10th Indian Delegation to Dubai, Gitex & Expand North Star – World’s Largest Startup Investor Connect
E Commerce

Ring agrees to pay $5.8 million settlement over unauthorized access to customer videos

Ring, the video surveillance device manufacturer owned by Amazon, has agreed to pay $5.8 million to settle claims made by the Federal Trade Commission (FTC) regarding unauthorized access to customers’ videos by Ring employees and contractors. The settlement, which was filed in the U.S. District Court for the District of Columbia, follows an investigation into Ring’s handling of sensitive video data.

The FTC alleged that Ring employees and contractors had unrestricted access to customer videos, allowing them to view, download, and transfer the footage for personal use. The complaint highlighted the “dangerously overbroad access and lax attitude toward privacy and security” exhibited by Ring. The company granted every employee and hundreds of third-party contractors in Ukraine full access to customer videos, irrespective of their job requirements. This unrestricted access enabled staff to download and share customer videos without authorization.

The FTC also revealed instances where Ring employees illicitly accessed private videos of women, with some incidents going undetected for months. Ring acknowledged that the individuals involved are no longer employed by the company. The FTC further accused Ring of negligence in handling reports of credential stuffing, where hackers exploit stolen user credentials from one breach to gain unauthorized access to other accounts. The company’s failure to respond promptly allowed hackers to compromise more than 55,000 U.S. customer accounts between January 2019 and March 2020.

As part of the settlement, Ring will pay $5.8 million and implement a comprehensive data security program. The program will include regular assessments and monitoring for the next 20 years. Additionally, Ring will disclose the level of access its employees and contractors have to customer data.

Ring spokesperson Emma Daniels stated that the company disagrees with the FTC’s allegations and denies any violations of the law. Despite the settlement, Ring has made efforts to enhance security measures, including mandating two-factor authentication for users and introducing end-to-end encryption to protect customer videos.

The resolution of this case underscores the importance of safeguarding consumer privacy and reinforces the need for robust data security practices in the technology industry.

by Tech In Asia

GoTo’s legal and corporate secretary said the company follows regulations for public companies and will prioritize the interests of shareholders. Source link

by INC42

SUMMARY The due diligence is done, and both sides are negotiating final terms for the cash and equity transaction If the deal closes, it will mark one of the biggest consolidation in India’s auto tech sector Notably, CarDekho entered the unicorn club in October 2021 after raising $250 Mn at a $1.2 Bn valuation. It, however, shut down its used-car retail business in 2023 after high operating costs made it unviable Listed auto marketplace CarTrade is reportedly in advanced stages to acquire rival CarDekho in a deal valued at… Source link

by INC42

From a brand known for its cool urban image and setting the Indian craft brewery benchmark, Bira 91’s survival hangs by a thread.  The startup, which has raised more than $200 Mn in funding to date from investors such as Peak XV Partners, Sofina, and Kirin Holdings, among others, is struggling to move past the slowdown that hit its business last year.   At the centre of the storm are 600 employees, the investors, and Ankur Jain, the CEO and founder of B9 Beverages Ltd, Bira 91’s parent company.  Jain is under pressure to step down… Source link