His SSN is 457-55-5467.
And he's making millions!
Lifelock is that company where the CEO posted his Social Security Number with a challenge to take his identity (which someone promptly did). If you've been considering getting the service, wait. First realize what you're paying for.
If you were to go to their site and read through what they actually do, you'll find that you're not getting much for your money.
NOTE! This is for the original version of Lifelock. Due to legal settlements, they've changed their service somewhat and details are below.
They place fraud alerts. The problem is,as far as protecting you from ID theft.
They renew the fraud alerts every 90 days. Note that this isn't actually a separate benefit, but they sure seemed to want to have six benefits to their service instead of just five.
They remove your name from pre-screened credit card offers. You can do it yourself, freely, and quickly at optoutprescreen.com. Also note that this is a one-time benefit and not something that you should be paying monthly for.
They order your credit reports once per year which is easy for them because they can use the free annual credit report you are due by law. The bad part here is that if you wanted to use the very clever advice of getting your report from one of the companies every four months so you can keep a semi-constant tab on your credit, you can't. Lifelock blew your free coupons all at once.
They'll keep a list of the companies you have credit cards and such with so you can quickly call them if your wallet is stolen. The FDIC has a great guide about how to do this yourself including the advice to carry a bare-minimum of cards and information and to make your own call-down list.
Lastly, insurance (which some people claim you can't collect on).
Worst of all, the "fraud alert" features (1 and 2) that they provide have been blocked as a result of a recent lawsuit by Experian who claimed that Lifelock was abusing the fraud alert system by placing them for EVERYONE instead of just people who feel in imminent danger of ID theft.
Because of the lawsuit, they had to pull the fraud alert "feature" from their list of services. Along with some other recent changes I didn't update on, here is the complete list of Lifelock "features" as of Sept '09:
LifeLock Identity Alert™ – In theory they somehow monitor whenever a credit application is entered and alert you. Isn't this what credit-monitoring services do?
eRecon™ – They claim to monitor known criminal websites for your personal information. If they find it, they alert you and help you remove it.
My BS-meter is blinking for two reasons. First, what known criminal websites are out there that Lifelock can get to more than anyone else? If they're public websites, a google-alert would work just as well (and it's free). If they're NOT public websites, how did Lifelock get access to them? Do they have criminal connections?
Second, if they're known criminal websites, why haven't they been taken down? What's lifelock going to do to "resolve the problem" that the police couldn't do?
TrueAddress™ – Monitors change of address databases and alerts you if someone tries to change yours. I don't know how well this works or even if it works as described, but if it does, this might be the first real service that Lifelock provides that isn't easy and free to do yourself.
WalletLock™ – Already described this
Credit card offer opt-out – Already described this
Request your annual free credit reports – Already described this
24 Hour Phone Number – As it should be.
$1 Million Guarantee – Sort of. Read on…
In a different class action lawsuit, the lawyers argue that despite the "1 million dollar guarantee", it's actually almost impossible to collect. The guarantee only comes into action if you can show a "defect in their service", but…
Lifelock also had multiple lawsuits brought by the FTC for their deceptive advertising and other BS. They first settled for $11 million in 2010, and then $100 million in 2015 for violating the terms of the first settlement. Will they ever straighten out and behave? It's hard to say, but it's also hard to imagine.
If you're tired of the crap and lies and want solid information and risk management information that will tangibly improve your defense against ID Theft, check out my Goodbye Identity Theft online course!