LifeLock Will Pay $12 Million to Settle Charges
This guy should be the poster child for anyone who thinks they have a security solution for the Internet. Unless you’ve been doing this for years and have a broad perspective, you might be confident enough to think your solution “tightens everything up” when in fact all you’ve done is “move things around a little bit”. Security is not like functionality – but this guy was so sure they offered a “guarantee” and put his infos up on billboards and in commercials. Suddenly, the genius is the fool.
LifeLock, Inc. has agreed to 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.
In one of the largest FTC-state coordinated settlements on record, LifeLock and its principals will be barred from making deceptive claims and required to take more stringent measures to safeguard the personal information they collect from customers.
“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.
Leave a Reply
You must be logged in to post a comment.
