You’ve probably seen the ads. “My name is Todd Davis. This is my Social Security Number…” It’s from the CEO of LifeLock, a company that offers “identity theft protection”. The service must be pretty darn good if the CEO is announcing his Social Security Number to the world, with a “just try to steal my identity” arrogance.
Well, you’d be wrong.
According to a recent Wired.com article:
LifeLock CEO Todd Davis, whose number is displayed in the company’s ubiquitous advertisements, has by now learned that lesson. He’s been a victim of identity theft at least 13 times, according to the Phoenix New Times.
The article also goes on to point out:
The company was fined $12 million in March by the Federal Trade Commission for deceptive advertising.
Lifelock promised in ads that its $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 after signing up for the service. The FTC called the claims bogus and accused LifeLock of operating a scam.
So, what does this mean to you? Pretty much what we’ve been saying all along about identity theft, spyware, viruses, and so on… Educate yourself. Do your homework. If a service comes with a “$1 million guarantee”, read the fine print.
If the company can’t even protect it’s own CEO’s identity, what does that say about the service you would be getting?