identity theft protection

In its largest settlement ever obtained through an enforcement action, the Federal Trade Commission (FTC) announced yesterday that it had settled with identity theft protection firm LifeLock for $100 million. The no-fault settlement relates to a 2010 FTC enforcement action against LifeLock in which the FTC alleged that LifeLock misrepresented the effectiveness of its products

The IRS announced last week that the value of identity theft protection services are not taxable and do not have to be included in gross income calculations for tax purposes.

Identity theft continues to be the number one consumer complaint to the Federal Trade Commission each year, and with the increases in data breaches, this