Identity Theft Protection

Posts Tagged ‘lifelock complaints’

Yet more trouble for Lifelock as several consumers filed lawsuits against the Tempe based identity theft protection company.

Attorneys want class-action status for lawsuits which say the Lifelock advertising is misleading and even lies about the service Lifelock offers.

Gerald Marks, an attorney in Red Bank, N.J., who is representing the plaintiffs said:

“The advertising is deceptive because it makes you think you are buying an insurance policy, you think that you’re totally protected. That is not the case.”

Not suprisingly, the CEO of Lifelock , Todd Davis (pictured above) claims the lawsuits are unfounded and the company stand by their advertising where he gives out his Social Security number on the grounds that he is protected by Lifelock so his details are of no use to anyone.

Anyone that is apart from the guy who watched the advert and then used that social security number to take out a payday loan in the name of Todd Davis.

The lawsuits are now starting to stack up for Lifelock but as they approach their 1 millionth sign up I’m guessing they can afford the odd court case.

For a fee of around $10 a month for presumably the rest of your life, Lifelock remove the customers name from mail lists and enroll them in the fraud alert system offered free by the 3 credit bureaus. Experian (one of the 3 bureaus) is suing Lifelock because it claims Lifelock is abusing the fraud alert system and wants the practice stopped. This court case is potentially huge for Lifelock as their entire business model is based around the fraud alert.

Lifelock are also being sued by an Arizona customer over their guarantee which its claimed is misleading. The small print says Lifelock will pay for any losses resulting from an identity theft up to the amount of $1 million, it is not a $1 million guarantee.

With some common sense (such as NOT showing your social security number on TV) and a couple of phone calls you can do everything that Lifelock does without the $120 a year price tag and if its their guarantee that’s tempting you, simply take out some insurance, its cheaper!