🧐 ProPicks AI October update is out now! See which stocks made the listPick Stocks with AI

US reaches $31.5 million settlement with T-Mobile over data breaches

Published 09/30/2024, 12:44 PM
Updated 09/30/2024, 04:21 PM
© Reuters. FILE PHOTO: A T-Mobile logo is advertised on a building sign in Los Angeles, California, U.S., May 11, 2017. REUTERS/Mike Blake/File Photo
TMUS
-

By David Shepardson

WASHINGTON (Reuters) -T-Mobile has reached a $31.5 million settlement to resolve a probe by the Federal Communications Commission into significant data breaches over three years that impacted tens of millions of U.S. consumers, the agency said on Monday.

T-Mobile will pay a $15.75 million civil penalty and has agreed to spend another $15.75 million over two years to strengthen its cybersecurity program. The FCC said T-Mobile suffered data breaches in 2021, 2022 and 2023 that impacted millions of current, former or prospective T-Mobile customers.

The 2021 breach alone impacted 76.6 million U.S. consumers while a 2023 breach impacted 37 million, the FCC said.

The FCC said T-Mobile, the nation's third largest wireless carrier with 119.7 million customers, will address "foundational security flaws, work to improve cyber hygiene, and adopt robust modern architectures, like zero trust and phishing-resistant multi-factor authentication."

"Today’s mobile networks are top targets for cybercriminals," said FCC Chairwoman Jessica Rosenworcel. "We will continue to send a strong message to providers entrusted with this delicate information that they need to beef up their systems or there will be consequences."

T-Mobile said Monday it takes "our responsibility to protect our customers’ information very seriously" and added it has "made significant investments in strengthening and advancing our cybersecurity program and will continue to do so."

Earlier this month, the FCC said AT&T (NYSE:T) had agreed to pay $13 million to resolve an investigation over a data breach of a cloud vendor in January 2023 that impacted 8.9 million AT&T wireless customers.

© Reuters. FILE PHOTO: A T-Mobile logo is advertised on a building sign in Los Angeles, California, U.S., May 11, 2017. REUTERS/Mike Blake/File Photo

AT&T disclosed in July a separate massive hacking incident in April that resulted in the illegal downloading of about 109 million customer accounts that is under FCC investigation.

In July, the FCC said Verizon (NYSE:VZ)'s TracFone Wireless agreed to pay $16 million over data breaches and implement reforms.    

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.