This could have been avoided by implementing a cybersecurity plan that includes monitoring all activities. Not to mention the costs associated with respect to monitoring all digital activity would cost much less than the $650,000 they agreed to pay.
Ultimately, LFS failed to adequately test and verify the security of the systems and policies it put in place to protect customer records and information. Not only that, LFS relied on its third-party vendors without monitoring or auditing their performance. LFS has agreed to a monetary fine of $650,000 to resolve the issues that arose since its last settlement.
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