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Irony of the week! ID THEFT!

Date: Thu, 08/02/2007 - 15:40
Submitted by goudah2424 on Thu, 08/02/2007 - 15:40
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Quote:
July 25, 2007

Irony of the Week: Lifelock CEO’s Identity Stolen


Todd Davis, who is so confident in the strength of his LifeLock identity theft protection service that he posts his social security number on the company’s website, has had his identity stolen by a fast cash loan crook. Davis, who founded and is the CEO of LifeLock, has offered extravagant guarantees to LifeLock customers that their identities cannot / will not be plundered if the subscribe to the service. Yet, a man in Fort Worth, Texas, was able to use Davis’ information (including the freely given social security number) to access a faxless payday loan in his name. Davis only became aware of the issue when a collections agency called him to let him know that “his” cash advance obligation was overdue. Payday loans are, of course, the much-ballyhooed short-term, high-interest personal loans with no end of controversy attached to their use. A private investigator hired by Davis tracked down Daniel Keith Brown, who admitted to having stolen Davis’ identity to access the fast cash loan on the web.

Brown said that he was “desperate” for money when he decided to steal Davis’ information to take out a faxless payday loan. Fort Worth police have not yet arrested Brown for identity theft in taking out the fast cash loan, but Davis’ private investigator claims to have Brown on tape admitting his guilt in taking out the cash advance personal loan, and an affidavit signed by the suspect that states the same.

Davis boasts that LifeLock’s protections actually did exactly what they should have, for him. Because the service places a fraud alert on the subscriber’s credit file, all discrepancies – like Davis’ fraudulent payday loan – are quickly picked up on and reported. Davis has said that he will keep his information publicly available on the LifeLock website, as his confidence in the service has not wavered.


It is possible it was a publicity stunt. And if it was not orchestrated on purpose, it was done for the off chance someone would take it. He wanted someone to take it and use it. I mean that last bit of the article "LifeLock????????s protections actually did exactly what they should have."

Plus people hearing his number over the radio as an advertisement for a number tracking service, you'd have to be dumb to use it, knowing they'll find you and put you in handcuffs. Definitely a publicity stunt.


Submitted by pokogeo on Mon, 09/10/2007 - 14:47

pokogeo

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I saw this guy on Montel William's show today..he said things like..you are 25 times more likely to have your identity stolen these days than your car...gave his social security #..and Montel gave free years membership to everyone in audience..it seemed like a good deal to me until I saw this post from Goudah that he got his own identity stolen..he did state however that once his company puts the fraud alerts in place and monitor your reports for you..that if you aren't personally contacted every time someone tries to use credit in your name..that they can erase the debt and remove it from your credit report and handle any problems you might have with his million dollar guarantee..sounded too good to be true! and perhaps it is....


Submitted by socksfullofrocks on Thu, 12/20/2007 - 20:15

socksfullofrocks

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really strange thing.. not about this Todd Davis guy..but the Montel show was about unbelievable identity theft cases..this mother of four had dept of social services contact her and said they were taking her children away becuz she just had a baby who tested pos for drugs..trouble was she didn't have a baby.. someone had stolen her purse 3 months earlier and used her i.d... is still trying to straighten out the collection medical bills on baby she didn't have..got threatened to have her kids taken away..but said the perp is in rehab and baby has been returned to her!!!! the perp is home free and getting assistance but the victim is still left holding the baggage!


Submitted by socksfullofrocks on Thu, 12/20/2007 - 21:17

socksfullofrocks

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It sounds to me like he was just trying to promote the LifeLock identity theft protection service.

Quote:

The Fair Credit Reporting Act(FCRA) gives you specific rights when you are, or believe that you are, the victim of identity theft.

