Remember those commercials for LifeLock? The ones where the CEO of Lifelock placed his social security number on the side of a van and promised to protect your identity for the loq price of ONLY $10 per month?
AND THEN, that same CEO contracted another firm when his identity was stolen?
Well now, in one of the largest FTC-state coordinated settlements on record, LifeLock and its principals will be barred from making, (sic) ANY MORE, deceptive claims and required to take more stringent measures to safeguard the personal information they collect from customers.
According to the FTC:
The FTC will use the $11 million it receives from the settlements to provide refunds to consumers. It will be sending letters to the current and former customers of LifeLock who may be eligible for refunds under the settlement, along with instructions for applying. Customers do not have to contact the FTC to be eligible for refunds. Up-to-date information about the redress program can be found at this website.
The information stored from customers, wasn’t even encrypted! Sigh…
