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FTC Sending $31 Million to Lifelock Customers in Privacy Settlement

The Federal Trade Commission says it will be sending checks totaling $31 million to Lifelock costumers per a 2015 settlement. 

In December of 2015, Lifelock agreed to pay $100 million to settle charges it failed to comply with a 2010 federal court order that it secure its customer's online personal information and prohibiting it from deceptive advertising. 

The FTC alleged the company had 1) not established a comprehensive program to protect sensitive personal information, including social security numbers, credit cards and bank accounts; 2) falsely advertised that it did protect that data as securely as a financial institution; 3) falsely advertised it would alert victims ASAP of possible data theft; and 4) failed to do the proper recordkeeping per the 2010 order. 

Of that $100 million, the FTC has already paid out about $68 million to members of a class action suit. The $131 million is going to Lifelock customers who were not part of that class action. 

The money is being sent out in more than a million checks of about $29 apiece. Consumers should cash them within 60 days, it advises.