Friday, July 18, 2008

Radio Shack fined $630,000

Texas AG finishes probe of Radio Shack's identity protection measures

Electronics retailer RadioShack Corp. has agreed to pay Texas Attorney General Greg Abbott's office $630,000 to settle an investigation into the company's identity-theft protection practices.

While $50,000 will cover attorneys' fees, the rest of the fine will pay for future investigations related to identity theft.

Fort Worth-based RadioShack (NYSE: RSH) also agreed to enhance its information security requirements and add an identity-theft protection training program for new employees.

RadioShack was investigated after the attorney general learned a retail location had dumped thousands of sensitive records into a trash can. The records contained confidential client data, Social Security numbers, debit and credit information and personal contact information. Read the full article
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