, unclear and ambiguous.” In its report, the CFA recommended that the identity protection industry develop best practices to discourage unfair and deceptive practices.
A few years later, in 2012, the CFA published a follow-up to its initial report to determine how the identity theft protection industry was measuring up to its recommendations. While some of the information in the report is out-dated now, the Montana Life Group found the report to be an excellent starting point when performing its own research on identity theft protection companies. The report is nearly 50 pages, and certainly not a light read, but if you’re interested in some of the factors Montana Life Group considers in evaluating identity theft protection companies, it is a great resource.
Our choice for Identity Protection: Identity Guard
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