LifeLock is a popular American anti-theft company owned by Symantec. In February 2017, Symantec acquired LifeLock for $ 2.3 billion, which develops solutions to protect against theft of personal data. According to forecasts of Wall Street analysts, including this acquisition, Symantec’s revenue could grow 16.3% to $ 1.27 billion, with earnings expected to increase from $ 0.32 to $ 0.44 per share.
The company – provider of cyber security solutions Symantec Corporation (SYMC, NASDAQ) on January 31 plans to submit a quarterly report. While investors are not sure that the company will be able to achieve the previously established forecast indicators, and reduce the forecast. However, Symantec has a serious driver for growth in the medium and long-term – the newly acquired company for the protection of personal data.
Symantec, taking into account the current trends in the protection of personal data, has decided to increase marketing costs in this area of business. This promising area of cyber defense already in the medium term can become a serious driver of the company’s growth. According to Symantec estimates, in 2017, hackers stole about $ 172 billion from 978 million users in 20 countries. In the US alone, 143 million people were kidnapped by cybercriminals in 2017, who stole $ 19.4 billion. Specialists in the field of digital security predict the growth of identity theft due to the widespread use of the Internet of things. Therefore, the demand for solutions from LifeLock will grow, which will lead to the growth of the Symantec business. Not so long ago, Symantec launched a campaign to resell Norton antivirus and spyware removal software for LifeLock clients.
However, in the short term, Symantec may face some decline in profits due to increased marketing costs, as well as the sale of businesses to ensure the security of websites. It is with this that negative evaluations of some analysts on Wall Street are connected.
At the auction on January 29, SYMC shares fell 2.31% to $ 27.07. Market capitalization reached $ 16.65 billion.
The service combines a variety of technologies and technologies to ensure that you are safe. Mobile applications and real-time alerts communicate with what is happening. LifeLock is not another company using a standard data channel to access this information.
If you are fraudulent, the IDL LifeLock team is at your fingertips to help correct problems and restore your identity.
This can be a costly process, especially with legal fees, but LifeLock also helps here with damages and costs of up to $ 1 million due to identity fraud.
LifeLock is available as three products.
LifeLock Standard provides you with a social security number and credit alerts, as well as up to $ 25,000 to cover losses associated with identity fraud.
The cost of LifeLock Advantage of $ 19.99 per month increases the coverage of losses from ID theft to $ 100,000 and adds warnings about the activities of the bank and credit cards and monitoring of crimes recorded in your name.
Expenses of $ 29.99 per month on the top of LifeLock Ultimate Plus allow you to receive a refund of $ 1 million for stolen funds, notifications of 401 (k) and investment activities and add three credit reports on credit transactions and score scores.
You can additionally add Norton Security Online to each of these plans, possibly by blocking malicious software before it can steal any of your personal information.
Norton Security Online is not as powerful as the full package of Norton Security, but it gives you strong protection against online threats (Symantec takes the sixth place in the AV-Comparatives Real-World Protection tests for July-November 2017.
LifeLock does not offer a free trial, but it’s still more generous than you might expect.
Other LifeLock services include:
- Help to retrieve the contents of a lost or stolen purse.
- Change address alerts to prevent identity theft.
- Online patrols to catch the sale of your personal information.
- 1 million US dollars to compensate for the cost of identity theft, if you become a victim when you are registered with Lifelock, and the theft is associated with a defect or failure in their maintenance.
The Advantage and Ultimate Plus plans now include notifications of data violations and credit card verification, verification and a savings account.
- Lifelock can warn you about the signs of identity theft, but they cannot actually take action on this information to clear theft or stop future attacks.
- Warnings about fraud complicate the process of approving a loan. Banks must undergo an additional verification process to ensure that you are applying for a loan, so instant approval becomes difficult. Using the mobile phone number as the contact number, you can quickly contact it.
- LifeLock services are what you can do for free, except for a $ 1 million guaranteed. Ordering your annual credit reports, rejecting pre-approved credit card offers and placing a fraud alert in your credit report can be free.
- You cannot control your credit for a year. LifeLock orders all three credit reports simultaneously, and you must leave the remaining 11 months ignorant about the state of your loan or pay your credit report.
- Certain types of identity theft go unnoticed because they are not included in your credit report. This includes new cell phones, utilities installed in your name, tax fraud or someone getting a driver’s license or a passport with your name.
LifeLock Scandal? In 2007, The Phoenix New Times published a story about the origins of Lifelock and the shady past of its founder (Robert Maynard, Jr.). Maynard allegedly uses a fake story about identity theft to promote LifeLock, but it is suspected that he committed identity theft and used his credit repair company (which was closed by the Fed) for unauthorized debiting from customers’ accounts.
Compared with loan monitoring services, LifeLock is the best offering prevention services, not just theft warning after identification. For some people, paying $ 10 a month is a waste, but for people who will not forget to update fraud alerts or order their annual credit reports, $ 10 is just an ounce of prevention.
The fee for Lifelock may not be worth it, especially if you are offered free credit monitoring through another service. For example, from a company that has suffered a data violation. You can also get free credit monitoring for your Trans-Union credit report through CreditKarma.com and your credit report to Experian via CreditSesame.com, twice a year you can get a free credit report from Equifax through Quizzle.com.