LifeLock CEO Todd Davis addressed rumors and criticisms of its service at a meeting of the virtual town hall held this morning. The long session of questions and answers time was led by Kevin McCabe veteran news man and included over 500 hundred participants registered across the country.
Dozens of questions on a wide range of topics, including the status of the ongoing trials against LifeLock own brush with Davis and identity theft, were invited by the participants and answered open and transparent manner by Davis. Below is a summary of the main topics throughout the town hall meeting.
The LifeLock Service
Davis began the meeting with a summary of the services that LifeLock provides its subscribers in response to a question from participants. According to Davis, LifeLock will be
- fraud alerts defined for each subscriber with all three major credit bureaus, including Experian, Equifax and TransUnion. LifeLock also renew these fraud alerts every ninety days to maturity.
- Scrub names of subscribers of the Direct Marketing Association (DMA) mailing lists (what Davis called "Junk List") and prevent them from receiving most pre-approved offers of credit excluding those sent by financial institutions that already individual has a relationship with. Davis pointed out that although some people see remittances as a nuisance, LifeLock see them as "vulnerable points" for identity thieves in search of potential victims
-. Watch thousands of "black market sites" on the Internet where criminals buy and sell stolen personal information such as social security numbers, credit card information and other sensitive data with their service eRecon
. - Authenticate any change of address requests with the United States Postal Service (USPS) using LifeLock TrueAddress function
.- Replace any stolen identification, credit cards, insurance cards, Social Security cards or other similar documents if a subscriber portfolio or handbag as part of their program WalletLock
.Davis also discussed their services for children who are slightly different from those of adults. Child benefit LifeLock include monitoring of the three credit bureaus and file the social security administration to ensure that no fraudulent recordings created with there personal information . Like most children should not have a credit history or employment history, positive results are likely signs of potential identity theft.
Davis was extremely frank with the fact that LifeLock is not a magic bullet to prevent all forms of identity theft, but a step that consumers can take to greatly reduce the risk of being a victim . "We can not stop all identity theft, but we can build a great first line of defense," Davis said.
Davis also pointed out that more than one million LifeLock subscribers assets, only 127, or about 0.01%, were victims of identity theft compared to about 2.6% all Americans are victims of crime each year, according to the FTC. "I guess I can let it stand on its own merits," he said.
The Million Dollar Guarantee LifeLock Total Service
The LifeLock guarantee millions of dollars in services, specifically that and would not cover, has been the subject many questions from participants that followed. If, unfortunately, is a subscriber identity theft victim LifeLock "will do everything the law allows us to do to make your life better," said Davis.
When asked whether the covered LifeLock guarantee such things as medical related insurance fraud, Davis echoed his earlier statement that the service can not prevent all forms identity theft. "But we will be there to help clean it up," he said.
For more information on the specifics of LifeLock million total service guarantee Please read our coverage and the previous analysis.
Run-in with Todd Davis identity theft
Davis was very frank with the details of his own identity theft brush ago nearly two years. only a criminal identified as Daniel Fort Worth, TX Davis used the Social Security number, which is visible in advertising campaigns of LifeLock, fraudulently obtain a loan the $ 500 pay day.
Davis explained that since payday loan service does not pull a credit report that fraudulent activity has not been taken by fraud alerts with LifeLock. However, Davis said that "the service worked exactly as it should." When Davis realized he had suffered, he contacted the recovery specialists LifeLock who recovered her identity successfully. The author was finally captured and accused of the crime by the local authorities.
regarding the rumor other identity theft crimes perpetrated against him, Davis was very clear that the incident Fort Worth is the only one he knew. He specifically addressed the rumor that dozens of driving licenses were issued in his name. "I saw no evidence of driving license in my name being issued to other states, "he said.
Respond to lawsuits against LifeLock
When presented with several issues related to the series of lawsuits pending against the company, Davis encouraged the audience to form their own opinions rather than simply believe the headlines in the news or press releases. Davis continued to share the fact that currently there are class action lawsuits pending in seven states that comprised about nine people. All participants in these class actions against LifeLock are still active members of the service and none of them reported being victims of identity theft, according to Davis.
"Look at the facts," he said. "Dig and look at the details."
LifeLock CEO also discussed the status of the complaint against the company Experian. One of the main claims of this lawsuit is that LifeLock is illegally put fraud alerts on behalf of consumers with the three credit bureaus, including Experian. Davis said that LifeLock is comfortable with their legal position and works in the spirit of the laws that allow consumers to set fraud alerts. Davis conceded that "guys like Experian do not like what we do," but also said he welcomes the opportunity to work with Experian to fight against identity theft and work together in the best interests of consumers
Other subjects
-. Davis said the basis of LifeLock subscribers to over one million continues to grow at a pace . thousands of new subscribers per week "We have set new records for almost daily subscribers," said Davis
-. Davis is very happy with their current association with NASCAR and plans to have a continuous presence in motorsports He mentioned that LifeLock was recently designated sponsor of Michigan 400 and sponsor the LifeLock.com 400 in July
-.. when asked whether he would continue to be the face of the advertising campaign for LifeLock, Davis eluded the fact that the company will continue to develop campaigns while leveraging their current success. For example, he emphasized that it was probably "the most famous social security number in the world", so it would probably continue to be a part of their marketing efforts. He admitted that widespread publicity the company even got to him sometimes. "I listen to satellite radio and even I am sick of hearing me," he said.
We welcome Todd davis LifeLock and to have the courage to answer his critics and consumers involved in such a transparent forum. Davis said he will probably schedule more meetings in the town hall in the future to maintain an open line of communication with consumers. "We want to know the facts out there about LifeLock, "he said.