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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. That’s 12 more times than has previously been known.
In June 2007, Threat Level reported that Davis had been the victim of identity theft after someone used his identity to obtain a $500 loan from a check-cashing company. Davis discovered the crime only after the company called his wife’s cellphone to recover the unpaid debt.
About four months after that story published, Davis’ identity was stolen again by someone in Albany, Georgia, who opened an AT&T/Cingular wireless account using his Social Security number (.pdf), according to a police report obtained by the New Times. The perpetrator racked up $2,390 in charges on the account, which remained unpaid. Davis, whose real name according to police reports is Richard Todd Davis, only learned a year later that his identity had been stolen again after AT&T handed off the debt to a collection agency and a note appeared on his credit report.
LifeLock refused to discuss the issue with the New Times. The company did not respond to a request for comment from Threat Level.
Then last year, Davis discovered seven more fraudulent accounts on his credit report that were opened with his personal information and have outstanding debt, according to the police report. Someone opened a Verizon account in New York, leaving an unpaid bill of at least $186. An account at Centerpoint Energy, a Texas utility, was delinquent $122. Credit One Bank was owed $573, and Swiss Colony, a gift-basket company, was seeking $312. In addition to these amounts, Davis’s credit report showed five collection agencies were seeking other sums from accounts opened in his name: Bay Area Credit was pursuing $265; Associated Credit Services was seeking two debts in the amount of $207 and $213; Enhanced Recovery Corporation was chasing $250 and $381.
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.
Originally posted by Raist
I use LifeLock, and never had a problem with it.
Well aside from the extra hassle of waiting for them to call me at the only two phone numbers they will call. If I apply for any loan, they have to speak to me at one the two phone numbers that I have given them. If they are unable to speak to me at one of those two numbers I cannot get the loan until they have spoken to me.
It makes me wonder if he really used the system. They send me a monthly credit report from all three agencies and as I said call when a loan is applied for.
I guess unless you have given it a try you cannot know how it works. So again, I wonder if he really was using the system. Why he would not I am unsure unless he could not and they told him they would protect him.