Target Poised to Pay $10M to Data Breach Victims in Proposed Settlement

Steve Tellier reports:

Court documents indicate Target has reached a possible settlement agreement in the massive credit card data breach in 2013.

According to the documents, Target has agreed to put $10 million toward a settlement fund, with individuals who can prove they suffered financial harm as a result of the breach splitting that pot of money. Victims are eligible to receive a maximum of $10,000 each, if they are able to provide documentation of their financial losses.

[…]

The settlement would also require Target to designate a “chief information security officer,” “maintain a written information security program,” “maintain a process to monitor for information security events and respond to such events determined to present a threat,” and “provide security training to Target employees.”

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