Best Identity Theft Protection Services Of December 2024

Forbes Advisor compared the top identity theft protection services on the market today in order to find the best options for the largest number of consumers. We considered the monthly cost of plans offered by each company, looking for value relative to what the plan offers, and evaluated whether the company offered a free trial and annual discount. We also looked at the details of each plan, such as credit monitoring from all three bureaus, dark web monitoring, identity theft insurance coverage and device protections like antivirus software and VPNs.

Identity theft can happen in a variety of ways, but all involve the use of your personal information to commit fraud. Here are some of the most common causes of identity theft.

• Data breaches. Data breaches occur when cybercriminals gain access to a company’s database containing personal information such as names, addresses, Social Security numbers and credit card details. This information is then used to carry out fraudulent activities, such as applying for loans or credit cards in the victim’s name.
• Spoofing and phishing schemes. Spoofing and phishing schemes are attempts to obtain personal information from individuals by pretending to be a reputable entity or organization such as a bank, government agency or service provider. These scams usually occur via email, text messages or phone calls. Once the victim provides the information, the criminals can use it for identity theft.
• Hacked accounts. Identity thieves could gain access to a victim’s personal information by hacking into their email, social media, online banking or other accounts. Once inside, the criminal may find passwords, credit card details, personal identification numbers (PINs) or more which they can then use to commit identity theft.
• Compromised devices. Identity theft can also happen when a criminal gains access to someone’s computer or phone by using unsecured public Wi-Fi networks, viruses, fraudulent websites or other means. Once inside, the thief can install malware or spyware to monitor the victim’s activity and steal sensitive information.

These are just a few of the ways that identity theft can happen. But dedicated thieves could also steal your personal information from financial documents in your mailbox or even a receipt you tossed in the trash. Whether in the physical or digital world, any place or item that contains information about you could be a potential target for identity thieves.

Financial Identity Theft

Financial identity theft is any scheme that involves using a fake identity to steal money. Criminals may use a victim’s name to:

• Apply for a credit card
• Apply for a loan
• Access the victim’s financial accounts
• Open a new bank account, which will then be used to commit other forms of fraud
• File a tax return and receive a refund

Victims often become aware that their identities have been stolen because they receive a statement in the mail from a financial account they don’t recognize. Or they may receive a letter from the IRS informing them about a suspicious return that’s been filed in their name.

Once you become aware that identity thieves have your information, it’s important to act quickly to minimize your financial losses. To limit credit fraud, you can place a fraud alert on your credit reports and freeze your credit.

For tax identity theft, you’ll want to notify the IRS that you may be a victim of identity theft. Once it’s confirmed that you’re a victim, you’ll be issued an IP PIN each year that will be used to verify your identity on all future returns. You can also request an IP PIN at any time.

Medical Identity Theft

Medical identity theft is when someone uses another person’s information to obtain medical care or services. This can include using someone else’s name to pay for treatment, obtain prescription drugs or make an insurance claim under the false identity.

Often, someone becomes aware that medical identity theft may have occurred by receiving an unrecognized bill from a healthcare provider or being contacted by an agency that’s trying to collect on medical debts for services that they never received.

If you’ve been the victim of medical identity theft, the path to recovery starts by checking your medical records with all related healthcare providers. If one or more are unwilling to share your records with you, you have the right to appeal. If you find incorrect information on your medical records, contact the medical provider in writing to dispute any errors and request their removal.

Online Identity Theft

According to the FBI’s 2022 Internet Crime Report, cybercrime losses reached an all-time high in 2022 of $10.2 billion, up from $6.9 billion in 2021. Phishing, identity theft and spoofing were each in the top 10 of most common crime types by victim count.

To avoid online identity theft, always verify senders before clicking on any email links, set up two-factor or biometric authentication on your accounts when possible and consider using cybersecurity tools like antivirus and VPN to protect your devices and online privacy. You should also be wary of sharing information on social media that could be useful to an identity thief.

As criminals become more sophisticated and use better technology to trick people into divulging information or breaking into computers, it’s more important than ever to stay vigilant in guarding personal information. Here are four habits that can help you sidestep an identity theft trap.

1. Don’t fall for “phishing” attacks.

• • Scam artists are highly skilled at impersonating banks, stores, or government agencies, so scrutinize any incoming requests.
  • Ignore requests for verifying account numbers or passwords.
  • Click cautiously when online.

2. Verify website legitimacy and privacy policy before sharing personal information.

• • Double-check the website name and URL. Often, scammers will change one letter in a legitimate business name URL so that at a quick glance, the website looks authentic.
  • Only enter personal details on secure websites with “https” and a padlock symbol.

