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LifeLock Settles with FTC Over “Deceptive” Advertising
By Sarah Pierce
The Federal Trade Commission announced this week it’s reached a $12 million settlement with the security company LifeLock. You probably know LifeLock as the company that’s so confident they can protect you from identity theft that they display their CEO’s Social Security number on the side of a truck in their TV ads.
According to the lawsuit, FTC claims LifeLock has deceived customers about its ability to protect them from identity theft. FTC chairman, Jon Leibowitz, says, “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.”
Hmmm…could it be the same truck that has the CEO’s Social Security number on it?
Two specific falsities mentioned in the lawsuit are LifeLock’s claim that they can guarantee their customers won’t have their identities stolen (the FTC says it’s impossible to guarantee this) and that LifeLock can protect customers from all forms of ID theft (in truth, they can only offer limited protection against only some forms of ID theft. For example, LifeLock can only protect against new accounts being opened in your name, not the theft of existing accounts — the most common type of identity theft. LifeLock also offers no protection against medical or employment identity theft.)
The FTC will use $11 million of the settlement to provide refunds to customers. If you’re a current or former LifeLock customer, you may be receiving a letter soon detailing how you can apply for this refund.
For more information, visit www.ftc.gov/lifelock.
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Updated March 12th, 2010
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8 thoughts onLifeLock Settles with FTC Over “Deceptive” Advertising
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Please send me information on how to file a claim for a settlement. I had LifeLock’s Premier coverage for me and my family for several years. During that time my house was burglarized and our Social Security Cards and Birth Certificates were stolen and I was informed that they had been purchased by someone. I tried to file a claim with LifeLock and they said they don’t reimburse their clients for their loses regardless of their claim in their advertising to do so. I have a 15 page Police Report to validate my claim.
Add me. I’ve been with lifelock for a number of years.
Yes I’m one of their customers. Please send me an letter please.