Over the past few decades, consumer data has become increasingly important for companies to protect. Companies across all industries have access to consumer data, including credit card information, social security numbers, and buyer behavior. When data breaches occur, millions of consumers can have their personal information stolen, sold on the dark web, and used by hackers to steal the identities of others.
Most recently, Marriott Hotels and Resorts announced that its servers were hacked through a data breach. Within hours of the announcement, two men in Oregon filed a lawsuit worth more than $12.5 billion in costs and losses. This lawsuit would pay out an estimated $25 for each one of the 500 million users who had their personal data compromised because of Marriott’s server breach. The $25 covers the cost of time that consumers can expect to spend cancelling credit cards and checking to make sure their personal information is secure.
While many people won’t face any penalties as the result of this breach, some customers could face years of identity theft and credit-related problems. Hackers can take out fraudulent bank loans, rack up thousands in credit card debt, and even undergo medical procedures using the social security numbers of their victims. It is essential that your data remains secure.
Marriott may be the most recent example of a company that was affected by a data breach, but it is by no means the only one. Prominent companies like Target, Best Buy, and Equifax. Most, if not all, of these companies have lawsuits pending against them for not protecting consumer data from hackers and data breaches.
If your data was compromised because of one company’s negligence, contact Ralph M. Guito III, your product liability lawyer. We take on companies of all sizes to get our clients the compensation they need. Schedule a free consultation today and remember, you don’t pay unless you win.