Corporate Corruption News Stories

Excerpts of Key Corporate Corruption News Stories in Major Media

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Note: This comprehensive list of news stories is usually updated once a week. Explore our full index to revealing excerpts of key major media news stories on several dozen engaging topics. And don't miss amazing excerpts from 20 of the most revealing news articles ever published.

Da Ying "David" Sze walked out of a four-story concrete warehouse in Queens, New York, carrying several bags full of money. Federal agents had been surveilling him for months. They suspected him of leading a gang of money launderers whose clients included Chinese fentanyl dealers. Most of that business had been conducted at one institution: TD Bank. When investigators looked closer at the bank, they realized Sze wasn't the only criminal who'd made TD their depository of choice. There was the group from Manhattan's Diamond District using bogus gold sales to launder money. The Colombian drug traffickers using TD debit cards to bring their US profits back home. And the human trafficking ring that claimed to be an HVAC company when it opened an account. The more investigators looked at TD, the more money laundering they found. Last year, TD's American subsidiary became the first US bank ever to plead guilty to conspiracy to commit money laundering. The company agreed to pay $3.1 billion in fines to various parts of the federal government, a sum that included the biggest penalty ever levied by the Department of Justice under the Bank Secrecy Act, the main US anti-money-laundering law. More than two dozen people, including three bank employees, have already been charged. US authorities have also imposed an asset cap on TD's American retail operations, limiting their size indefinitely. This is among the most feared punishments in banking.

Note: Read our Substack on the dark truth about the war on drugs. For more along these lines, read our concise summaries of news articles on financial industry corruption and the war on drugs.

If economic inequality increases within a country, the risk of civil war breaking out grows. This is the finding from a study by the Chair of Economic History at the University of TĂĽbingen. The study has been published in the Review of Income and Wealth. The calculations revealed a statistically significant connection between unequal distribution of income and the outbreak of civil wars. The results can be verified using historical events: for example, land was extremely unequally distributed in Russia before the October revolution of 1917–and this critically contributed to the outbreak of revolution and civil war, a marker that was also identified by the new benchmark with a correspondingly high probability. The new benchmark also makes it possible to predict the risk of civil war today: "In the U.S. the inequality in income distribution has risen sharply in the past 30 years. Accordingly, the risk of a civil war in the U.S. has risen drastically from 10% to 21%," says Baten. In Great Britain, China, India and Russia too, inequality has risen greatly in the same period. "We've checked what influence other variables had on the outbreak of civil wars," says Laura Radatz, co-author of the study. "For instance, the size of a country and its population naturally increase the probability that a civil war will break out somewhere in this country." The amount of economic growth in a country does not measurably influence the risk of a civil war, according to the study.

Note: For more along these lines, read our concise summaries of news articles on financial inequality.

Even when the economy appears to be booming, millions struggle to stay afloat. In a recent poll from Demand Progress, 81.6 percent of voters surveyed said they want leaders who break up monopolies, compared to just 47.3 percent who prioritize cutting government red tape. This poll suggests that the public supports a populist approach that confronts corporate power more than an abundance agenda that sidesteps it. It reflects a growing recognition: while bureaucratic inefficiencies certainly exist, corporations are blocking our abundance because scarcity is profitable. The scarcity that so many Americans feel in their daily lives is not by accident, it's by design. Companies block abundance by strategically reducing output and access to goods and services. Artificial scarcity is a business strategy. One that prioritizes profit maximization over widespread availability, ensuring that demand consistently outstrips supply. This deliberate restriction allows companies to command higher prices. Concentration makes it easier to manufacture scarcity. When a few large players dominate the market, they can manipulate the fundamental dynamics of supply and demand and charge high economic rents. This is made possible by an economic and political system that corporations have spent decades reshaping to suit their needs. As a result, we live in an economy that has quietly redefined freedom as the power of the wealthy to set the terms for the rest.

Note: For more along these lines, read our concise summaries of news articles on corporate corruption and financial inequality.

