Experian vs. Lifelock. According to AdAge, “Experian has filed a lawsuit against identity-theft insurance company Lifelock, charging it with ‘ misleading advertising and fraud.'” Part of their complaint is Experian stating that fraud alerts were not intended to be placed on credit reports all the time.
The obvious flaw the system is that today’s problem is you don’t KNOW until after the fact if someone is using your name, credit, and identity to commit fraud.
Considering how easily an identity thief can get your fundamental information changed on your credit report, the credit bureaus themselves should be in a constant state of monitoring and fraud alerts.
Until the credit bureaus make it more difficult for address and birthdate information to be changed on reports, I support the idea of having a frozen credit report if you’re not needing to apply for credit frequently and fraud alerts simply so you can be made aware if someone is using your identity.
LifeLock at a minimum is forcing the credit bureaus to look at how they might need to protect consumers better. Or so I hope.