Online banks have insurance services that protect online operations against a number of threats, the biggest problem in these cases being the identity theft. Several years ago few insurance companies provided a single identity theft insurance policy. Nowadays clients can use a wide range of security measures like credit monitoring, fraud alert services and even home shredding. There are companies providing you with all you need, and the client can do some of the protection himself by tracking down a list of phone numbers, filling some forms or destroying documents before throwing them at the trash can. For a small extra fee you can use protection software (Privacy Guard, for example) which can provide you with access to your credit history reports and you can check them for accuracy instantly.

The software has other features as well. The daily monitoring feature looks for changes to your credit file in order to find identity theft and alerts you if someone is trying to open an account in your name or produces changes in your credit score. In this case it provides you with a form to request changes at the credit bureaus. Later you will receive a new credit report to see if the errors have been corrected. You can also look for who has been adding information to your report and who can access your credit history. Information provided by the software can later be used as evidence in a court of law, as well as restoring your good name. The user also gets an insurance of his accounts, the insurance benefits being provided by an insurance company.