T-Mobile has been fined $60 million for failing to report and stop data breaches, as indicated by Bloomberg. The hefty fine was levied by the Committee on Foreign Investment in the US (CFIUS) and represents the largest financial penalty the organization has ever issued. T-Mobile, owned by Deutsche Telekom in Germany, was penalized for not complying with conditions set during a 2020 deal where T-Mobile purchased Sprint, specifically related to consumer data protection. The unauthorized data access occurred in 2020 and 2021, with T-Mobile attributing it to technical issues post-merger. The company claims the data breach was not a breach but a technical issue that was reported and addressed promptly. CFIUS has become more stringent in enforcing penalties, with this $60 million fine being a significant increase compared to previous penalties. According to Reuters, a US official highlighted the committee’s commitment to enforcing CFIUS regulations. The story has been updated to include a quote from T-Mobile.
