Home Depot Breach Costs Company $179 Million
Posted by: Timothy Weaver on 03/10/2017 02:37 PM
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In 2014, Home Depot was breached with malware on their self-checkout terminals which affected an estimated 50 million customers.
Stolen was email and credit card data. In a settlement, Home Depot has agreed to pay $25 million dollars. Part of the settlement includes tightening cybersecurity and better oversight of its vendors.
"We're pleased to have moved through this phase of resolution," Stephen Holmes, a spokesman for Home Depot, said.
Home Depot has already lost some $134.5 million which it paid in compensation to card brands and financial institutions. It has also agreed to pay affected customers $19.5 million.
Court documents put the cost of the breach at $179 million so far. That figure is expected to rise when factoring in legal fees and other charges.
Source: SCMagazine
Stolen was email and credit card data. In a settlement, Home Depot has agreed to pay $25 million dollars. Part of the settlement includes tightening cybersecurity and better oversight of its vendors. "We're pleased to have moved through this phase of resolution," Stephen Holmes, a spokesman for Home Depot, said.
Home Depot has already lost some $134.5 million which it paid in compensation to card brands and financial institutions. It has also agreed to pay affected customers $19.5 million.
Court documents put the cost of the breach at $179 million so far. That figure is expected to rise when factoring in legal fees and other charges.
Source: SCMagazine
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