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Digital Identity, Security & Online Fraud

Home Depot settles for USD 25 mln fines in 2014 data breach

Tuesday 14 March 2017 | 10:04 AM CET

Retailer Home Depot has agreed to pay off a settlement of USD 25 million for damages following a massive breach in 2014.

Furthermore, under terms of the agreement, the retailer must also improve its cybersecurity implementations, including tighter oversight of its vendors. The incursion in 2014 exposed personal information of more than 50 million customers. Hackers managed to infiltrate the chain store's self check-out terminals to steal email and credit card data.

Home Depot has already paid USD 134.5 million compensations to card brands and financial institutions. In 2016 the retailer has also agreed to compensate affected customers to the tune of USD 19.5 million.

According to SC Magazine, the cost of the breach is currently running around USD 179 million, based on figures in court documents, Fortune reported. However, that figure is expected to rise considerably factoring in legal fees and other charges, the online publication continues.

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