T-Mobile to pay $350 Million to settle Lawsuit for Customer Data Leak

by Riversafe

T-Mobile have settled a class action lawsuit for Customer Data Leak, agreeing to pay $350 million.

It’s alleged that more than 75 million people were affected in the breach.

According to court documents, the aftermath of the attack resulted in victims suffering from identity theft and fraud, with unauthorised credit and account applications filed in their names.

The data breach took place in 2021, with hackers claiming to have the information of 100 million of their customers.

The data reportedly consisted of phone numbers, names, addresses, IMEI numbers, and driving licences.

In a Securities and Exchange Commission filing, the mobile phone company said the funds would pay for claims by class members, the legal fees of plaintiffs’ counsel and the costs of administering the settlement following a class-action lawsuit.

T-Mobile also said it would spend 150 million dollars (£125 million) next year and in 2023 to safeguard its data security and other technologies.

This incident reminds us that in an evolving cyber landscape, businesses need to do everything they can to reinforce their digital defences. Threats are always changing, with new ones emerging every day. There is a constant need to re-evaluate your methods and adapt to malicious behaviour. The dynamic nature of modern digital activity makes it inherently challenging to keep up with your cyber security practices, which can leave businesses feeling like they are always on the back-foot when it comes to staying secure.

How can your business implement prevention practices?

Implementing a high-quality cyber security solution and cyber security practices is essential. Sophisticated solutions delivered by experts, like Splunk, Exabeam, Cribil  act as your best line of defence against attacks, allowing businesses to be proactive, rather than reactive. Modern tools – such as User and Entity Behaviour Analytics (UEBA)– are particularly designed to help identify and mitigate insider threats attacks in advance.

The next approach any business can take to strengthen their prevention practices is to continually monitor and evaluate their current cyber architecture. To prevent the generation of gaps in your security you should ensure that your cyber security strategy is properly managed and updated.

Often a simple human error, such as not following best practices or not deploying your tool in the most suitable way for your environment, can be the reason vulnerabilities appear. Ultimately, any cyber security tool can only take you so far – achieving the full benefit of your solutions requires organisations to use and maintain their tools properly.

Businesses should therefore consistently monitor and check the quality of their tools, processes, and configurations to ensure everything is working at optimum levels. This not only means organisations can check how their tools are performing, but also provides the opportunity to fix weaknesses and prevent possible attacks.

With a potential cyber-attack occurring every 39 seconds today, it’s now more important than ever to evaluate your cybersecurity systems and alleviate any potential points of entry for threats – from malicious internals to any possible breaches.

Why RiverSafe?

Our Professional Services consultants are dedicated to helping you optimise your Cyber Security, giving you the tools you need to continue to enjoy the highest quality of performance.

Our expert team can review and audit your enterprise, implementing tangible benefits to your business.

Get in touch with one of our consultants today to get more information or book a service.

Riversafe

By Riversafe

Cyber Security Intelligence Experts