How big is the identity theft and fraud problem?

It is an immense and growing problem. An identity is stolen once every four seconds in the U.S., and one out of every 14 Americans falls prey to the crime.

What is the cost of this problem?

Identity theft and fraud is a major drain on the American economy, costing an estimated $25 billion in losses to victims each year. Victims of identity fraud also spend up to 600 hours recovering from this crime, and many end up with their credit and reputation ruined for years to come. Not only does identity fraud cost individuals and financial institutions billions of dollars, then, it also saps our economy of the time and energy people spend recovering.

How prevalent is identity fraud?

For most of us, identity fraud isn't a question of “if,” but “when.” Some 3.6 million American households have been victims of identity fraud. Identity theft accounts for 37% of all consumer fraud and now tops the list of complaints filed with the FTC.

How is an identity stolen?

It happens all the time, in ordinary as well as unimaginable ways. Thieves can hack computers, steal wallet, or trick unsuspecting people into providing their Social Security numbers. But any time this data has been given to someone for legitimate reasons—a job application or car loan, for example—that information may be stolen by an employee of that firm (internal breach) or by an outside source (external breach). Personal information is already easily accessible in a number of places; consequently, it is all but impossible to prevent it from ever being compromised.

How quickly after I sign up for service does my coverage begin?

Coverage begins as soon as a subscription number is generated. We will send the identifying information you have given us for an initial assessment with results available to you within a week. We will continue to monitor your identity and update your reports monthly as long as your subscription is active. If unknown suspicious activity is discovered in the initial scan, your resolution coverage would be in effect and a Resolution Advocate would begin working with you immediately to assist you in your recovery.

Should I report a lost or stolen wallet?

Yes. When you lose your personal information, your identity has been compromised. Alerts should be placed on accounts and with the DMV. This will help to minimize the amount of damage that can be done by anyone who might fraudulently use your information.

What can you do to protect yourself?

The obvious solutions—shredding personal finance information, visiting only reputable websites, etc.—are not enough. Even credit monitoring, which is the heart of most identity fraud protection programs, does not fully protect consumers. As a result, more and more people are turning to programs that monitor their complete identity.

How do these programs work?

With nearly 70% of identity thefts not being related to credit, credit monitoring alone isn't enough. Secure Identity Systems uses advanced technology to regularly monitor more than 1,000 databases to determine if an identity is being misused. For instance, it will review databases that list the openings of new utility accounts. If a subscriber’s name appears on that database, and that person did not open a new account, it immediately alerts us and the consumer that his or her identity has been compromised.

What is the recovery process like for most Americans?

Long, hard and grueling. Worst of all, according to the FTC, the average person spends 60-600 hours on recovery, and some 30% are still unsuccessful. That’s why Secure Identity Systems has developed a program that helps our customers restore their identity*. First, AIG pays them up to $25,000 for any out-of-pocket expenses associated with pursuing identity recovery, including legal costs, lost wages, travel expenses, credit report purchases and more. Second, we perform the necessary research to equip the customer with documents, letters, addresses, and phone numbers for the resolution process. We also provide phone support and documentation logs for each victim.

What is on the horizon as far as identity fraud protection?

There is a new generation of products coming that will make it much harder on identity thieves. The recently launched Secure Authentication and Fraud Reduction (SAFR) system uses the GPS chip within a wireless telephone to match the point of sale with the location of the phone. In other words, if a consumer lives in New York but his credit card is used in Los Angeles, this technology will determine whether that consumer’s wireless phone is in Los Angeles. If it’s not, chances are that someone has stolen his credit card or his identity.

What is considered an ID theft?

Secure Identity Systems abides by the federal definition of ID theft, which is anything that involves the unauthorized use of a person's personal information.  It does not matter how the information was obtained, whether through a stolen wallet, a search through trash, files from a school or place of business, computer hacking, etc. The results may be the misuse of an existing credit, bank account or Social Security number; the creation of a new account; checking account fraud; misdemeanor and felony crimes; etc. Unlike some other providers, Secure Identity Systems will provide benefits even if the perpetrator of the identity theft is a member of the victim's family.

What is the screening process for the personal advocates?

Thorough criminal background and credit screening is performed on all advocates, as well as usual employment references, etc.