In her new book, Bad Company: Private Equity and the Death of the American Dream, journalist and WIRED alum Megan Greenwell chronicles the devastating impacts of one of the most powerful yet poorly understood forces in modern American capitalism. Flush with cash, largely unregulated, and relentlessly focused on profit, private equity firms have quietly reshaped the US economy, taking over large chunks of industries ranging from health care to retail–often leaving financial ruin in their wake. Twelve million people in the US now work for companies owned by private equity, Greenwell writes, or about 8 percent of the total employed population. It is very hard for private equity firms to lose money on deals. They're getting a 2 percent management fee, even if they're running the company into the ground. They're also able to pull off all these tricks, like selling off the company's real estate and then charging the company rent on the same land it used to own. When private equity firms take out loans to buy companies, the debt from those loans is assigned not to the private equity firm but to the portfolio company. It is just not about improving the company at all. It is about, how do we extract money? There was a huge expansion of private equity in the 2010s for the same reason that venture capital exploded: There was a lot of cheap money out there, and cheap money is great for investors.

Note: For more along these lines, read our concise summaries of news articles on financial industry corruption.

A few dozen people gathered inside a graffiti-clad building in the Carabanchel district of Madrid. They had come to commiserate about the American investment banks and private equity funds that controlled their homes. Some at this meeting of the Sindicato de Vivienda de Carabanchel (the Carabanchel Housing Union) were fighting eviction orders or skyrocketing rents. Others had lost their homes through mortgage foreclosures. One attendee, Elsa Riquelme, described her yearslong battle to stay in the 600-square-foot apartment where she raised her three sons, which is now owned by Blackstone, the world's largest private equity firm. Over the past decade, Blackstone has become Madrid's largest private owner of residential real estate, and the second largest in all of Spain. Ms. Riquelme's apartment is one of 13,000 that Blackstone currently owns in Madrid, and among 19,600 it owns nationwide. Across Spain, around 185,000 rental properties are now owned by large corporations, half of those by firms based in the United States. Rental prices have increased 57 percent since 2015 and home prices 47 percent ... even as more than 4 million homes sit empty. After the pandemic pushed Spain's unemployment rate up to 15 percent, evictions nationwide spiked. In Madrid, tenant groups estimate that 20,000 renters in the city currently face the threat of eviction. These days, just 2 percent of Spanish homes available for rent are public housing. In France it's 14 percent; in the Netherlands it's 34 percent.

Note: This article is also available here. For more along these lines, read our concise summaries of news articles on corporate corruption and financial inequality.

BlackRock, the world's biggest asset management company, faces a complaint at the Organization for Economic Co-operation and Development (OECD) for allegedly contributing to environmental and human rights abuses around the world through its investments in agribusiness. Friends of the Earth US and the Articulation of Indigenous Peoples of Brazil accuse BlackRock of increasing investments in companies that have been implicated in the devastation of the Amazon and other major forests despite warnings that this is destabilising the global climate, damaging ecosystems and violating the rights of traditional communities. The influence of BlackRock is enormous. It manages more than $11tn in assets, more than the combined government spending of the world's 10 wealthiest countries. To support their complaint, Friends of the Earth investigated publicly available data on BlackRock's shareholdings ... in 20 agribusiness companies that have been implicated in environmental and human rights abuses, operating in the palm oil, pulp/paper, soy, cattle, timber and biomass sectors. It found BlackRock has more than $5bn invested in these companies, an increase since 2019 of $519m. In each of the companies is it a top 10 shareholder. Conservation organisations and Indigenous peoples have repeatedly asked BlackRock to stop financing companies that deforest the Amazon and violate communities' land rights.

Note: For more along these lines, read our concise summaries of news articles on financial industry corruption and environmental destruction.

BlackRock Inc.'s annual proxy statement devotes more than 50 pages to executive pay. How many of those are useful in understanding why Chief Executive Officer Larry Fink was compensated to the tune of $37 million for 2024? Not enough. The asset manager's latest remuneration report has heightened significance because BlackRock's shareholders delivered a rare and large protest vote against its pay framework at last year's annual meeting. That followed recommendations ... to withhold support for the so-called say-on-pay motion. In the wake of the rebuke, a board committee responsible for pay and perks took to the phones and hit the road to hear shareholders' gripes. Investors wanted more explanation of how the committee members used their considerable discretion in arriving at awards. There was also an aversion to one-time bonuses absent tough conditions. Incentive pay is 50% tied to BlackRock's financial performance, with the remainder split equally between objectives for "business strength" and "organizational strength." That financial piece was previously described using a non-exhaustive list of seven financial metrics. Now there are eight, gathered under three priorities: "drive shareholder value creation," "accelerate organic revenue growth" and "enhance operating leverage." There's no weighting given to the three financial priorities. The pay committee says Fink "far exceeded" expectations, but those expectations weren't quantified.

