Washington, D.C. (AHN) - An identity theft security firm made up of former federal agents forecasts a rise in identity theft cases. In 2006 $56.6 billion worth of identity theft types of fraud were recorded.
iSekurity president Reginald Ball, in an exclusive interview with AHN Media, said, "We see these numbers rising, not only because identity theft is a crime that usually goes unpunished, but because most of the recorded data is incorrect."
Ball explained that the real facts and figures behind identity theft are not known and larger than expected because many of these types of crimes were not properly reported.
He advised Americans who suspect they have been victimized by identity theft groups to seek the service of firms that offer more than just fraud monitoring. Ball's warning stems from a lawsuit filed in Arizona against Lifelock, which alleged it pays much less than the much-advertised $1 million guarantee.
Lifelock warns banks and other businesses of possible identity thieves, but if the banks ignore the warning, the company's subscriber who was an identity theft victim would not be paid the guarantee because the banks set aside its warning.
Ball pointed out instead of just monitoring and issuing warnings, iSekurity investigates the crime on behalf of its clients done by its team of over 100 field agents with background in the Secret Service, FBI, IRS, DEA, ATF, Customs and Postal Inspection.
Ball assured iSekurity clients the company is committed to locate the criminal and stop him from further victimizing other people. He promised to pay clients $11,000 if iSekurity could not identify the thief within 12 months the crime was committed.