An identity theft protection company offers three primary services:
- Monitoring: The company will monitor your accounts for suspicious activity, the web and black market websites for your personal information, and your credit. They will also keep an eye out for any new accounts opened in your name, be they bank accounts, TV subscriptions, utilities, or loans. Whenever they spot something suspicious, the customer is notified so they can take the necessary steps to protect themselves.
- Restoration: If your identity has been compromised in any way, the company will have expert staff on hand to guide you through the process of restoration. This could mean canceling and replacing cards, removing fraudulent charges, and freezing your credit, among other things.
- Insurance: In the event that you suffer monetary damages as a result of identity theft, the service includes insurance to compensate each customer.