Data Losers Settle for $15MM

Choicepoint, who lost hundreds of thousands of data records to scammers, and was rewarded for their ineptitude with some big government contracts, has settled with the FTC to the tune of $15 million. $10 million is a fine (that the government body will invariably lose itself), and the rest goes into a “victims fund.”

Of course the actual number of “victims” is yet to be determined – they are still coming out of the woodwork, and unless everyone on the list changes all their credit card numbers, they still will be for a long time.

Robert K. Brown’s blog has a running list of commentors complaining about getting hit with fraudulent charges. The list keeps on growing. Brown thinks the settlement should have been more like $50 million, but Choicepoint likely didn’t have that kind of money to spend after paying all those lobbyists.

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