Note: For more along these lines, read our concise summaries of news articles on financial industry corruption.

The Electronic Frontier Foundation (EFF) and a nonprofit privacy rights group have called on several states to investigate why "hundreds" of data brokers haven't registered with state consumer protection agencies in accordance with local laws. An analysis done in collaboration with Privacy Rights Clearinghouse (PRC) found that many data brokers have failed to register in all of the four states with laws that require it, preventing consumers in some states from learning what kinds of information these brokers collect and how to opt out. Data brokers are companies that collect and sell troves of personal information about people, including their names, addresses, phone numbers, financial information, and more. Consumers have little control over this information, posing serious privacy concerns, and attempts to address these concerns at a federal level have mostly failed. Four states – California, Texas, Oregon, and Vermont – do attempt to regulate these companies by requiring them to register with consumer protection agencies and share details about what kind of data they collect. In letters to the states' attorneys general, the EFF and PRC say they "uncovered a troubling pattern" after scraping data broker registries. They found that many data brokers didn't consistently register their businesses across all four states. The number of data brokers that appeared on one registry but not another includes 524 in Texas, 475 in Oregon, 309 in Vermont, and 291 in California.

Note: For more along these lines, read our concise summaries of news articles on Big Tech and the disappearance of privacy.

Four top tech execs from OpenAI, Meta, and Palantir have just joined the US Army. The Army Reserve has commissioned these senior tech leaders to serve as midlevel officers, skipping tradition to pursue transformation. The newcomers won't attend any current version of the military's most basic and ingrained rite of passage– boot camp. Instead, they'll be ushered in through express training that Army leaders are still hashing out, Col. Dave Butler ... said. The execs – Shyam Sankar, the chief technology officer of Palantir; Andrew Bosworth, the chief technology officer of Meta; Kevin Weil, the chief product officer at OpenAI; and Bob McGrew, an advisor at Thinking Machines Lab who was formerly the chief research officer for OpenAI – are joining the Army as lieutenant colonels. The name of their unit, "Detachment 201," is named for the "201" status code generated when a new resource is created for Hypertext Transfer Protocols in internet coding, Butler explained. "In this role they will work on targeted projects to help guide rapid and scalable tech solutions to complex problems," read the Army press release. "By bringing private-sector know-how into uniform, Det. 201 is supercharging efforts like the Army Transformation Initiative, which aims to make the force leaner, smarter, and more lethal." Lethality, a vague Pentagon buzzword, has been at the heart of the massive modernization and transformation effort the Army is undergoing.

Note: For more along these lines, read our concise summaries of news articles on Big Tech and military corruption.

In 2018, still in the throes of painful withdrawal from a psychiatric drug cocktail, U.S. Air Force veteran Derek Blumke began connecting the dots. He heard horror story after horror story that followed a disturbingly familiar pattern: starting, adjusting the dose, or abruptly stopping antidepressants was followed by personality changes, outbursts and acts of violence or suicide, leaving countless families and lives destroyed. Timothy Jensen ... an Iraq war veteran who served in the Marines, had been researching psychiatric drug overprescribing in the Veterans' Health Administration (VA) system for years. He had his own harrowing personal story of antidepressant harm, and he had lost his best friend, a fellow veteran, to suicide soon after he was prescribed Wellbutrin for smoking cessation. Poring through the data, Blumke landed on some startling statistics: 68% of all veterans seen at least one time for care at the VA in 2019 had been prescribed psychotropic drugs, and 28% were issued prescriptions for antidepressants. "It should be zero shock that veterans have the suicide rates we do," Blumke said. "Veteran suicide rates are two to two and a half times that of the civilian population. Prescription rates of antidepressants and psychiatric drugs are of the same multiples, which are both the highest in the world." Antidepressants and other psychotropic drugs have huge risk profiles, but doctors and counselors aren't even being trained about these issues.

