McAfee, Inc. (NYSE:MFE), the world’s largest dedicated security
company, today announced that it has launched McAfee® Identity
Protection, one of the most comprehensive and easy to use identity
protection services on the market. The product features proactive
identity surveillance which keeps consumers’ identities safe by
providing multiple layers of protection, including monitoring the
major credit reporting agencies and public records as well as
Internet scanning for indicators of identity theft.
Javelin Research reports that individuals who took six or more
months to detect fraud suffered more than 14 times the cost of
those victims who discovered fraud in its early stages.1 McAfee
Identity Protection alerts users of potential threats to their
identities, ultimately saving them both time and money.
“There have been more victims of identity theft in the last year
than any other time in the past six years2 and consumers repeatedly
rank identity theft as a top concern because of the substantial
remediation costs,” said Todd Gebhart, executive vice president of
McAfee consumer, mobile and small business. “To address this market
need, McAfee has created a product that is truly customer-focused
and proactive. We put victims first, offering a best-in-class fraud
resolution service that provides unlimited support, and the
strongest collection of identity monitoring and alerting
capabilities in the industry. In combination with a McAfee PC
security suite, McAfee Identity Protection offers complete personal
and online identity protection.”
Industry Statistics
- 59 percent of identity theft
happens through lost or stolen wallets and criminals ‘dumpster
diving’ to get financial records and other sensitive personal
information3
- The average fraud amount per
victim is $4,8414
- 50 percent of victims do not
discover that someone has stolen their identity for several months
or years, according to the 2009 ITRC Aftermath Study
- For as little as $20, criminals
can purchase a fake Social Security card at “ID mills” around the
country5
- Every year, the Social Security
Administration (SSA) receives eight to nine million earnings
reports where the name doesn't match the Social Security
number6
Consumers at Risk: McAfee Identity Theft Risk
Assessment Tool Findings
McAfee also released findings from its Identity Theft Risk
Assessment Tool, a free service that can help consumers determine
how they are leaving themselves and their identities at risk.
McAfee evaluated responses over a nine-month time frame with more
than 5,743 participants:
- 47 percent of respondents carry
their Social Security card with them at all times. Experts say this
is alarming, as lost/stolen wallets account for a large portion of
identity theft
- 88 percent of consumers have
responded to emails and instant messages from people they do not
know. McAfee Labs researchers warn against this, as cybercriminals
develop elaborate scams to steal consumers’ information through
email scams
McAfee Identity Protection Key Benefits
McAfee is the only company to offer a full range of identity
protection services including credit and public records monitoring,
Internet scanning, alerts, lost wallet protection, identity
restoration services, a $1 million product guarantee, and Internet
security products to address online identity theft.
Comprehensive Detection: The
proactive identity surveillance capability constantly scans
multiple sources for indicators of identity theft. This includes
millions of Internet black market sites, chat rooms, blogs, and
emails where identity thieves obtain stolen personal information.
Additional monitoring of public records and change of address
databases assists in the early warning of potential identity theft.
McAfee Identity Protection also includes daily monitoring of all
three major credit bureaus (Experian, Equifax and TransUnion) to
quickly detect and alert consumers to any red flags associated with
their credit file such as new account creation or delinquent
payments.
Effortless Protection Against
Theft: McAfee Identity Protection is designed to give
consumers an effortless way to protect themselves and quickly
resolve issues associated with their identity. The product will
alert users by email or text when potentially suspicious activity
is detected, and lost wallet protection helps users safeguard their
credit/debit card accounts by assisting customers in canceling and
ordering replacement cards. McAfee Identity Protection also allows
customers to stay on top of their credit reports with unlimited
access to Experian credit reports.
Complete Resolution and $1 Million
Product Guarantee: Dedicated fraud resolution experts work with
consumers beginning to end to help fix identity theft issues.
McAfee Identity Protection is designed to provide peace of mind and
also includes a $1 million product guarantee if the product fails
and a subscriber is ever victimized while his or her membership is
active.
Easy to Use: Leveraging McAfee’s
expertise in creating consumer-friendly security products, McAfee
Identity Protection features an intuitive interface that clearly
displays users’ personal identity health as well as actions
required. The Web-based McAfee Identity Protection requires no
software installation and is available anywhere with an Internet
connection.
McAfee Identity Protection is priced at $109.99 for an annual
subscription, or $9.99 on a monthly basis for an individual
account. Consumers can also select the family option which includes
coverage for the subscriber, another adult in the household and
children for an annual subscription of $199.99 or $16.99 on a
monthly basis. McAfee expects to offer product bundles of McAfee
Identity Protection with McAfee core security products in the
second half of this year.
McAfee Identity Protection was co-developed with Experian’s
ProtectMyID.com™, a leading, full-service provider of identity
theft detection, protection and fraud resolution. McAfee is not a
credit repair organization and McAfee Identity Protection is not a
credit repair service. McAfee Identity Protection cannot remove
legitimate credit history information from a consumer’s credit
report.
McAfee Taps Identity Theft Expert Robert Siciliano
McAfee also announced it has recruited leading identity theft
expert and best-selling author, Robert Siciliano, as a McAfee
consultant and identity protection expert. Mr. Siciliano consulted
on the development of McAfee Identity Protection product, and will
continue to team with McAfee to drive awareness about identity
theft risks. Consumers can read his blog at
www.mcafee.com/id-theft-expert.
“I’ve been in the business for more than two decades and I’ve
watched identity thieves become increasingly savvy and relentless,”
said Siciliano. “The tales I’ve heard would boggle your mind. Most
of the time, consumers don’t even know they’ve been victimized,
making the damages more devastating and increasing the hours it
takes to resolve the issue. In some case, it can take up to three
years to clear your name. Consumers have to wake-up to the
dangers.”
Resources:
- Consumers can visit the McAfee
Facebook page or the McAfee Counter Identity Theft site for safety
tips and more information about identity theft
- Information for press can be
found at: http://www.counteridentitytheft.com/press
Sources:
1-4 Javelin Strategy and Research – 2009/2010 Identity Fraud
Survey Report
5-6 Good Housekeeping – November, 2007
About McAfee, Inc.
McAfee, Inc., headquartered in Santa Clara, California, is the
world's largest dedicated security technology company. McAfee is
committed to relentlessly tackling the world's toughest security
challenges. The company delivers proactive and proven solutions and
services that help secure systems and networks around the world,
allowing users to safely connect to the Internet, browse and shop
the web more securely. Backed by an award-winning research team,
McAfee creates innovative products that empower home users,
businesses, the public sector and service providers by enabling
them to prove compliance with regulations, protect data, prevent
disruptions, identify vulnerabilities, and continuously monitor and
improve their security. http://www.mcafee.com
McAfee and McAfee Identity Protection are registered trademarks
or trademarks of McAfee, Inc., or its subsidiaries in the United
States and other countries. Other names and brands may be claimed
as the property of others. The product plans, specifications and
descriptions herein are provided for information only, subject to
change without notice, and without warranty of any kind, express or
implied. © 2010 McAfee, Inc. All rights reserved.
Mcafee (NYSE:MFE)
Historical Stock Chart
From Jun 2024 to Jul 2024
Mcafee (NYSE:MFE)
Historical Stock Chart
From Jul 2023 to Jul 2024