LifeLock CEO Todd Davis announced today that Ohio Valley Bank has selected LifeLock, the industry leader in identity theft prevention.
LifeLock will provide its identity theft prevention tool to be offered to their customers in Ohio and West Virginia.
"For one reason or another 2007 was a tough year for the state of Ohio in terms of the number organizations reporting losses of data," said Davis. "More than 1 million people have been affected by those losses and I'm proud that Ohio Valley Bank realizes the need to provide a preventative solution to their employees and customers."
The Federal Trade Commission reports that in 2006, residents of Ohio registered more than 14,000 fraud complaints. West Virginia had over 2,000 complaints. For the seventh straight year, identity theft is the fastest growing crime in the United States, costing Americans $1.1 billion annually.
Located in a secure facility in Tempe, Arizona, LifeLock enables "locks" by setting and automatically renewing fraud alerts with the major credit bureaus, removing member names from pre-approved credit card offers and junk mail lists. It is backed by a $1 million service guarantee. Recently, LifeLock added an additional service to all members - free of charge - called WalletLock. WalletLock works to cancel and replace all documents and personal identifying information inside a wallet if it is lost or stolen.
Ohio Valley Bank President and CEO Jeff Smith said, "Ohio Valley Bank takes the security and privacy of its customers very seriously. Too much focus has been taken on picking up the pieces after identity thieves strike. In addition, as a consumer who has had his own bank card compromised by an unscrupulous merchant, I believe that this partnership with LifeLock will provide our customers, including me, with proactive protection to prevent it from happening at all."