IT Security Stories to Watch: Target, Visa Settle Over Data Breach

Target (TGT) and Visa (V) have agreed to terms on a settlement relating to the exposure of 40 million debit and credit card accounts during Target’s Dec. 2013 data breach.

And as a result, these companies top this week’s list of IT security news makers, followed by the IRS, Illinois Department of Corrections (IDOC) and Lookout.

What can managed service providers (MSPs) and their customers learn from these IT security news makers? Check out this week’s list of IT security stories to watch to find out:

1. Target reaches settlement with Visa

Target has reached a settlement with Visa after the retailer’s Dec. 2013 data breach. The issuers of a majority of the cards that were compromised have entered into direct settlements with Target and Visa, Target said, which allowed the two companies to negotiate a larger deal.

Financial terms of the agreement were not disclosed, but a person familiar with the situation told NBC News that the deal could be worth $67 million.

“This agreement attempts to put this event behind us, and increase the industry’s focus on protecting against future compromises with new technologies,” Visa said in a prepared statement.

2. Taxpayers file lawsuit against IRS due to data breach

Two taxpayers are seeking class action status for a lawsuit against the IRS in response to a data breach that affected thousands of Americans.

The lawsuit claims that the IRS knew its website was vulnerable to security breaches but did not address the issues.

IRS officials discovered the data breach in May. Fortune reported that hackers allegedly stole personal data including Social Security numbers and accessed completed tax returns.

3. IDOC gets breached

The personal information of more than 1,000 IDOC staff members recently was exposed during a data breach. Chicago Tribune reported that the incident was the result of human error.

“We immediately notified the affected employees and took steps to ensure that their identities and credit would not be further breached,” IDOC said in a prepared statement.

IDOC said it is investigating the incident and is offering free credit monitoring services to affected employees.

4. Lookout: Many federal employees put sensitive data at risk

A new Lookout survey of more than 1,000 federal employees revealed that unsanctioned bring-your-own-device (BYOD) is a major problem for many government workers.

Lookout’s State of Federal BYOD report showed that many federal employees using personal devices to access potentially sensitive government data, and a significant number of them engage in behaviors that could put their devices and the data they contain or access at risk.

“As we evaluate the federal government’s cybersecurity practices, we must also take into account the increasing role mobile plays in today’s workplace and assess how to better protect the sensitive data accessed by federal employees’ devices,” Bob Stevens, Lookout’s vice president of federal systems, said in a prepared statement. “This report shows that rules, policies and employee education alone are insufficient in stopping risky or threatening events before they cause damage.”

What are your thoughts on this week’s IT security stories to watch? Share your thoughts about this story in the Comments section below, via Twitter @dkobialka or email me at [email protected].