FTC Fines LifeLock $12 Million for Deceptive ID Theft Prevention Claims
The Federal Trade Commission (FTC) fined LifeLock, a prominent ID theft protection company, $12 million for deceiving customers regarding the effectiveness of its service. The FTC fined the company $11 million and an additional $1 million for state cost of investigating the company. The $11 million will go to customers who file reimbursement claims against the settlement. Last year the Consumer Federation of American published a report on identity theft prevention services, which raised questions about their effectiveness.
LifeLock settles false advertising action for $11M, Tampa Bay Business Journal, March 10, 2010
