T-Mobile has been fined $60 million for failing to both report and stop data breaches, as indicated by Bloomberg. The hefty fine was levied by the Committee on Foreign Investment in the US (CFIUS) and represents the largest such financial penalty the organization has ever issued. T-Mobile is owned by Deutsche Telekom, a company based in Germany, which is why CFIUS got involved.
These penalties have their origins in the terms of a 2020 deal in which T-Mobile purchased Sprint. CFIUS put some conditions on the purchase, including some related to protecting consumer data. The Committee found that T-Mobile didn’t comply with these conditions by failing to secure data and then by failing to report unauthorized access to this data, as reported by Reuters.
By Lawrence Bonk
Full story at Yahoo News.
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