Affinion Makes Card Security Acquisition
NORWALK, Conn. -- Affinion, a noted ID theft and marketing firm for credit unions, has acquired CardCops, a Malibu, Calif.-based ID theft protection, data monitoring and analysis technology solutions leader. 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."
Affinion Group and CardCops partnered last year to launch a new tool called ID Secure that uses public records, Social Security number and credit card monitoring technology to fight identity theft, Affinion said. CardCops' technology monitors the Internet and collects compromised personal information from foreign "underground" chat rooms where full sets of personal information are bought and sold by identity thieves for $10 to $30, Affinion said.
"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 added.