Many services that claim to be identity protection miss out on protecting against an elusive type of fraud called Synthetic Identity Fraud where a thief only uses fraudulent information combined with your Social Security number. This keeps correspondence from going to your home address and making it difficult to find out about the fraud; in most cases a victim may never find out about the fraud until collection agencies come knocking.
InfoArmor’s technology recently detected Synthetic Identity Fraud using one of our subscriber’s Social Security number. When our Privacy Advocates spoke with her she did not recognize the event and it was later confirmed as fraud. Her Privacy Advocate was able to close the fraudulent account and dispute it with the credit bureaus resolving the problem before long-term damage occurred.
Because InfoArmor’s technology proactively looks for fraudulent use of any piece of personal information on applications, we were able to detect Synthetic Identity Fraud for one of our subscriber and prevent damages from occurring. Our subscriber stated that if they hadn’t had InfoArmor’s service they don’t know how they would have detected this problem.