Identity theft is a common cause of anxiety in modern society, and it’s pretty justifiable. According to a recent survey from US News, almost three quarters of adults have experienced at least one case of identity theft, and 27% have experienced more than one. In 2022 there were more than 1.1 million reports of identity theft, costing Americans a total of $8.8 billion dollars with a median of $650. One-in-five respondents reported that they continue to suffer financial consequences to this day. It’s no wonder that a multi-billion-dollar industry has sprung up around protecting against identity theft. But does it make sense to pay for an identity theft protection service? Or is it just snake oil?