Avast Expands Identity Protection Solution to Help Tackle Rise in Scam and Identity Theft

Rhea-AI Summary

Avast, part of Gen™ (NASDAQ: GEN), has expanded its identity protection solution, Avast Secure Identity, to 15 new countries beyond the US. This expansion comes amid rising identity theft risks and data breaches, with the Q3/2024 Gen Threat Report noting a 614% increase in 'Scam-Yourself Attacks'.

The service offers comprehensive protection features including: Dark Web Monitoring for personal information, Social Media Monitoring for compromised accounts, Restoration Support with specialists, Stolen Wallet Assist, and Financial Monitoring. Identity Theft Insurance is available in Australia and New Zealand, while Financial Monitoring is offered in the UK, Australia, and New Zealand.

The expansion includes major markets such as the UK, France, Germany, Brazil, Mexico, Spain, and Italy. AVG, also part of Gen, has expanded its Secure Identity product to these countries with similar capabilities.

Positive

• Geographic expansion to 15 new markets indicates business growth
• Product portfolio expansion with comprehensive identity protection features
• Strategic response to growing cyber threats and market demand

Negative

• availability of key features (Identity Theft Insurance and Financial Monitoring) in most markets

Insights

Product Strategy Analyst

The global expansion of Avast Secure Identity reveals a strategic pivot to capitalize on the growing $20B identity protection market. The timing is particularly shrewd, coinciding with the 614% surge in Scam-Yourself Attacks reported in Q3/2024. By targeting 15 new markets simultaneously, including major economies like the UK, Germany and Australia, Gen is positioning for substantial revenue growth in its security portfolio.

The product's feature set, particularly the combination of dark web monitoring with restoration support, addresses a critical market gap. Most competitors offer monitoring but lack comprehensive recovery services. This differentiator, coupled with the financial monitoring features in select markets, suggests a calculated approach to market penetration with room for premium upsell opportunities.

Cybersecurity Expert

The expansion of identity protection services comes at a important moment in the cyber threat landscape. The mentioned surge in "Scam-Yourself Attacks" represents a sophisticated evolution in social engineering tactics that traditional antivirus solutions struggle to combat. The integration of Avast Secure Identity with antivirus protection creates a more robust security stack that addresses both technical and human vulnerability vectors.

The dark web monitoring and social media surveillance capabilities are particularly noteworthy as they provide early warning systems for credential compromise. However, the real value proposition lies in the Identity Restoration Specialists service - a human element that's essential for navigating the complex process of identity recovery, which typically takes 100-200 hours for victims to resolve independently.

Market Research Analyst

The geographic expansion strategy reveals careful market selection based on digital maturity and regulatory environments. The inclusion of financial monitoring in the UK, Australia and New Zealand, along with identity theft insurance in ANZ markets, indicates a nuanced understanding of regional market readiness and regulatory frameworks. This phased feature rollout approach minimizes regulatory risks while maximizing market penetration potential.

For investors, this expansion represents a significant growth catalyst for Gen's consumer security segment. With identity theft protection services typically commanding $15-30 monthly subscriptions and high retention rates, this move could materially impact recurring revenue streams. The timing aligns perfectly with heightened consumer awareness of cybersecurity risks, potentially driving faster adoption rates than historical patterns.

Avast debuts Avast Secure Identity to 15 new countries outside of the US

TEMPE, Ariz. and PRAGUE, Jan. 16, 2025 /PRNewswire/ -- Avast, a leader in digital security and privacy and part of Gen™ (NASDAQ: GEN), has expanded the availability of its identity protection solution, Avast Secure Identity, to help people around the world keep their identity safer from escalating scam and identity theft risks.

Over the past year, there's been a surge in large-scale data breaches. These breaches are an opportunity for cybercriminals to take over peoples' identities by stitching together personal data from breaches with other information from public sources. The risk of identity theft increases as criminals attempt to break into devices using carefully crafted social engineering attacks that manipulate people into making security mistakes or divulging their private information. The recent Q3/2024 Gen Threat Report highlighted a 614% increase in "Scam-Yourself Attacks," where cybercriminals use psychological manipulation tactics to trick people into installing malware on their own devices, allowing them to gain access. Avast Secure Identity combined with Avast antivirus provides comprehensive protection against identity theft and other threats like Scam-Yourself Attacks that can lead to it.

