"Is this a win for victims of T-Mobile's data breach? Will this substantially impact them? Will this make them whole? I don't think so," Emory Roane of the Privacy Rights Clearinghouse told NBC 5 Responds."For an $80 billion company that made $80 billion last year, $5 to $10 per person is not going to be significantly impactful," Roane said.
Other numbers surrounding the costs of a data breach are eye-popping, especially as it relates to the individual victims themselves. The 2021 “Cost of a Databreach” report by cybersecurity leader IBM found the average cost to consumers who have their personally identifiable information stolen is $180 per record. And that price grows each year.
For its part, T-Mobile did not answer our specific questions but said in a previous statement that, like every company, it is not immune to these criminal attacks. T-Mobile said in addition to the customer payouts, it has since"doubled down" on its extensive cybersecurity program.
For those eligible for this settlement, T-Mobile says there is no need to contact the company; it will notify customers. It could be many months before the small checks make their way into the hands of those who were impacted.