Is there an average time in which an Advocate would contact the customer?

Calls are initiated/answered within 2 business days.

If I become a victim, will I have to file a police report?

Yes. You must file a police report and sign the Federal Trade Commission's Identity Theft Affidavit to be accepted as a new victim account.

What if the police won't take a report?

Some police departments may be reluctant to write a report on a crime of this kind, taking the position that since the creditor suffered the financial loss, the “victim” is not really the victim. They may insist that the creditor file the complaint. The creditor, however, may choose not to cooperate, calculating that it's not cost-effective to spend the time and energy to do so. Nevertheless, even if the creditor won't prosecute, victims should insist that the police take a report. We provide you with the necessary documentation for filing a report. Also, if local law enforcement won’t take the report, the Attorney General’s office for each state will.

If I become a victim, will I need a lawyer?

Possibly, but it's unlikely. Some identity theft victims do require services that can only be performed by an attorney. Such services normally involve going to court to remove liens placed due to fraud and/or criminal warrants resulting from the stolen identity.

What if the client already has ID theft insurance?

First of all, insurance is just one component of an effective plan; by itself, it does not protect in the way monitoring does. Insurance does provide a reimbursement of expenses, but still relies on the victim to perform the tasks necessary to recover an identity. A homeowner’s insurance policy or credit card company’s identity theft insurance feature is activated if a victim is eligible to receive reimbursement for lost income and expenses during the recovery process. The victim would seek reimbursement from them first, up to the policy limit. Then, if the victim does not receive the full reimbursement from that company, he or she will be eligible to receive the difference up to the limits of our plan.

Are services only available in the US? What about military - if they are overseas how would this work?

Military personnel serving overseas are covered to the degree that the financial impact is covered under U.S. law. For example, if the theft occurs while the service member is out of the country,but it is related to his U.S. banking relationships, then it is within our ability to solve. We are not able to guarantee that we can fix a problem in another country, e.g. a Swiss bank account, as we have no relationship with law enforcement outside the U.S.

As far as military personnel are concerned, even though they are out of the country, they are still covered for both the recovery and the AIG reimbursement.

Resolution: We can provide recovery services regardless if the individual is residing in the U.S., but only to the extent that U.S. law allows.  If the criminal is operating in the U.S. using U.S. financial instruments, the individual is covered.  If the criminal is operating outside the U.S., Secure Identity Systems can not provide recovery assistance. 

Reimbursement:  The identity theft event can happen anywhere in the world, and the AIG policy* will reimburse a U.S. resident for expenses incurred outside of the U.S. to recover that resident’s identity. Claims are paid in U.S. dollars.

Are fees such as NSF fees for returned checks part of the expense reimbursement?

Fees for non-sufficient funds (NSF) incurred as a result of someone taking money from an account are part of the financial losses that can occur, thus are not covered by the expense reimbursement.  Consumers are urged to contact the financial institution, though, and request that those charges be refunded.

Who is eligible for coverage under the family plan?

The family plan covers a spouse or domestic partner within the household. It covers up to 4 children or dependents as long as they can legally be claimed as a dependent according to IRS standards.

Under the Family Plan, is there an age limit for dependents?

The family plan covers any dependant or life partner within the household. There is NO age limit as long as the individual may be claimed legally as a dependant (typically up to age 25).

Can "monthly alerts of suspicious activity" and warnings be given with an outbound telephone call instead of emailed?

Yes. Regardless of the method of contact, the program still includes the Secure Identity Systems four-pronged approach to ID theft protection.

How long will it take for a victim to receive reimbursement for expenses?  Also, will they receive a check or will it be an automatic deposit?

The reimbursement for expenses incurred in RECOVERING from identity theft is typically paid at the end of the recovery so that all expenses are accounted for in the claim.  However, if there is a need for an interim claim, that may be accommodated.  The claim will take approximately 90 days to be processed and paid. The expense reimbursement is paid as a check directly from the underwriting company to the consumer.

What are the hours of operation for the personal Resolution Advocates and what is their phone number?

They can call (615) 377-0761 Monday thru Friday from 9AM – 5PM CST.

How do I cancel my subscription?

Email us with your request at support@secureidentitysystems.com. Include your user name and subscription number.