"Identity theft is on the rise, and as the severity and frequency of data breaches increases, cybercriminals will continue to use the personal information they have access to in even more sophisticated ways," said Leena Elias, Chief Product Officer at Gen. "Identity theft has no borders. It can happen to anyone, anywhere, and potentially cause lasting financial and reputational harm. If the worst happens, the process of restoring somebody's identity is often exhausting. We've expanded the availability of Avast Secure Identity so that more people around the world can better protect their identities and receive the support they need to restore them if they fall victim."

Avast Secure Identity continuously monitors for personal information across private forums and the deep and dark web and notifies customers if any of their personal information is detected. Personalized guidance from knowledgeable Identity Restoration Specialists gives people peace of mind if identity theft occurs. 

Key features available in Avast Secure Identity include:

• Dark Web Monitoring: Continuously scans dark web sites and forums, notifying people if their personal information such as credit card and passport numbers is found.
• Social Media Monitoring: Monitors popular social media accounts, notifying users of compromised accounts or risky links.
• Restoration Support: Offers access to Identity Restoration Specialists who guide victims of identity theft through the recovery process, including mediation and disputing fraudulent activities.
• Stolen Wallet Assist: Helps people by guiding them on how to cancel or replace key documents like credit cards and driver's licenses if their wallet is stolen.
• Financial Monitoring: Tracks recurring subscriptions and alerts people to suspicious transactions on bank accounts that may indicate fraud. Currently available in the UK, Australia and New Zealand.
• Identity Theft Insurance: Provides coverage for specific expenses and losses, including legal expense reimbursement and lost income for time away from work to correct financial records, due to identity theft. Currently available in Australia and New Zealand only.

Avast Secure Identity is now available in 15 additional countries outside of the US, including the UK, France, Germany, Australia, New Zealand, Brazil, Mexico, Spain and Italy. For more information, please visit: https://www.avast.com/en-gb/secure-identity.

AVG, a leader in software security products and part of Gen, has also expanded its Secure Identity product to these countries with these identity protection capabilities.  

Insurance Disclaimers:
Australia: Terms, conditions, exclusions and limitations apply, see the Identity Theft Insurance Australia Policy Information Booklet found on https://www.nortonlifelock.com/au/en/legal/ for details.
New Zealand: Terms, conditions, exclusions and limitations apply, see the Identity Theft Insurance New Zealand Policy Information Booklet found on https://www.nortonlifelock.com/aa/en/legal/ for details.

About Avast
Avast is a leader in digital security and privacy, and part of Gen™ (NASDAQ: GEN), a global company dedicated to powering Digital Freedom with a family of trusted consumer brands. Avast protects hundreds of millions of users from online threats, for Mobile, PC or Mac, and is top-ranked and certified by VB100, AV-Comparatives, AV-Test, SE Labs and others. Avast is a member of the Coalition Against Stalkerware, No More Ransom and Internet Watch Foundation. Learn more at Avast.com.

About AVG
AVG is a leader in software security products for families and individuals who want carefree connected living, and part of Gen™, a global company dedicated to powering Digital Freedom with a family of trusted consumer brands. AVG has an award-winning consumer portfolio including internet security, performance optimization, location services, data controls and insights, and privacy and identity protection, for PCs and mobile devices.  AVG products and services are continuously rated best-in-class by VB100, AV-Comparatives, and AV-TEST. Learn more at AVG.com.

Mike Healey	Allie Thompson
Gen press@GenDigital.com	Edelman for Gen Allie.thompson@edelman.com

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/avast-expands-identity-protection-solution-to-help-tackle-rise-in-scam-and-identity-theft-302352635.html

SOURCE Gen Digital Inc.

FAQ

What countries are included in Avast's 2025 Secure Identity expansion?

Avast has expanded Secure Identity to 15 countries including the UK, France, Germany, Australia, New Zealand, Brazil, Mexico, Spain, and Italy.

What features does Avast Secure Identity include in 2025?

The service includes Dark Web Monitoring, Social Media Monitoring, Restoration Support, Stolen Wallet Assist, Financial Monitoring (select countries), and Identity Theft Insurance (Australia and New Zealand only).

What increase in Scam-Yourself Attacks did GEN report in Q3/2024?

According to the Q3/2024 Gen Threat Report, there was a 614% increase in Scam-Yourself Attacks.

Where is Avast Secure Identity's Financial Monitoring feature available?

Financial Monitoring is currently available in the UK, Australia, and New Zealand.

Which countries offer Identity Theft Insurance through Avast Secure Identity?

Identity Theft Insurance is currently only available in Australia and New Zealand.