3. Monitor credit history by requesting free annual reports from Equifax, Experian, and TransUnion.

• • Order reports from each bureau regularly; some experts recommend you do it every four months. Keeping up with your credit report is a great way to find out if your identity has been compromised.
  • Scan your reports for any unfamiliar accounts or excessive spending on legitimate accounts.
  • If you find unlawful spending or accounts opened in your name without permission, immediately report the fraud to the credit bureaus and banks.

4. Avoid sharing sensitive information on social media like addresses, email addresses, children’s names, and birth dates.

• • Oversharing can make you vulnerable to scams and identity theft.
  • Criminals can easily scan social media pages to learn who your family and friends are and then use that information to scam you.

Identity theft protection services search for any signs that your personal information is being used by bad actors. Among other things, ID theft protection companies may alert you if they notice that:

• Your information is found on the dark web.
• Your information was used to apply for a credit card or bank account.
• Your information was used to apply for a payday loan.
• Your information was used at a cash-checking service.
• Your information is found on new social media accounts.
• Your information is found on a court or arrest record.
• Your information is found on a sex offender registry.
• Records show that you’ve changed addresses.
• Large transactions have occurred in your bank or investment accounts.

In addition to identity monitoring, many ID theft protection companies also offer credit monitoring. The best identity theft protection plans monitor all three major credit bureaus and will alert you if a change appears on any of your credit files. They may also provide assistance with adding a fraud alert to your credit reports as well as locking or freezing them.

Online safety and privacy features are also commonly found on identity theft protection services. For example, members may receive access to tools like antivirus software, VPN, password managers, ad blockers and more.

Next, identity theft protection companies typically provide resolution services to aid with your recovery after your identity has been stolen. These services can help you quickly create and execute a recovery plan.

Finally, many ID theft protection plans provide identity theft insurance. It’s common for these policies to cover things like legal fees or other expenses related to recovering your identity. Some policies offer even more protection by promising to reimburse any stolen funds as well.

It’s important to point out that many of the services that identity theft protection plans provide can be done for free or at a lower cost. For example, you could regularly check your credit reports, financial accounts and medical records to keep an eye out for questionable items. You can also freeze your credit on your own for free, and you can search for your personal information on social media, government websites and more.

If you’re already planning to pay for a VPN or antivirus service, it might make sense to sign up for an identity theft protection service that includes those tools. In many cases, a robust identity theft protection plan may only cost you a few dollars, yet it could provide a much higher level of protection.

Note that if your information was recently compromised in a data breach, the company that leaked your data may offer you free identity theft protection for a certain period of time. Also, when it comes to financial account monitoring, many credit card issuers today offer built-in fraud protections and alerts.

Lastly, if you’re looking for the best credit monitoring services, you should know that free options are available.

It’s easy to become overwhelmed with identity theft protection options, mostly because the companies that work in this niche all provide the same general services. However, there are always features that stand out among different ID theft plans, so it’s crucial to look them over to see which benefits you need the most.

If you’re struggling to determine which ID theft protection provider to trust with your identity, these tips can help.

• Look for plans with identity theft insurance. Identity theft insurance is a final stopgap that can protect you against financial losses if you’re a victim of identity theft. With that in mind, we only selected companies that provide ID theft insurance for our ranking. Some offer lower levels of coverage, so make sure any plan you’re considering has enough identity theft insurance to make you feel comfortable. The gold standard is $1 million in insurance protection per plan.
• Check for three-bureau credit monitoring. Also, check for monitoring of all three major credit bureaus, and take note of the fact that basic plans may only include one bureau. Since fraud may not show up on all of your credit reports right away, having a plan that monitors all three of your credit reports is ideal.
• Decide if you need an individual plan or a family plan that provides protection for kids. Some providers offer family plans with special features to protect children’s identities, while others do not. If you have children, you’ll want to consider whether to include them in your identity theft protection plan.
• Compare pricing and look for discounts if you pay once per year. Compare pricing and make sure any plan you’re considering is affordable on a monthly basis. Also, check for discounts for autopay or annual payments. Many providers do offer some sort of discount if you pay for the first year upfront.
• Consider companies that offer a free trial. If you still can’t decide, try out a provider that offers a free trial. This will give you some time to try out the features of a plan to see if the monthly cost is worth it. If you decide not to move forward with a paid identity theft protection plan before the free trial is up, you can cancel.

• The CFPB: Protecting and Educating Financial Consumers
• How To Protect Your Online Banking Information
• How To Review Your Credit Report
• Financial Documents: What To Save And What You Can Throw Away
• 8 Tips For Managing A Financial Windfall