Yahoo to pay $50 mn in damages for data breach

According to media reports, Yahoo has agreed to pay a $50 million fine to 200 million people in the US and Israel who were the victims of a personal data breach. The company will also provide credit monitoring services to users for a period of 2 years.

In 2013, Yahoo suffered a security breach that impacted all its 3 billion user accounts. Following that, it reported another breach that affected 50 million users where personal data including names, birth dates, email addresses, and encrypted passwords were compromised. This class action lawsuit has come to a conclusion after two years. The organisation will settle the payment of fines once the California Federal Court has approved the settlement.