Home Depot pay $19.5 million for 2014 massive data breach

There are many companies that suffered from data breach in 2014.Home Depot is one of the companies suffering from the massive data breach in 2014. The company agreed and confirmed on Tuesday to pay up to $19.5million to deal with the aftermath of the massive data breach.

In late 2014, the retailer of Home Depot exposed that the massive breach covered the theft of data pertaining to about 56 million payment cards, and also 53 million email addresses, which makes Home Depot data breach the largest one to date, exceeding what Target suffered in 2013.

Home Depot agreed to pay for the data breach, but the company expressed that is was not required to admit any wrongdoings.

The spokesman of Home Depot Stephen Holmes said, "This was the most expeditious path, but it’s not an admission of liability." Stephen also expressed that customers were not responsible for the fraudulent charges.

As for the $19.5 million compensation, $13 million will be used to reimburse customers for their losses, and the rest $6.5 million to provide customers with one and a half years of identify protection services.

In addition, the retailer of the company also promised to improve data security, including hiring a chief information security officer.

According to the announcement of Home Depot, attackers were taking advantage of malicious software, which could bypass the security measures to hack into the system and got customers data. The company thought that the malicious software is related to BlackPOS.

Malicious software will threaten data security of users and bring immeasurable consequences. So, if you found there is any malicious software on your computer, take precaution and remove the applications at once. Moreover, do not install any applications causally on the internet to keep the hacker at bay.

Click here to learn to how to completely uninstall applications on Mac.