The Federal Trade Commission, in its advancing campaign against scams and misleading marketing with regards to credit reporting, credit scores and Identity Theft Protection, recently announced it had coordinated a settlement with LifeLock for misleading claims about its Identity Theft Protection services.
“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.
LifeLock agreed to pay $12 Million to settle charges by the FTC and 35 States that Identity Theft Prevention and data security claims were false.
“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.”
More information about the settelment and about LifeLock’s false claims on the Federal Trade Commission website.