Michael Arrington wrote a great piece in Techcrunch on one of the latest additions to our portfolio network, TrustID. Their newest service, IDFreeze, is targeted at protecting consumers from the growing issue of identity theft. I recently became a customer ($7.95/mo) and will report back on the experience.
As Michael writes:
"TrustedID launched their first product, IDFreeze
yesterday (and announed funding by Draper Fisher Jurveston) to help
protect consumers from identity theft. I met with co-founder Scott
Mitic today about his company.
Identity theft is a really big and really expensive problem. In the
U.S. alone, ten million people per year fall victim to identity thieves
– and sometimes it takes years to track down what’s happened, shut down
fake credit accounts in victims’ names and restore their credit and
name to good standing. Shredding mail and other personal documents is
not enough to protect yourself, either. Last year, over 50 million
consumer data records were lost by corporations. The FTC estimates that
identity theft costs our economy about $50 billion per year. For more
information on identity theft, see here."