The data breach first came to light when a Twitter user started posting about the details of the leaked information. In a statement released on the same day, T-Mobile confirmed “unauthorized access” to their data, but had yet to determine if any personal customer data was involved. CNN Sans ™ & © 2016 Cable News Network.On August 16, telecommunications giant T-Mobile announced it was investigating a breach that allegedly exposed sensitive data from millions of T-Mobile customers in the United States. Market holidays and trading hours provided by Copp Clark Limited. All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC and/or its affiliates. Standard & Poor’s and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Chicago Mercantile: Certain market data is the property of Chicago Mercantile Exchange Inc. US market indices are shown in real time, except for the S&P 500 which is refreshed every two minutes. Your CNN account Log in to your CNN account T-Mobile expects the settlement to be approved in December at the earliest, according to a Securities and Exchange Commission filing, though it cautioned that appeals or other proceedings could result in delays. The company added it has created a “cybersecurity transformation office” reporting to CEO Mike Sievert and hired cybersecurity firm Mandiant as well as consulting firms Accenture and KPMG “to design strategies and execute plans” to improve its cybersecurity posture. Our efforts to guard against them continue and over the past year we have doubled down on our extensive cybersecurity program.” “Like every company, we are not immune to these criminal attacks. “Customers are first in everything we do and protecting their information is a top priority,” T-Mobile said in a statement on its website Friday. If approved, T-Mobile’s $350 million will go into a fund covering payments to class members, as well as legal and administrative fees. The company began investigating the breach in August 2021 after Vice reported claims made on an underground online forum offering T-Mobile customer data for sale. During its initial disclosures surrounding the breach, T-Mobile had said it believed a hacker had stolen information on about 53 million current, former or prospective customers. More than 76 million US residents affected by the breach will be part of the proposed class, according to a court filing accompanying the settlement agreement. Court documents outlining the proposed agreement were filed in the US District Court for the Western District of Missouri. In the proposed settlement announced Friday, T-Mobile also agreed to spend an extra $150 million on cybersecurity through the end of 2023. T-Mobile has agreed to pay $350 million to settle multiple class-action suits stemming from a data breach disclosed last year affecting tens of millions of people.
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