You have the right to ask that nationwide consumer reporting agencies place ???????fraud alerts??????? in your file to let potential creditors and others know that you may be a victim of identity theft. A fraud alert can make it more difficult for someone to get credit in your name because it tells creditors to follow certain procedures to protect you. It also may delay your ability to obtain credit. You may place a fraud alert in your file by calling just one of the three nationwide consumer reporting agencies. As soon as that agency processes your fraud alert, it will notify the other two, which then also must place fraud alerts in your file.

Equifax: 1-800-525-6285
Experian: 1-888-397-3742
TransUnion: 1-800-680-7289

An initial fraud alert stays in your file for at least 90 days. An extended alert stays in your file for seven years. To place either of these alerts, a consumer reporting agency will require you to provide appropriate proof of your identity, which may include your Social Security number. Always file a report with your local, federal or state law enforcement agency (police department). This will serve as back up documentation.

You have the rights to free copies of the information in your file (your ???????file disclosure???????). An initial fraud alert entitles you to a copy of all the information in your file at each of the three nationwide agencies, and an extended alert entitles you to two free file disclosures in a 12-month period following the placing of the alert. These additional disclosures may help you detect signs of fraud, for example, whether fraudulent accounts have been opened in your name or whether someone has reported a change in your address.

Once a year, you also have the right to a free copy of the information in your file at any consumer reporting agency, if you believe it has inaccurate information due to fraud, such as identity theft. You also have the ability to obtain additional free file disclosure under other provisions of the FCRA.

You have the right to obtain documents relating to fraudulent transactions made or accounts opened using your personal information. A creditor or other business must give you copies of applications and other business records relating to transactions and accounts that resulted from the theft of your identity, if you ask for them in writing. A business may ask you for proof of your identity, a police report, and an affidavit before giving you the documents. It also may specify an address for you to send your request. Under certain circumstances, a business can refuse to provide you with these documents.

You have the right to obtain information from a debt collector. If you ask, a debt collector must provide you with certain information about the debts you believe were incurred in your name by an identity thief ???????? such as the name of the creditor and the amount of the debt.

If you believe information in your file results from identity theft, you have the right to ask that a consumer reporting agency block that information from your file.

An identity thief may run up bills in your name and not pay them. Information about the unpaid bills may appear on your consumer report. Should you decide to ask a consumer reporting agency to block the reporting of this information, you must identify the information to block, and provide the consumer reporting agency with proof of your identity and the police report if you did file one.

The consumer reporting agency can refuse or cancel your request for a block if, for example, you don????????t provide the necessary documentation, or where the block results from an error or material misrepresentation of fact made by you. If the agency declines a block, it must notify you. Once a debt resulting from identity theft has been blocked, a person or business with notice of the block may not sell, transfer, or place the debt for collection.

You also may prevent businesses from reporting information about you to consumer reporting agencies if you believe the information is a result of identity theft. To do so, you must send your request to the address specified by the business that reports the information to the consumer reporting agency. The business will expect you to identify what information you do not want reported and to provide a police report.

The FTC outlines all the different areas that a comsumer needs to know about identity theft.


Submitted by Mary Adkins Matthews on Thu, 12/20/2007 - 22:12

Mary Adkins Matthews

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I see that now..promotion..but why this victim that they were going to take children away from...then gave drug child back to real Perp..but victim still trying to clear it up about perps bills..and this Lifelock says will step in and resolve..is this victim further being victimized? from this Lifelock co? you guys here are pros and your opinions mean a bunch to me!


Submitted by socksfullofrocks on Thu, 12/20/2007 - 23:16

socksfullofrocks

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thanks Laura.. come to think of it.. at the first of the show Montel was even promoting his new book..I am almost thinking of signing up for this Lifelock promotion though..sort of as a research experiment..it's like $19 a month supposedly..I am curious to see what's really going on..if I decide to do this I will keep all updated on outcome


Submitted by socksfullofrocks on Sat, 12/22/2007 - 00:04

socksfullofrocks

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I understand caj but if everyone has access to your personal info anyways... if they want to find it hard enough...

and if I am not as confident and as knowledgeable as you are with the laws in place...

and I am someone who would be too busy to stay on top of it and might forget to do what is necessary ..

and someone else says they have a million dollar guarantee that I myself can't offer me if I make a mistake...

