Feds say ID protector LifeLock violated $12M settlement

[TexasTowelie]

Source: AP

NEW YORK (AP) — The U.S. government says identity theft protection company LifeLock spent years violating a $12 million settlement for misrepresenting the protection it provides for customers.

Four years after LifeLock paid the eight-figure settlement related to false claims in its advertising, the Federal Trade Commission said LifeLock still had not set up a comprehensive program to protect sensitive data like credit card numbers, Social Security numbers and bank account numbers.

The agency also said that LifeLock didn't keep records it had agreed to maintain and falsely advertised that consumers' data received the same level of protection as financial institutions get and that consumers would be alerted as soon as the company discovered a potential problem. The FTC asked a court to find LifeLock in contempt and to order LifeLock to provide redress to consumers.

LifeLock said the FTC's actions and statements are related to past business practices and that it is prepared to defend itself in court. The Tempe, Arizona-based company said it has been cooperating and talking to the agency for a year and a half.

Read more: http://kdhnews.com/business/feds-say-id-protector-lifelock-violated-m-settlement/article_955a1c47-4a3d-5da7-b2a0-fe6c114381b1.html

[MADem]

1. I had a feeling that sounded too good to be true. I guess I was right! nt

[TexasProgresive]

2. The probably spend more than 12 million a year in advertising

The only thing that works is capital punishment. Put the CEO, CFO and CXXs in federal prison. sell off the assets and give the proceeds to the customers, stock holders get nothing. I know it sounds harsh but a piddling 12 million settlement is ludicrous. Do something that will get the attention of other companies that they can suffer repercussions that mean something.

[corkhead]

5. something along the lines of "I'll believe corporations are people when Texas executes one"

[FuzzyRabbit]

3. What did anyone expect? Rudolph Giuliani is Lifelock's TV pitchman.

[silvershadow]

4. If the truth was known, they probably provide nothing. Nada. Zip. Just take your money, and if

you get breached they probably just guide you through steps you could do on your own. What do you wanna bet?

[PSPS]

6. The whole "identity protection" industry is a scam.

[TexasTowelie]

7. How dare you defame an entire industry

before I do it.

[Politicalboi]

8. Why am I NOT surprised

I figured they were a scam from day one. You give them all your information, and for a monthly fee, they tell you when someone is trying to rip you off. I figured it to be an ad scam. They let you know someone was trying to steal from you, but they saved you. But since we have your attention, and saved you scads of money, Best Buy is having a sale.