Anthem will pay $115 million in largest data breach settlement in history

[Jim K Global Moderator]

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Anthem Inc. agreed to pay $115 million in a deal to end a court battle over the 2015 data breach where hackers gained access to sensitive records for nearly 80 million Americans. The funds will go toward credit monitoring and reimbursement for customers, in addition to as much as $38 million in attorneys’ fees.

 

The 2015 breach saw hackers access records including Social Security numbers, birthdays, addresses, detailed employment information and income data. Chinese state-sponsored attackers were suspected in the attack but there has been no official attribution.

 

The settlement requires Anthem to guarantee “a certain level of funding for information security and to implement or maintain numerous specific changes to its data security systems, including encryption of certain information and archiving sensitive data with strict access controls,” according to a statement by the plaintiffs’ attorneys. “The settlement is designed to protect class members from future risk, provide compensation, and ensure best cybersecurity practices to deter against future data breaches.”

 

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Full article at Cyberscoop

 

Wonder what the payout to the customers will be ... 

 

 

 

Edit:  oh.  

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The money will be used to pay for two years of credit monitoring for people affected by the hack, the lawyers said. Victims are believed to include current and former customers of Anthem and of other insurers affiliated with Anthem through the national Blue Cross Blue Shield Association.

 

People who are already enrolled in credit monitoring may choose to receive cash instead, which may be up to $50 per person, according to a motion filed in California federal court Friday.

NBC News