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Affinion Group acquires CardCops

Global marketer bolsters its ID fraud business with Internet monitoring & protection company

Affinion Group, a global affinity marketer, has acquired CardCops, a Malibu, Calif.-based ID theft protection, data monitoring and analysis technology solutions leader, further solidifying the groups position as a the preeminent identity protection provider.  Terms of the deal were not disclosed.

"As a leader in credit monitoring and identity theft protection, we are excited to add CardCops and its advanced technologies to our already extensive fraud prevention and protection solutions business," said Tom Rusin, chief revenue officer and general manager of Affinion Group.  "CardCops is the premiere ID theft watchdog on the Internet, and this innovative company -- combined with our strong suite of ID theft prevention products -- is ushering in a new era of identity fraud protection."

CardCops was founded in 1999.  Its pioneering technology monitors the Internet for fraudulent activity involving consumers personal information such as credit card account, debit card account. PIN numbers, social security numbers, mothers maiden name and many other types of personal information.  CardCops collects compromised personal information from foreign "underground" chat rooms where full sets of personal information are bought and sold by identity thieves for US$10 to US$30.  CardCops exclusive technology will alert members instantly if their personal information has become compromised, and assist them with keeping their identity safe.

"Being part of the Affinion Group gives CardCops more resources to gather more data to deliver greater protection to Americans, e-commerce companies and businesses across the country," said Dan Clements, chief executive officer of CardCops.  "These ID thieves on foreign soil who attack Americans are the modern day bank robbers, and we can stop them before they even commit the crime."

By using CardCops sophisticated monitoring capabilities and comprehensive proprietary database, Affinion Group will help financial institutions protect customers vital data while enabling online merchants to sell products and services securely.

Affinion Group and CardCops partnered last year to launch a sophisticated new tool called ID Secure that uses cutting-edge public records, Social Security number and credit card monitoring technology to fight identity theft. ID Secure (http://www.idsecure.com/), a revolutionary new solution, arms consumers with an unprecedented way to proactively manage their identity information and avert potential ID theft and fraud.

Identity theft is the fastest growing crime in America, with 27.3 million victims in the past five years, and nearly 20 million in the past two years alone, according to a study from Javelin Strategy & Research.  This crime costs more than US$56 billion, or US$6,383 per victim, annually, and has become so prevalent, that an identity thief strikes on average every 3.5 seconds.  In fact, ID theft has now surpassed drug trafficking as the No. 1 crime in America, according to the Justice Department.

 

 

For more information, please send your e-mails to swm@infothe.com.

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