LifeLock identity theft service a game changer, insists embattled CEO
You talked about the 13 times that we have remediated some kind of issue with me and my identity. [People] have tried hundreds and hundreds of times to steal my identity. The front line of defense works dramatically better than me just waiting for someone to send me a copy of my credit report after I've been a victim. We've made consumers ask for the first time, "What can you do to stop it before it happens?"
Some have accused you of being overly enthusiastic in your claims about your service. The FTC hit LifeLock with a $12 million fine two months ago for deceptive advertising. What's going on? I am passionate about what we do. [The FTC] didn't like our choice of words ... so they wanted more clarity. For over a year they have been absolutely fine with the way we market our service and what we provide. The fine has to do with historical ways we advertised, not for anything we have done for over a year or for anything we do today.
By the way, one thing you'll notice in all these stories is, where are the ticked-off consumers? If we overinflate what we do, where are all the ticked-off consumers? Because I promise you, New Times doesn't like us.
Are you are telling me that out of the 1.7 million customers we have, they couldn't find one to go and interview that said "I hate these guys"? That "they are a scam and did not provide the service they were supposed to"? You are kidding me, right? You know they wanted to find that person who'd say we are bad and evil.
All you ever hear in any of these stories is that [our advertising] could have been misunderstood. OK, then, where did we do it? Then show me the evidence that we did it. I didn't break the law by giving out my Social Security number, but [the FTC] felt like it could have motivated other people to do it. I didn't see anybody else using a bullhorn or driving around a billboard truck giving out their Social Security number.
But hasn't LifeLock claimed that its service protects consumers from ID theft from "ever happening" to them, guaranteed? Just because we say protect, we aren't saying prevent. We have always provided two layers of protection -- proactive and resolution -- [which is] our service guarantee to help fix problems if they were to arise. This has been our stance since the beginning, and our many members feel the peace of mind that comes from the service guarantee is as valuable as anything we offer.
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