Attorney General James from New York Attorney General announced she has “secured $1.9 million from e-commerce retailer, Zoetop Business Company, Ltd. (Zoetop), for failing to properly handle a data breach that compromised the personal information of tens of millions of consumers.”
Zoetop Business Company, the parent firm of the worldwide trendy clothing line Shein and Romwe, received a $1.9 million penalty as a consequence of having a low cybersecurity database. Which resulted in 39 million SHEIN accounts and 7 million ROMWE accounts being hacked. The data stolen included personal information of consumers worldwide, such as logins, birthdates, passwords, and most importantly their credit card details.
An investigation was conducted and in conclusion, it was found that Zoetop failed to safeguard the confidential information of the consumers. Therefore “SHEIN and ROMWE must tighten up their cybersecurity measures to protect consumers from fraud and identity theft.
Over the last decade, many businesses have fallen to hefty fines, due to the lack of adequate cybersecurity on their systems. It is a reality, that many businesses small and large, see security as a financial outlay that does not contribute towards their profit margins
SOURCE: AG.NY.GOV | OCTOBER 11 2022
