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LifeLock Agrees to Pay $100M to Settle FTC Charges

LifeLock agreed to pay a settlement of $100 million after charges by the Federal Trade Commission.

LifeLock agreed to pay a settlement of $100 million after charges by the Federal Trade Commission that the company didn't live up to an order to secure its customers' personal information.

Users pay LifeLock for identity protection, which includes the safe storage of Social Security, credit card and bank account numbers. In 2010, the FTC alleged that LifeLock made false promises as to how securely it stored that information, and ordered the company to upgrade its security and engage in truthful advertising.

On Thursday, the agency announced that LifeLock had agreed to pay a $100 million settlement for allegedly not complying with the 2010 court order.

"The fact that consumers paid Lifelock for help in protecting their sensitive personal information makes the charges in this case particularly troubling," FTC Chairwoman Edith Ramirez said in a statement.

LifeLock did not admit to any wrongdoing. The company said on its website Thursday that the settlement "will enable LifeLock to move forward with a singular focus on protecting our members from threats to their identity."

Related: ID Theft Protector LifeLock Violating Settlement, FTC Alleges

"It’s important to note that the FTC did not allege, or offer any evidence, that LifeLock has ever had its customers’ data stolen," the company said.

The commission voted 3-1 to approve the stipulated final order, with only Commissioner Maureen Ohlhausen voting "no," saying the FTC failed to find "clear and convincing evidence" that LifeLock failed to adequately protect user data.