Identity theft is perhaps one of the fastest growing crimes across the globe. In comparison to drug trafficking, identity theft can be more lucrative for identity thieves, as it not only pays well, but also carries less risks of being caught or prosecuted. Due to this, the number of cases related to identity theft has been steadily increasing over the years. No matter how much you try protecting your personal information, there’s always a risk of it getting leaked.

No identity theft protection is 100% foolproof. A clever identity thief can take pieces of information of different people and create a new identity. This wouldn’t be detected on any credit reports, as the information is too mixed up and polluted to be detected. This is termed as ‘Synthetic identity theft’.

Many people may opine that the services offered by Lifelock are not better than those provided by a host of other identity theft protection providers in the market. Many individuals are of the view that Lifelock is a scam, as the services that Lifelock provides are things that the everyday person can do themselves.

Though this may be true, Lifelock still provides you with professional service to ensure that your personal information remains personal. There are many other things in life that you can do yourself, but you pay an expert to do them. For instance, you can cut your own hair, but you visit a salon to get it cut. You can dispose of your garbage yourself, but you pay garbage men to do that for you. You can take measures to protect your identity yourself, but by hiring the services of a professional identity theft protection provider such as Lifelock, you can minimize your chances of suffering from identity thefts while taking the pressure off your own shoulders.

If your wallet is stolen? LifeLock’s WalletLock program will help you cancel and replace your cards. The company stands behind their services with a $1 million guarantee. If their system fails, and your identity is stolen, they will spend up to $1 million recovering your losses and investigating your case. Overall, LifeLock membership really is an effective way to keep identity thieves at bay.

For $10 a month, LifeLock will register and monitor a fraud alert on your name with the three top credit reporting bureaus, Experian, Equifax, and Trans Union. When a fraud alert is in place, potential lenders are forced to call you at the number listed on the alert before they can issue you a loan or line of credit. And I guess it would be a good time to answer the question: Is Lifelock a Scam?

Not to sound off-putting but it really depends on what you consider a scam. The service that Lifelock provides is definitely something you can do yourself but I’m not sure that makes it a scam. Ignoring the oft-suggested mafia ties to the waste management business, you could take all of your trash to the landfill but you probably pay them to do it for you.

Like most services, it’s more about convenience than actual need. Lifelock simply requests locks on your credit so that you’re required to approve everything manually. Personally, I don’t think that part is a scam. it’s just a service.