TAG Heuer, a luxury watchmaker owned by the LVMH Group has been fined for a significant data breach. This data breach has exposed the private information of nearly 2,900 South Korean customers. The breach occurred during a cyberattack on the company's website, which was renovated between 2019 and 2020, as reported by South Korea's Personal Information Protection Commission (PIPC).
Data Breach details
The cyberattack was noticed after TAG Heuer was blackmailed by the hacker in 2023, prompting the company to report the incident to the PIPC. The delay in reporting and the breach itself were the main reasons that led to a closed-door meeting by the PIPC in February 2024, where the commission decided on the penalties.
Financial penalties
Following the investigation, the PIPC has reportedly imposed a substantial financial penalty on TAG Heuer. Now, the company is required to pay around 126 million won (which is approximately USD 90,712) for the data breach and an additional 7.8 million won (approx 5638.81) for the delayed reporting of the incident.
The fines reflect the commission's stringent stance on data privacy and the importance of timely disclosure of breaches.
South Korea sets an example
S. Korea is the first country to penalize TAG Heuer for this specific incident. A PIPC official has highlighted the significance of this action, by demonstrating the country's commitment to protecting personal data and holding companies accountable for security lapses.
Impact on customers
The data breach has further raised serious concerns among TAG Heuer's South Korean customer base, as the compromised information further includes sensitive personal data.
Although the specifics of the leaked data have not been disclosed, breaches typically involve names, potentially financial information, and contact details, which could severely implicate the affected individuals.
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TAG Heuer's response
TAG Heuer's response was scrutinized, especially regarding the delay in reporting the incident.
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Apple's Face ID technology is considered one of the most secure authentication systems- which embedded within the prominent notch along with Dynamic Island of its devices. Samsung is now working on introducing a groundbreaking alternative by the name of PolarID, which comes with enhanced security and a more seamless design for the devices.
Inputs from IANS
