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Lost Laptop Costs Veterans Affairs Department $20 Million

By Ethisphere.com

The Veterans Affairs Department agreed to a $20 million settlement yesterday, after concerns of identity theft arose from a 2006 case of a lost laptop and external hard drive. A VA analyst admitted to losing the laptop, which contained the names, birth dates and social security numbers of over 26 million veterans and active troops.

The data was lost after the analyst?s home was robbed, but was later recovered by authorities. The analyst had taken the laptop home without clearance to do so.

The $20 million will be given in payments of $75 to $1,500 to veterans who can give clear evidence that they experienced emotional harm from the incident, or had expenses incurred from their stolen information.

If there is any money left over it will be donated to veterans-related charities.

Full post as published by Ethisphere Blog - Good. Smart. Business. Profit. on January 28, 2009 (boomark / email).