$19 a month doesn't look so bad if this co can actually do what they say they can..

yet I still haven't joined Lifelock because am sitting on the fence here....


Submitted by socksfullofrocks on Tue, 12/25/2007 - 03:51

socksfullofrocks

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It cost the price of a stamped envelope to all three credit bureaus to initiate a fraud alert.Sometimes it can be done through a simple telephone call.Opting out can be accomplished through the national opt-out web site for free and anyone should have credit monitoring in place. I find this service to be of little use to me and if people are really that uncaring of monitoring their finances it may help them.


Submitted by cajunbulldog on Tue, 12/25/2007 - 04:26

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[quote=socksfullofrocks]I understand caj but if everyone has access to your personal info anyways... if they want to find it hard enough...[/quote]


No reason to make it easy, is there? It's called 'personal information' for a reason, Socks.


[quote=socksfullofrocks]and someone else says they have a million dollar guarantee that I myself can't offer me if I make a mistake...[/quote]


Here's my guaranty to me: "I will guard my own personal information zealously, using every means at my disposal. I will never reveal so much as a smidgen of this information to anyone, unless they convince me that it's for a legitimate purpose, and I want them to have it. For every month or fraction thereof that I follow these rules religiously and there is no problem, I will have the sum of $19 left in my bank account [because I didn't spend it, duh!]"


[quote=socksfullofrocks]$19 a month doesn't look so bad if this co can actually do what they say they can..

yet I still haven't joined Lifelock because am sitting on the fence here....[/quote]


LifeLock..... Don't I recall reading on here [or in a linked article] somewhere that the Likelock guy had just had his own identity stolen. Some loser in Ft. Worth, Texas did it, if memory serves.

Bottom line time, Socks: It's your $228 every year. Do what you will with it. Myself, I'll stay with someone I trust completely, who has a proven track record in these matters: me.


Submitted by unclewulf on Tue, 12/25/2007 - 07:10

unclewulf

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It's just another insurance...I have life ins., health ins. auto ins. homeowners ins. etc. These are things I have to have..insurance on my identity??? I feel I pay out enough in insurance...even these insurance companies don't do what they claim to do.
However if it makes you feel more secure..buy it...as for me..some things will have to be left to luck. I'll just deal with that problem if it comes along.


Submitted by laura19544 on Tue, 12/25/2007 - 07:28

laura19544

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Yes, since the guy that runs Lifelock says his SS# on the commercial, some dude went and took out an internet payday loan in his name. Oops! But they claim their service worked in this case, because the victim was made aware of the situation and was able to correct it. I don't think that's quite the case, because payday loans don't use credit reports, so they circumvent all the protections Lifelock (or yourself) put into place.


Submitted by goudah2424 on Wed, 12/26/2007 - 12:47

goudah2424

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Get this - The dude was not arrested for the theft because of the Lifelock guy!

Quote:

it was also disclosed that LifeLock's services failed to protect the company's CEO from identity theft. A man in the Dallas area used the CEO's social security number -- which is prominently displayed in LifeLock's marketing materials -- to obtain a $500 loan, and police were waiting to get some subpoenaed information when the CEO took things into his own hands. He showed up at the fraudster's house with a film crew, and apparently coerced a confession out of the guy, who police say is mentally disabled. The confession is legally worthless, and police and prosecutors say it's tainted the case, so they're not going to proceed with their investigation, and have no plans to arrest the suspect. So, it would appear, that not only do LifeLock's anti-identity theft measures not work, the company also manages to bungle the prosecution of identity thieves.


Submitted by goudah2424 on Fri, 12/28/2007 - 07:30

goudah2424

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