Do credit monitoring and ID protection services do much for breach victims?
It has become a staple for companies that are hit by big data breaches: extending free crediting monitoring and identity protection services to customers whose sensitive personal information is at risk. There’s nothing wrong with companies doing that, say consumer advocates — but those advocacy groups also say breached companies can do much, much better. The latest company to get hit by hackers and then offer credit monitoring or identity protection services, Geico, last week outlined a package that’s a little improved above the usual versions, one advocate said. These existing services seem to offer help, yet in some cases that benefit is limited and in others it’s difficult to measure their effectiveness. But overall, there’s little incentive for companies to offer improved redress, consumer advocacy groups contend. “Most breached entities go with credit monitoring because it’s a relatively inexpensive thing for someone to contract with to provide,” said Susan […]
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