Yahoo has reached a revised $117.5 million (89.8 million pounds) settlement with millions of people whose email addresses and other personal information were stolen in the largest data breach in history.
Verizon's plan to spend $300M on #cybersecurity is 5X what Yahoo had previously spent during the #breach years 🙈
And they're pledging to quadruple Yahoo's #infosec staff. 👍😊
— Amanda Walker (@AmandaSueWalker) April 10, 2019
Ilia Kolochenko, CEO at High-Tech Bridge:
“On average that is 25 dollars per compromised account, an embarrassingly modest compensation for breach of your privacy and stolen personal data. However, it’s pretty widespread for class actions that usually enrich the attorneys, not the victims. Otherwise, the settlement conveys an illusory message of relatively modest penalties for negligent data protection. In 2019, even a less severe breach is capable of exposing your company to incomparably severe and harsh sanctions in different jurisdictions. We have to take cybersecurity seriously or pay a considerable price.”