January 26, 2022

Volume XII, Number 26

Advertisement
Advertisement

January 26, 2022

Subscribe to Latest Legal News and Analysis

January 25, 2022

Subscribe to Latest Legal News and Analysis

January 24, 2022

Subscribe to Latest Legal News and Analysis
Advertisement

Vast Reach of Security Breach re: Experian Data Breach

Experian’s most recent earnings report shows that it has spent $20 million to date on its response to the September 2015 data breach that exposed the personal information of nearly 15 million wireless carrier customers. The exposed information included names, addresses, birthdates, social security numbers, driver’s license numbers, and passport numbers – all information Experian uses to process credit checks as part of the customer registration process. The $20 million spent so far on notification and credit monitoring for affected individuals may only be just the beginning of Experian’s financial woes – the credit monitoring firm still has several pending class action lawsuits to manage as well as cooperating with the government’s investigations in to the matter.

The Experian data breach is yet another in a long list of information security lapses that have affected tens of millions of individuals in 2015. Similar to other recent high profile breaches, Experian may be liable for tens of millions of dollars, even after insurance payouts, for its role in leaking personally identifiable information to unauthorized third parties. The vastness of breach-related damages, in addition to losing customer and shareholder confidence, underscores the need for companies to be vigilant about being proactive with their information security practices. Information security must be a pillar on which a company operates – it cannot be a secondary or collateral issue.

© Polsinelli PC, Polsinelli LLP in CaliforniaNational Law Review, Volume V, Number 324
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement

About this Author

Joseph D. McClendon, Polsinelli PC, Intellectual property negotiation Lawyer, Inbound Vendor Agreement Attorney
Attorney

Joe McClendon draws upon a rich history of working in IT project management to structure and negotiate technology agreements for Polsinelli’s clients. This background allows him to see things from the client’s perspective and to craft transactions that resolve issues that threaten an organization’s ability to achieve its business goals. Joe has broad experience representing clients in a wide range of matters, including:

  • Drafting and negotiating technology agreements, including master software and services agreements (MSSA), professional...

816.218.1266
Advertisement
Advertisement
Advertisement