Consumers Are Ditching The $2.4 Billion ID Theft Protection Market

Andy Greenberg writes:

As purse strings have tightened over the last couple of years, most consumers no longer think spending $200 a year on identity theft protection services makes sense. And they’re probably right.

A study out Tuesday from identity-theft-focused Javelin Research shows that only about 25% of consumers now subscribe to an identity theft protection service, down a crushing 42% since 2008.

Read more on Forbes.

The article offers several possible — and plausible — explanations, but one possible factor that it doesn’t mention specifically is whether fewer people are signing up because they expect they will be offered free services if they are notified of a breach.

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