July 23, 2024 at 12:35PM
Verizon Communications has settled a $16 million agreement with the FCC over three data breaches at its subsidiary, TracFone Wireless, after its 2021 acquisition. The breaches involved unauthorized access and exposed customer data. As part of the settlement, Verizon must enhance data security measures, including API vulnerability reduction, SIM change protections, and annual security training.
The meeting notes you provided detailed Verizon Communications’ $16,000,000 settlement with the Federal Communications Commission (FCC) in the U.S. over three data breach incidents at its subsidiary, TracFone Wireless, occurring between 2021 and 2023. The settlement requires Verizon to implement specific measures to enhance the security of customer data, including developing an information security program, implementing SIM change and port-out protections, conducting annual security assessments, and providing employee privacy and security awareness training. The number of affected individuals and SIM-swapping incidents mentioned in the Consent Decree document have been censored. BleepingComputer attempted to obtain further information from Verizon and TracFone without success.