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AlertBoot offers a cloud-based full disk encryption and mobile device security service for companies of any size who want a scalable and easy-to-deploy solution. Centrally managed through a web based console, AlertBoot offers mobile device management, mobile antivirus, remote wipe & lock, device auditing, USB drive and hard disk encryption managed services.

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AlertBoot offers a cloud-based full disk encryption and mobile device security service for companies of any size who want a scalable and easy-to-deploy solution. Centrally managed through a web based console, AlertBoot offers mobile device management, mobile antivirus, remote wipe & lock, device auditing, USB drive and hard disk encryption managed services.

Cost of Data Breaches: Judge Approves $20 Million Payout in VA Data Breach Case

It's official.  The judge overseeing the VA lawsuit has approved the settlement of $20 million.  If you'll recall, all of this occurred because a laptop and a hard disk were stolen from the VA, devices that did not feature hard drive encryption software like AlertBoot.

I've noted about two weeks ago that the settlement ultimately means $0.75 coming to each veteran, an unusually low number.

It looks like the figures will have to be revised.  Of the $20 million:

  • $5.5 million go to lawyers
  • $1.4 million is used to notify and inform veterans affected
  • These two account for over 34% of the $20 million settlement.  Youch!

That leaves $13.1 million to take care of everything else, or about $0.50 per affected veteran.  Thankfully, only a minority of the veterans were eventually/significantly affected by the breach itself--or at least, one supposes so--so the actual payouts per person should be much higher.

$20 million for one stolen laptop computer and one external hard drive.  If CEOs and CFOs have been demurring on using encryption software on their company computers because their financial models couldn't work without real data, it looks like they can now account for one parameter.

Related Articles:
http://www.wavy.com/dpp/news/military/military_ap_washington_JudgeOKspaymentinvetdatatheft_20090210

 
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About sang_lee

Sang Lee is a Senior Account Manager and Security Analyst with AlertBoot, Inc., the leading provider of managed endpoint security services, based in Las Vegas, NV. Mr. Lee helps with the deployment and ongoing support of the AlertBoot disk encryption managed service. Prior to working at AlertBoot, Mr. Lee served in the South Korean Navy. He holds both a B.S. and an M.S. from Tufts University in Medford, Massachusetts, U.S.A.