The behaviour of the 3D axial next-nearest-neighbor Ising model at the uniaxial Lifshitz point is studied using Monte Carlo techniques. A new variant of the Wolff cluster algorithm permits the analysis of systems far larger than in previous studies. The Lifshitz point critical exponents are alpha = 0.18(2), beta = 0.238(5), and gamma = 1.36(3). Data for the spin-spin correlation function are shown to be consistent with the explicit scaling function derived from the assumption of local scale invariance, which is a generalization of conformal invariance to the anisotropic scaling at the Lifshitz point.