
Lifelock Dinged $12 Million for Deceptive Business Practices

The CEO of Lifelock, Todd Davis, became famous for advertising his Social Security number on television ads and billboards promising his $10 monthly service would protect consumers from identity theft. The company also offered a $1 million guarantee to compensate customers for losses incurred if they became a victim of identity theft after signing up for the service. But the Federal Trade Commission said Tuesday that the claims were bogus (.pdf) and accused Lifelock, based in Arizona, of operating a scam and con operation. The commission announced, along with 35 state attorneys general, that it had levied a fine of $12 million against the company for deceptive business practices and for failing …
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