Earlier this year, Yahoo agreed to pay a $35 million fine for not disclosing one of the world’s largest data breaches. The breach, which occurred in December 2014, involved Russian criminal hackers stealing usernames, email addresses, phone numbers, birthdates, encrypted passwords, and security questions and answers. Hundreds of millions of users were affected. Yahoo’s information security team was informed of the breach within days of the intrusion. However, it wasn’t until 2016 that it disclosed this information during the acquisition of its operations by Verizon Communications Inc.
Recently, Yahoo agreed to pay a $50 million settlement to those affected by either 2013 or 2014 breaches.
- Account holders who suffered a loss (identity theft or delayed tax refunds) can claim a portion of the settlement.
- Account holders who were victims of the breach can be compensated at $25 per hour spent dealing with the losses. $375 is the maximum they can claim.
- All account holders affected get free credit monitoring services for two years from AllClear.
- Premium account holders can also get a 25% refund of their paid subscription fee.
Significant data breaches
In recent years, the number of significant data breaches has risen exponentially. From universities to tech giants, no organization is immune.
You can discover how to prepare for a data breach by visiting our #BreachReady page. We break the process down into six simple steps and recommend tools and services you can use to complete each task.