LifeLock identity theft service a game changer, insists embattled CEO
Todd Davis defends his company, following reports that he was a victim of ID theft 13 times
Computerworld - As CEO of LifeLock Inc., Todd Davis has been in the news lately for all the wrong reasons. Two months ago, the Federal Trade Commission slammed his company with a $12 million fine for deceptive advertising practices.
Attorneys general from several states have called his company's identity theft protection services a scam. And this week, the Phoenix New Times reported that Davis had been a victim of identity theft at least 13 times, even while he has been busy pitching the effectiveness of his company's identity protection services.
In this interview, Davis, who is famous for publicly posting his Social Security number on billboards and TV commercials to promote LifeLock, vigorously defends his company and himself. Far from being a scam, Davis insists, LifeLock has been a game-changer that has shaken things up in an industry once tightly controlled by the three major credit reporting bureaus.
People are wondering how the CEO of a company which sells identity theft protection services could himself be the victim of identity theft 13 times. What would you say to them? Here are the facts. We have always said that no one can completely stop identity theft, including LifeLock. We have said on our Web site since inception that there's no lock that can't be picked if you were to spend enough time or money. But by going out there and putting ourselves and me, specifically, out there with a bullhorn giving out my Social Security number, we got people talking.
We affected a massive change in the industry. Hell, we created the industry. Before, the best service you could get was credit monitoring that you could buy from a credit bureau that sells you a copy of your data that they sell to other people. Now, because of LifeLock, because we've stirred the debate, we've made the bureaus change their offerings, we made competitors elevate their game for the first time ever. We knew when we started this process that I was going to have issues that would have to be resolved and remediated. We never tried to make the claim nothing would ever happen to me.
What new industry did LifeLock create, exactly? I truly mean identity theft protection. I mean proactive services that attempt to mitigate the risk of identity theft before it happens. Not like credit bureaus which sell your data to you and to anybody else who is qualified to buy it. We were the first ones who actually began to put up a front line of defense to lessen the chance of identity theft.
- Transforming Information Security: Future-Proofing Processes This report provides a valuable set of recommendations from 19 of the world'd leading security officers to help organizations build security strategies for...
- The Evolution of Corporate Cyberthreats Cybercriminals are creating and deploying new threats every day that are more destructive than ever before. While you may have more people devoted...
- 3 Questions to Ask Your DNS Host about Lowering DDoS Risks Neustar has had wide-ranging conversations with clients wanting to know how they can optimize protection as DDoS attacks increase in frequency and size.
- The Danger Deepens: 2014 Neustar Annual DDoS Attacks and Impact Report This report compares DDoS findings from 2013 to 2012, based on a survey of 440 North American companies, including 139 businesses delivering technology...
- Establish Cyber Resiliency: Developing a Continuous Response Architecture Many enterprises fail to proactively prepare the battlefield for a data breach by only leveraging outdated techniques that focus on the perimeter or...
- An Incident Response Playbook: From Monitoring to Operations As cyber-attacks grow more sophisticated, many organizations are investing more into incident detection and response capabilities. In this webcast, learn how to develop... All Cybercrime and Hacking White Papers | Webcasts