If you're a Target customer - this news may fill your pockets a bit. The company is set to pay millions of dollars as part of a settlement over a massive 2013 data breach. The company says it will shell out 18-point-five-million dollars as part of a settlement that compromised credit and debit card information for tens of millions of customers.
As part of the settlement, Target is required to implement a "comprehensive information security program." And the New York Attorney General's office says the retailer is also required to hire an independent third party to perform a comprehensive security assessment. Target is also required to add measures, such as encrypting payment card information so the data becomes useless if stolen.
For their part, California is receiving one-point-four-million dollars from the settlement. It's the largest amount for any state. California Attorney General Xavier Becerra says the money will be used to enforce consumer protection laws. Outside of state payouts, consumers can collect up to $10,000 if they can show evidence of suffering losses from the data breach.
Source: USA Today