Lifelock fined $12m for False claims regarding their Identity Theft Prevention and Data Security

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Lifelock fined $12m for False claims regarding their Identity Theft Prevention and Data Security

Submitted by Safe Internet on Tue, 2010-03-16 17:14

Guest post by: Linda Criddle, president of Safe Internet Alliance

“While LifeLock promised consumers complete protection against all types of identity theft, in truth, the protection it actually provided left enough holes that you could drive a truck through it,” said FTC Chairman Jon Leibowitz, when announcing the $12 million settlement between LifeLock, Inc. and the FTC.

According to the FTC's press release, Lifelock "will pay $11 million to the Federal Trade Commission and $1 million to a group of 35 state attorneys general to settle charges that the company used false claims to promote its identity theft protection services, which it widely advertised by displaying the CEO’s Social Security number on the side of a truck."

The case represents one of the biggest FTC-state coordinated settlements on record and a tremendous win for consumers.

Errant industry players have been put on notice that product claims of internet safety and privacy had better measure up. And protects consumers mislead by the false claims.

"This agreement effectively prevents LifeLock from misrepresenting that its services offer absolute prevention against identity theft because there is unfortunately no foolproof way to avoid ID theft,” Illinois Attorney General Lisa Madigan said. “Consumers can take definitive steps to minimize the chances of having their personal information stolen, and this settlement will help them make more informed decisions about whether to enroll in ID theft protection services.”
Hats off to the FTC and the participating attorneys general.

Another American CEO lying

Submitted by Anonymous on Wed, 2011-10-19 08:03.

Another American CEO lying and making big bucks doing it...No news here folks...Move along now... There are a lot of articles on the issue on search http://byfiles.com by the way. Wonder why Lifelock didn't spend more money lobbying congress, like Microsoft did, then they wouldn't even be paying this fine...

So sad somebody has claimed

Submitted by Anonymous on Mon, 2011-09-26 12:18.

So sad somebody has claimed he can prevent identity theft but in reality could not. This brought a false sense of security for the persons who bought to this bogus claim. But I really want somebody to invent something to prevent id theft because it is so scary to think somebody actually can steal it. - Kyle Thomas Glasser

Safe Internet Alliance