Kroll to offer credit monitoring services for helping UK companies combat data breach

By Megha Bhattacharya

Kroll, a division of Duff & Phelps, announced that it will now be offering credit monitoring services as a part of its suite of identity and fraud protection solutions available to UK companies that are responding to a data breach. The credit monitoring service alerts members when any activity is detected on their credit profile. If the activity is determined as fraudulent, Kroll’s fraud investigators offer guidance for preventing further fraudulent activity and provide restoration assistance if identity fraud is confirmed.

“Providing the same level of identity support, regardless of the home countries of the affected individuals, helps ensure that everyone receives meaningful tools to help safeguard or restore their identity,” said Brian Lapidus, Managing Director and Global Leader of Kroll’s Identity Theft and Breach Notification practice. “By including credit monitoring alongside identity monitoring, consultation and assisted restoration services, any company who collects and stores data can now offer their UK consumers the same benefits that are commonly available in other jurisdictions.”

Kroll stated that the UK led Europe in both breach complaints and notification events between May 2018 and March 2019. At the same time, identity fraud saw an 8% increase, forcing companies to confront the long-term costs of a data breach, including reputational damage and customer turnover.

The company is currently planning to expand its data breach notification services globally. It also offers full services in the US, Canada, and the UK with future additions of the EMEA and APAC regions.

Andrew Beckett, Managing Director, and EMEA Cyber Risk leader said, “With identity fraud increasing, we’re seeing an interest from organisations who want to provide the greatest protection for their customers who have entrusted them with their personal data,” says Beckett. “Credit and identity monitoring can’t prevent identity fraud, but when combined with Kroll’s consultation and restoration services, you know you’re implementing a breach response plan that leaves those impacted with the best defense available.”