ProtectMyID is a service provider that identifies and protects against identity theft and provides solutions for dealing with financial loss due to identity fraud. ProtectMyID works together with one of the largest credit bureaus in the world, Experian, to gain access and securely monitor personal identities of its users.
Through the surveillance alert functionality, ProtectMyID informs its users via a text or email message whenever the system detects activities related to potential identity theft. When monitoring a personal identity, ProtectMyID checks for nearly 50 of the most common indicators for identity theft by scanning the user’s credit card report on a daily basis. It also reduces the risk of identity thieves stealing credit and debit card numbers through online services that store that information. For bills and monthly statements, ProtectMyID monitors changes made to the address at the credit report level. In case it doesn’t detect any suspicious activity in the last 30 days, ProtectMyID informs the user that he is safe.
As of 2015, ProtectMyID uses the ChildSecure service to monitor cases in which an identity thief opens a credit report using the name of the user’s child.
In case a user loses his credit or medical insurance cards, the identity theft resolution agents who work for ProtectMyID make arrangements to cancel and replace those cards. If the companies require direct contact with the user, ProtectMyID agents provide guidance and support.