LifeLock CEO Victim of Identity Theft 13 Times
A CEO who publicly posted his Social Security number on billboards and in TV commercials as part of a campaign to promote his company's credit monitoring services has been the victim of identity theft at least 13 times, a news report says.
The Phoenix New Times reported that Todd Davis, CEO of LifeLock Inc., which is based in Tempe, Arizona, has been victimized numerous times by identity thieves who used his Social Security number to commit various types of fraud.
Davis previously admitted that he was the victim of an identity theft once in 2007, when a man in Texas used his Social Security number to take out a $500 loan that wasn't repaid and ended up being handled by a collection agency.
The Phoenix New Times reported that Davis has been a victim of ID theft on at least a dozen other occasions.
One example cited in the report involved an identity thief in Albany, Georgia, who opened an AT&T wireless account in Davis's name and used it to rack up more than $2300 in charges.
In another instance, an individual used Davis's identity to open an account with Centerpoint Energy, a Texas utility, and subsequently left behind $122 in unpaid bills, the report said.
The report also cited cases where individuals who had stolen Davis's identity owed more than $573 to a bank and $312 to a gift-basket company.
The numerous incidents belie LifeLock's claims that the services it offers protect consumers against ID theft and fraud, the report noted.
Davis said by e-mail that there had been "hundreds" of attempts to use his personal information in a fraudulent manner since 2005. All but 13 of those attempts were unsuccessful, Davis said.
"In each of these cases, our member services team performed the same service that it would for any LifeLock member," Davis said, adding that he had never lost money as a result of the attempted thefts.
"I was saved many of hours of invaluable time and my credit report has been corrected," Davis said.
He said that some of the successful attempts were "not true identity thefts," but rather involved "false entries on my credit file to people with similar names but different addresses--clearly, not me."
The other instances demonstrate precisely why LifeLock has recently launched an alerting service that looks at credit bureau fraud alerts and other information to determine whether an individual's identity information is being improperly used, Davis said.
"Indeed, in just the last eight months we have provided more than 310,000 alerts to our members [using LifeLock s new Identity Alert service]," Davis said.
The Phoenix New Times story comes just two months after the FTC came down hard on LifeLock for deceptive advertising, fining the company $12 million for deceptive advertising.
LifeLock offers consumers a range of monitoring and alerting services that it claims help protect them against theft and fraud.
For $10 a month LifeLock offers to remove the names of customers from junk-mail lists; monitor the Web for fraudulent use of a consumer's name, Social Security number, or other personal information; alert them to potential breaches of their personal data, and provide other other services.
The company guarantees protection against ID theft and even says that it is willing to spend up to $1 million to help subscribers who become victims of identity theft while signed up for the LifeLock service. Such claims have helped the company acquire close to 1 million customers since launching in 2005.
In announcing the fine against LifeLock in March, the FTC noted that while the company's subscription service provided some benefits, the promised protection was beyond the company's ability to deliver.
Jaikumar Vijayan covers data security and privacy issues, financial services security and e-voting for Computerworld. Follow Jaikumar on Twitter at @jaivijayan or subscribe to Jaikumar's RSS feed. His e-mail address is email@example.com.
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