Sunnyvale-based Yahoo announced Tuesday that every one of its 3 billion account holders was compromised by a massive data breach in August 2013, three times the number the company initially reported in 2016. Yahoo's announcement comes less than a month after the credit reporting giant Equifax revealed that a 3-month-old breach exposed more than 145 million customers' social security numbers and other personal information. And San Francisco's Wells Fargo, which remains embroiled in a fake-accounts scandal, acknowledged Wednesday that it improperly charged some borrowers mortgage extension fees. We discuss the ethical and legal standards governing corporations amid such scandals, and what more may need to be done to protect consumers' rights, property and privacy.
Ethics Expert Kirk Hanson On Data Breaches, Corporate Accountability
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An ATM machine on Third Avenue is viewed in New York on May 10, 2013, just one of the many that were used as cyber thieves around the world stole $45 million by hacking into debit card companies, scrapping withdrawal limits and helping themselves from cash machines, US authorities said May 9, 2013. (Photo: Timothy A. Clary AFP/Getty Images)