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