The Silicon Review
Identity theft happens when a thief gains access to your personal information such as your name, bank account or credit card numbers, Social Security number and passwords for economic gain. Using your personal information, identity thieves can open new credit cards in your name; clone your debit card; make fraudulent purchases; change your billing address; obtain a new driver’s license or other official ID; and even use that ID when questioned by police.
As the world becomes increasingly digitized, people are more easily prone to identity theft. IdentityIQ® services, the flagship brand of IDIQ®, is recognized as one of the fastest-growing industry leaders in credit report monitoring and identity theft protection. The company features credit report monitoring; dark web and internet monitoring; alerts for possible suspicious activity; up to $1 million in stolen funds reimbursement underwritten by AIG; and more. IdentityIQ services has 100% U.S.-based customer service and fraud restoration support. The company, founded in 2009, is based in Temecula, California.
Scott Hermann is the co-owner and CEO of IDIQ and its flagship IdentityIQ brand. He spoke about the company in an exclusive interview with The Silicon Review. Below is an excerpt.
Q. Can you tell us in brief about the need for credit report monitoring?
Credit report monitoring is one of the most important things you can do to protect your identity. Everyone needs to have this protection. You have insurance on your house and your car, but your identity remains at risk. It’s much more likely to be stolen than your house is to burn down. Our plans include identity theft insurance, and we have experts who help you restore your identity if you’ve become a victim of identity theft.
Q. Even if you are very careful, criminals may still be able to access your information and steal your identity through data breaches. How can victims recover from damages and prevent future incidents?
With credit report and identity theft monitoring, we give you peace of mind, so you are able to act quickly if something suspicious is happening with your identity. Once you sign up for IdentityIQ services, you are on our radar. We provide insight into changes that are made to your credit report and certain non-credit-related information. Next, we alert you when we identify suspicious activity. If you become the victim of identity theft, we have your back to help get you back on track and help restore your identity.
Q. Adults aren’t the only targets for identity theft. Criminals have been known to steal the identity of children, especially because many parents or caregivers may not think to check their child’s credit history. How can children be protected?
You are correct; research has shown a staggering one out of 10 children has his or her Social Security number fraudulently used by another person before that child becomes an adult. We offer plans that not only provide you with up to $1 million in identity theft insurance underwritten by AIG, but we also provide identity theft insurance coverage to eligible children who live in your home.
Q. What are the anticipated trends in the security segment?
Identity theft crimes are on the rise. As we’ve seen with the coronavirus pandemic, there has been an unprecedented increase in scammers using people’s fears to try to steal their personal and financial information. Credit report and identity monitoring is essential in helping protect your personal information.
Q. Do you have any new services ready to be launched?
We’ve recently launched our DataBreachIQ® brand that offers planning, monitoring and response support for businesses in the event of a data breach. Our new MyScoreIQ® brand offers credit monitoring and identity theft protection featuring FICO® Credit Scores and reports.
Q. What are your trajectories for the next 5 years?
We have an impressive roadmap of services that provide credit report and identity theft monitoring as well as education for all stages of life.
For more information,
visit identityiq.com and idiq.com.
Meet the leader behind the success of IDIQ
Scott Hermann, co-owner and CEO of IDIQ, is one of the nation’s leading experts in credit report monitoring, identity theft protection and data breach management. He began his career in Chicago focusing on third-party data administration before joining financial services provider First American to run Confidential Credit Insight and the MyPrivateCredit, two of the first credit report monitoring products in the nation, which he grew from $3 million to $100 million before exiting the company in 2011. At age 28, Hermann was the youngest senior vice president for First American before the company split into First Advantage and CoreLogic®. At CoreLogic, Hermann served as senior vice president, running the mortgage and automotive divisions for the credit reporting segment (Credco®) where he managed $250 million in revenue per year as well as more than 50 strategic client and vendor relationships. Hermann was named a 2014 Rising Star Award winner by HousingWire magazine as one of the top young professionals under 40 in the mortgage and housing industry.
Hermann took the helm at IDIQ in 2017 with a passion to return to the roots of the credit report monitoring industry and a vision to better protect and empower consumers through the active delivery of credit and identity data customized for every stage of life. With innovation and the flagship IdentityIQ brand, IDIQ has experienced consecutive years of triple-digit growth. Under Hermann’s leadership, the company has an impressive roadmap for up-and-coming brands aimed to educate and protect consumers and businesses. IDIQ is recognized as one of the fastest-growing industry leaders in credit report and identity theft monitoring and data breach management and features 100% U.S.-based customer service and support.