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VLP Partner Melissa Krasnow Quoted in Bloomberg Law Article “Home Depot Agrees to Pay $17.5 Million in Breach Settlement (2)”

Posted on Nov 25, 2020 in Privacy, News by Melissa Krasnow

VLP Partner Melissa Krasnow was quoted in the Bloomberg Law article titled “Home Depot Agrees to Pay $17.5 Million in Breach Settlement (2)”.

The article discusses The Home Depot’s settlement with the attorneys general of 46 states and the District of Columbia regarding a data breach it suffered in 2014, including agreeing to pay $17.5 million.

According to Ms. Krasnow, “The settlement amount is comparable to what Target Corp. agreed to pay in 2017 [following its breach].” Target agreed to pay $18.5 million to settle allegations after it suffered a payment card information breach during the 2013 winter holiday shopping season.

The Home Depot agreed to provide security and privacy training to workers with access to the company’s network, undergo a post-settlement information security assessment, employ two-factor authentication and risk assessments and hire a chief information security officer.

According to Ms. Krasnow, “Those measures go beyond remedying the flaws exploited in the point-of-sale attack and will help the retailer fend off other sorts of cyber threats….These security safeguards like two-factor authentication and encryption are good practices….Security awareness training for employees is important to minimize risk associated with phishing and ransomware attacks.”

Click here to read the entire article.