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T-Mobile fined $60 million over data breach, notching top CFIUS penalty
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T-Mobile fined $60 million over data breach, notching top CFIUS penalty
Aug 14, 2024 2:18 PM

WASHINGTON, Aug 14 (Reuters) - A powerful U.S. committee

that scrutinizes foreign investment for national security risks

fined T-Mobile $60 million, its largest penalty ever,

for failing to prevent and report breaches of sensitive data,

senior U.S. officials said on Wednesday.

The penalty imposed by the Committee on Foreign Investment

in the U.S. (CFIUS) is tied to violations of a mitigation

agreement that German-owned T-Mobile inked with the panel as

part of its $23 billion acquisition of U.S.-based Sprint Corp in

2020.

T-Mobile did not immediately respond to a request for

comment.

"The $60 million penalty announcement highlights the

committee's commitment to ramping up CFIUS enforcement by

holding companies accountable when they fail to comply with

their obligations," one of the officials said, adding that

transparency around enforcement actions incentivizes other

companies to comply with their obligations.

The size of the fine, and CFIUS's unprecedented decision

to make it public, show the committee is serious about taking a

more muscular approach to enforcement as it seeks to deter

future violations.

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