Deemed to not be meeting data security compliance standards, the CEO of Wallet app LifeLock has deleted all data stored by current users.
In a blog post, LifeLock chairman and CEO Todd Davis, said that it has determined that certain aspects of its mobile app may not be fully compliant with payment card industry (PCI) security standards, and it was removing it from the App Store, Amazon Apps, and Google Play, and when users open the LifeLock Wallet, their information will be deleted in the app.
He said: “We have taken steps to delete all stored information for the mobile app from our servers. Even though we have no reason to believe the data has been compromised, we believe this is the right thing to do.
“As a company dedicated to online security and safety, we are committed to doing everything we can to ensure those who trust us with their personal information can do so without question.
“We believe the LifeLock Wallet provides services and functionality that users value, and we’ll be working to return a Wallet with the highest level of PCI compliance to users soon.”
Davis apologised for the action and inconvenience, and said that when it is available again, users will be able to download it and use it again with confidence.
The Wallet app was introduced by LifeLock in 2013 following the $42 million acquisition of mobile wallet innovator Lemon in late 2013.
In 2010, Wired reported that LifeLock was fined $12 million against by the Federal Trade Commission for deceptive business practices and for failing to secure sensitive customer data.