Anti-ID theft firm to pay $12 million to settle false claims case | The Portland Press Herald / Maine Sunday Telegram

Anti-ID theft firm to pay $12 million to settle false claims case | The Portland Press Herald / Maine Sunday Telegram.

NEW YORK – LifeLock Inc. – an identity theft protection company that backed its guarantees by putting its CEO’s Social Security number on the side of its trucks – will pay $12 million to settle claims it misrepresented its services, according to the Federal Trade Commission.

LifeLock will pay $11 million to the FTC to cover the cost of customer refunds, and another $1 million to the attorneys general of 35 states, including Maine, the agency said. The FTC said LifeLock made false claims about its ability to prevent identity theft, as the services provide no protection against misuse of existing accounts, which is the most common type of identity theft, or medical or employment identity theft.

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