For every dollar Americans lose on identity fraud, there's a dollar to be made, if the spate of identity theft marketing is any indication. For every dollar Americans lose on identity fraud, there’s a dollar to be made, if the spate of identity theft marketing is any indication. The credit bureaus are hawking their credit monitoring services. Insurance companies cross-sell you for identity theft coverage when you call for homeowner’s insurance. And then there are the prepaid legal services, credit restoration services, and do-it-yourself kits and books for earning back your good namesome from established companies, some distinctly fly-by-night. It’s enough to make you clutch your wallet.“This will potentially be a significant portion of our volume,” says Troy Allen, a vice president of Kroll Fraud Solutions. He notes that in the first three months that Kroll has been offering its identity theft product, which includes credit monitoring and restoration services, one business partner signed up 100,000 members. “Identity theft is a big, big problem,” he says.It remains to be seen, however, how much muscle there really is in all this marketing. The average victim of serious identity theft spends 60 hours restoring his identity, but insurance will hardly cover all of that. At AIG eBusiness Risk Solutions, for instance, Vice President of Business and Product Development Nancy Callahan is vague about when the lost-wages coverage actually kicks in. “We try to apply common sense,” she says.Then there are the memorable ads for Citibank’s “Identity Theft Solutions,” in which a fraudster incongruously channels a victim who is calmly cleaning a pool, sitting on a couch or having her nails done. There was plenty of buzz about the campaign, but Citibank was mum on exactly what was for sale. The company did not return repeated calls asking for details, and a search of Citibank.com for “identity theft” revealed little. Guess the hype didn’t reach the Web department after all. Related content news analysis DHS unveils one common platform for reporting cyber incidents Ahead of CISA cyber incident reporting regulations, DHS issued a report on harmonizing 52 cyber incident reporting requirements, presenting a model common reporting platform that could encompass them all. By Cynthia Brumfield Sep 25, 2023 10 mins Regulation Regulation Regulation news Chinese state actors behind espionage attacks on Southeast Asian government The distinct groups of activities formed three different clusters, each attributed to a specific APT group. By Shweta Sharma Sep 25, 2023 4 mins Advanced Persistent Threats Cyberattacks feature How to pick the best endpoint detection and response solution EDR software has emerged as one of the preeminent tools in the CISO’s arsenal. Here’s what to look for and what to avoid when choosing EDR software. By Linda Rosencrance Sep 25, 2023 10 mins Intrusion Detection Software Security Monitoring Software Data and Information Security feature Top cybersecurity M&A deals for 2023 Fears of recession, rising interest rates, mass tech layoffs, and conservative spending trends are likely to make dealmakers cautious, but an ever-increasing need to defend against bigger and faster attacks will likely keep M&A activity steady in By CSO Staff Sep 22, 2023 24 mins Mergers and Acquisitions Data and Information Security IT Leadership Podcasts Videos Resources Events SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe