Data breach case: US court approves Infosys McCamish's proposed $17.5 million settlement
The Hindu Business Line
A US court approved Infosys McCamish's $17.5 million settlement for a 2023 data breach affecting Bank of America customers.Summary
A US court has granted final approval to a $17.5 million settlement proposed by Infosys McCamish Systems to resolve class action lawsuits stemming from a 2023 cybersecurity incident. Bank of America identified Infosys McCamish as the source of a data breach in February 2024, which impacted 57,028 customers. The breach occurred on October 29, 2023, and was discovered the following day. Infosys stated that the settlement, if not appealed within 30 days, will resolve all allegations without admitting liability. The agreement covers all pending class action lawsuits related to the incident, and the funds will be used to settle claims arising from the breach.
(Source：The Hindu Business Line)