Is LifeLock a Threat?
There are a lot of companies that don’t like LifeLock. The big three credit reporting agencies; Experian, Equifax, and TransUnion make alot of money selling personal information to credit card, mortgage and other credit-issuing companies. One of the services LifeLock and other identity protection services offer is the renew a credit card customer’s “opt-out” status with credit bureaus to prohibit them from selling your personal information. This is done to create a barrier and make it more difficult for thieves to access the personal information you have on file; and steal your identity to get credit cards with your name sent to them.
The credit reporting agencies feel threatened by LifeLock because LifeLock prevents this free flow of information and is a direct threat to a their revenue stream. Experian, Equifax, and TransUnion are primarily information selling companies, and if they have no information to sell – they will quickly be out business.
Lifelock has recieved some negative press, but I suspect it’s mostly coming from those who fear that LifeLock may put an end to the steady influx of easy profits but protecting your sensitive information.