Lessons in Compliance
7 Jul 2017
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With the recent announcement of Target reaching a settlement agreement with the State Attorneys Department in 47 States, many in industries that are reliant on information technology are reconsidering the importance of compliance. In total Target has agreed to pay $ 18,5 million to settle rather than waiting to hear what would happen if it went to court. Not only does Target have to pay the aforementioned agreed upon amount mentioned above; they must also implement a far more robust information security program. Even though Target is a large multi-national this fine cannot be deemed a drop in the ocean as it is not only the fine but the further cost of improving their information security systems. This settlement comes only months after Home Depot agreed on a settlement amount of $ 25 million for a data breach which affected numerous financial institutions.

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