LifeLock, the identity theft protection company, has agreed to pay $100 million to settle charges that it failed to properly secure its customers’ information and misrepresented the strength of its security, the Federal Trade Commission announced yesterday, according to the Washington Post. Under the terms of yesterday’s settlement, the company will pay a portion of its fee — $68 million — to pay back consumers who sued the company in a class action suit, who made similar complaints about the company's services. LifeLock had previously settled with the FTC and 35 state attorneys general in 2010, paying $12 million for not securing customer information and for making "false claims." At the time, it signed an agreement saying it would change its behavior in the future. This July, the FTC announced it would file a complaint against the company for violating that order. According to the FTC, LifeLock violated several terms of its previous agreement. First, the agency said, its security system was not up to the task of protecting users' sensitive personal information, including Social Security numbers, credit card information and bank account numbers. Second, the complaint said that LifeLock falsely advertised that its systems were protected using the same technology as financial institutions.
