The Optus data breach has taught us the danger of identity theft and the ease in which it can happen – something leading internet security company Norton has already considered and made the centrepiece of its Norton 360 Advanced.
Released in June, Norton 360 Advanced is not only a comprehensive internet security solution with a secure VPN, password manager, parental controls and 200GB cloud storage – it is also an insurance policy against identity theft.
Customers are covered with up to $58,000 insurance for losses and expenses associated with identity theft insurance.
According to the Australian Institute of Criminology and ACCC Scamwatch, becoming a victim of cyber crime is more common than robbery, motor vehicle theft and break ins with one in four Australians affected.
Identity theft can happen when an individual’s personally identifiable information (PII) is obtained, usually without their knowledge, and then used to apply for credit cards, make unauthorised credit card purchases, take over existing accounts and create new financial accounts and loans.
And if we do fall victim to cyber criminals, it’s hard to know where to start to get back the money you lost from these fraudulent transactions which also have a negative effect on your credit score.
The identity theft insurance that’s part of the Norton 360 Advanced package includes coverage of up to $25,000 in legal expense reimbursements and up to $3000 for lost income.
Also covered for up to $25,000 is the “obligation to pay” cover for unauthorised bank, credit and loans and accounts in your name that were made without your authorization plus $5,000 for miscellaneous expenses.
But it doesn’t end there,
Norton will also steer you through the process of resolving identity theft issue through identity restoration specialists who are on call seven days a week.
This helps customers when dealing with third parties, credit card companies, financial institutions, collection agencies and government agencies while they are putting their identity back together again.
Another part of Norton 360 Advanced is social media monitoring which can keep an eye on Facebook, Instagram, Twitter, LinkedIn and YouTube and notify you if there is any suspicious activity linked to your account.
One of the main features of Norton 360 Advanced is Dark Web Monitoring which also keeps an eye on the dark web where personal information is bought and sold.
Norton 360 Advanced is priced at $257 and offers protection for up to five PCs, Macs, smartphones or tablets for one year and includes the identity theft insurance for up to $58,000.
