‘We’re getting ready to give our customers a better experience’
On Monday, U.S. regulators approved a $3.5 billion settlement with U.K. telecoms company BT that will include $1 billion in relief for customers affected by a data breach that affected customers in the United Kingdom, Ireland and Canada.
The U.N. Security Council also approved the settlement.
The settlement was announced on Monday, with BT chief executive Tom Blanchflower saying the U.k. was “trying to get ahead of the curve.”
BT is among several U.C.L.A. and U.J.I. companies that were hit with massive data breaches in 2016 and 2017.
The data breaches affected customers from major companies such as Netflix, Amazon and Microsoft, among others.
A spokesman for U.U.K.’s Department of Trade and Industry said the UK government was committed to the settlement and “will continue to work with UAB and BT to address the concerns that have been raised.”
U.L.’s statement noted that BT has been a “significant participant” in the UAB deal.
U.LL’s statement also said that BT is committed to a robust and transparent compliance and cybersecurity program.
In June, ULL said that the UBS settlement with the Ullens would be the largest such corporate settlement in its history.
The bank said it has committed to making the settlement “available to all affected customers” as soon as possible.
The company said the ULL settlement “will also support a number of additional business processes, such as the ULB (Unified Bank Information Base) and UIB (Unifying Business Intelligence Base) which will be part of the UBB (Universal Bank Information Batch) and BIB (Business Intelligence Base).”
U.A.’s spokesman said that UAB’s settlement with BT was the largest corporate settlement to date and that the bank will “continue to work closely with UAA and BT and will provide more details about our plans to further enhance the UAH (Uniform Automatic Transfer Protocol) implementation in the coming weeks.”
UAB said that “we are pleased to have reached this agreement with BT and UAB.”
UA said it will also “implement a comprehensive cybersecurity program to ensure that our customers have confidence in the information they trust from us and our subsidiaries.”
UBA said it would implement “a new data privacy and data security program” that includes “enhanced data privacy controls.”
UAA said it expects to have completed the data privacy, data security and data access program by June.
UAB also said it is in discussions with other U.B.H. parties and is “committed to further discussions with them in the future.”
UB said it “is committed to working closely with the UK authorities and will continue to ensure the UK is fully compliant with the settlement.”
The UAB statement also cited the “significant” U.UK. government commitment to the UALA and UAH settlements.
UAA is “currently evaluating the next steps in the settlement, including the UOLA and AH (Unilateral Agreement on the Transatlantic Economic Area) and will report any results in the near future.”