Consumer Protection - McGraw-Hill Introduction to Business

Cyberattack on T-Mobile Compromises Tens of Millions of Accounts

August 20, 2021

This week, T-Mobile announced that hackers obtained the personal information of millions of customers in a ransomware attack. While the telecommunications giant said that 40 million users had their data compromised, the thieves themselves claimed they made off with information from more than 100 million people. This includes customers’ names, phone numbers, and addresses as well as other sensitive data such as social security numbers, drivers license information, and PIN numbers.

T-Mobile added that no passwords or account numbers were Continue reading →

Cyberattacks, T-Mobile, Data Breach, Regulation, Security, Consumer Protection, Ransomware

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Bonus Chapter A: Business Law, Bonus Chapter B: Technology and New Media

The Consumer Financial Protection Bureau’s Collection of Complaints

Formed in 2011 with the passage of the Dodd-Frank financial reform act, the Consumer Financial Protection Bureau aims to keep citizens safe from unfair or deceptive practices by businesses. One of the ways the government organization accomplishes this task is by maintaining a database of complaints made by consumers against companies. And people have certainly taken advantage of this service since its creation two years ago. In that time, the CFPB has received more than 700,000 complaints aimed primarily at Continue reading →