For all its benefits, online shopping carries one significant risk: Identity theft. It goes without saying that you should only ever shop on trusted, secure websites. The lock signal in your browser’s address bar is the first sign that a website is secure and that it’s safe to enter sensitive information.
However, no website is completely impenetrable, and criminals routinely try to hack websites for their customers’ information.
According to the Identity Theft Resource Center’s 2018 End-of-Year Data Breach Report, 446 million consumer records were exposed by data breaches in 2018, more than double the previous year’s figure. Criminals targeted online and offline shoppers. A breach at 3 Hudson Bay stores in Manhattan exposed payment card information for 5 million shoppers. A breach at Chegg, a popular online textbook seller, exposed the names, addresses, emails, and passwords of 40 million users.
Fortunately, there are ways to protect yourself when sensitive information is exposed: identity theft protection and monitoring services.
The Top Identity Theft Protection Services for Online Shoppers
1. Aura
- Scans platforms and the Dark Web for unauthorized personal information use
- Immediate notifications for suspicious online shopping activities.
- Ensures safe online purchases with robust encryption tools
Aura is a beacon of trust for online shoppers, offering comprehensive identity theft protection. With its advanced monitoring capabilities, Aura ensures that your personal information remains secure while you indulge in online shopping. Its proactive alerts and swift response to potential threats make it a top choice for those who prioritize their digital safety. With Aura, you can shop online with the confidence that your identity remains protected.
2. Norton LifeLock
- Combines antivirus and credit monitoring
- Takes minutes to set up and install
- Up to $1 million identity theft coverage
Norton LifeLock offers a combination of Norton’s industry-leading antivirus and anti-malware solutions with Lifelock, a credit monitoring solution. Norton Lifelock comes in 3 pricing plans, all of which include SSN and credit alerts and security protection for up to 5 devices. The cheapest plan, at $9.99 / month, includes $25,000 reimbursement for stolen funds. The priciest plan, at $29.99 / month, includes $1 million insurance. Norton Security protects users from viruses, phishing, spyware, ransomware, and online scams. Lifelock covers all the most important monitoring services, including credit file monitoring, alerts about unauthorized USPS address changes, and Dark Web alerts.
3. Identity Guard
- Supported by IBM Watson AI
- 3-bureau credit monitoring
- Tax refund alerts
IdentityGuard stands out from some of its competitors in that its monitoring services are backed by IBM’s Watson, a powerful artificial intelligence tool. Using Watson, IdentityGuard scours billions of data points on the internet to find out and alert its customers when their identity is found to be compromised. The Premier Family Plan includes AI insights into threats to your identity emanating from data breaches and social media; 3-bureau credit score and report monitoring; bank account takeover alerts; and Dark Web monitoring.
4. Experian IdentityWorks
- Backed by one of 3 major credit bureaus
- Full-feature credit monitoring
- 30-day trial membership
Experian, myFICO is operated by Fair Isaac Corporation, which sets the standards for calculating credit scores that the three major credit bureaus adhere to. It also offers services direct to consumers, including a full-featured credit monitoring and alerts solution designed to protect consumers against identity theft. One of the main benefits of choosing myFICO is that it offers $1 million in identity theft coverage and 24/7 fraud resolution with all its plans.
5. myFICO
- Full credit and score monitoring
- 24/7 restoration services
- $1 million coverage with all plans
myFICO is operated by Fair Isaac Corporation, which sets the standards for calculating credit scores that the 3 major credit bureaus adhere to. It also offers services direct to consumers, including a full-featured credit monitoring and alerts solution designed to protect consumers against identity theft.
myFICO offers 3 pricing plans: 1-bureau monitoring plus a monthly credit report from Experian-only for $19.99 / month; 3-bureau monitoring plus quarterly credit reports for $29.95 / month; and 3-bureau monitoring plus monthly credit reports for $39.95 / month.
The 2 pricier plans include full monitoring services, including identity theft monitoring, Dark Web monitoring, and SSN monitoring. One of the main benefits of choosing myFICO is that it offers $1 million identity theft coverage and 24/7 fraud resolution with all its plans.
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6. Panda
- Malware protection for online shoppers
- Alerts when charges exceed your pre-set amounts
- VPN solution
Panda is a service operated by IdentityForce that offers online shoppers a few features of interest. While it is mainly a monitoring service, it also includes protection against malware and data theft to ensure you can shop and bank online without fear of having your data stolen. Users can download antivirus for Windows, Mac, and Android as part of the service. Panda only offers one pricing plan: a monthly subscription for $14.95 per month featuring a basic set of features.
Do I Really Need Identity Theft Protection?
Identity theft protection is a bit like car insurance: No two people are at the same amount of risk, but we all need at least a basic form of coverage. If you shop online, bank online, or do anything else online that requires you to enter sensitive information, then you could be at risk.
We’re not saying all this to alarm you. Indeed, only a minority of Americans are victims of identity theft each year, just like a small minority of Americans are involved in car accidents yearly. Around 5% of Americans were victims of identity theft last year, and the figures are rising. A basic level of protection doesn’t cost a lot, but it will give you peace of mind.
Of course, you can also take steps to protect yourself from identity theft. Don’t click on suspicious links, don’t leave your bank statements in the trash, and educate your children about the risks of giving sensitive information to strangers. By taking the right personal steps, you decrease the risks of stealing your information. Identity theft protection services are there to protect you when you can’t help yourself—such as data breaches involving millions of credit cards.
How to Choose the Best Identity Theft Protection
The identity theft protection service providers listed in this article offer various services. Some offer basic features at a lower price, while some offer a full list of features and $1 million coverage at a steeper price. Before choosing a provider, consider how much time you spend shopping online and the levels of risk you and your family might face. As with any service, it’s always a good idea to compare providers by price, features, usability, and customer service.