Note: Suicide among post-9/11 veterans rose more than tenfold from 2006 to 2020. Why is Mad in America the only media outlet covering this important issue affecting so many veterans? Along these lines, the UK's medicines regulator is launching a review of over 30 commonly prescribed antidepressants, including Prozac, amid rising concerns about links to suicide, self-harm, and long-term side effects like persistent sexual dysfunction–especially in children.

Outro Health [is] a telehealth startup that CEO and cofounder Brandon Goode describes as "Uber for getting off antidepressants." Outro officially launched in the US last month and is currently available in seven states. The startup is betting that many of the growing number of Americans taking antidepressants will eventually want help coming off them. Over 11 percent of US adults took medication for depression in 2023. Research has found the prevalence of adverse withdrawal symptoms may be much higher, particularly among patients who have been on them for long periods. Outro pairs patients with a clinician who meets with them on a custom schedule and guides them through a tailored tapering program. Outro currently employs a small group of medical contractors, including nurse practitioners specializing in psychiatry and general nurse practitioners, who are supervised by psychiatrists. [British academic psychiatrist and co-founder of Outro] Mark Horowitz ... was driven by his own harrowing experience coming off antidepressants ... when he was a psychiatry doctoral student. Severe insomnia and dizziness were so debilitating ...It took me years to come off, not weeks as guidelines recommended." After he recovered, Horowitz began pushing for doctors to adopt new clinical guidelines for getting off antidepressants. He coauthored the Royal College of Psychiatry's guidance for psychiatric drug cessation and joined the UK's National Health Service as a clinical research fellow. "To me, it is actually a very leftist issue to de-medicalize the way we treat anxiety and depression," [Horowitz] says, noting that such illnesses are often caused "by social circumstances, by poverty, by loneliness."

Note: For more along these lines, read our concise summaries of news articles on Big Pharma corruption and mental health.

Financed partly with US taxpayers dollars, [a] firm in Missouri called v-Fluence [was] founded by former Monsanto executive Jay Byrne. [v-Fluence] established a "private social network" to counter resistance to pesticides and genetically modified (GM) crops. A profile of former New York Times food writer Mark Bittman ... includes a description of where he lives, details of two marriages and personal hobbies, and an extensive Criticisms section. Bittman said that it was a "terrible thing," for taxpayer dollars to be used to help a PR agency "work against sincere, legitimate, and scientific efforts to do agriculture better." Syngenta signed a contract with v-Fluence in 2002 to help the company deal with negative information coming to light about its paraquat herbicides. v-Fluence went on to help Syngenta create false or misleading online content that was "Paraquat-friendly," used search engine optimization to suppress negative information about paraquat in Internet searches and investigated the social media pages of victims who reported injuries to Syngenta's crisis hotline. Syngenta's internal research found adverse effects of paraquat on brain tissue decades ago but the company withheld that information from regulators, instead working to discredit independent science linking the chemical to brain disease and developing a "SWAT team" to counter critics. In its response to those stories, Syngenta asserted that no "peer-reviewed scientific publication has established a causal connection between paraquat and Parkinson's disease."

Note: Read more about how v-Fluence was used to censor the web and silence dissenting voices. "Trust the science" sounds noble–until you realize that even top editors of world-renowned journals have warned that much of published medical research is unreliable, distorted by fraud, corporate influence, and conflicts of interest.

The Trump administration is discussing policies that would make it harder and more expensive for pharmaceutical companies to advertise directly to patients, in a move that could disrupt more than $10 billion in annual ad spending. Although the US is the only place, besides New Zealand, where pharma companies can directly advertise, banning pharma ads outright could make the administration vulnerable to lawsuits, so it's instead focusing on cutting down on the practice by adding legal and financial hurdles. The two policies the administration has focused in on would be to require greater disclosures of side effects of a drug within each ad – likely making broadcast ads much longer and prohibitively expensive – or removing the industry's ability to deduct direct-to-consumer advertising as a business expense for tax purposes. The new policies could threaten a key source of revenue to advertising and media companies, as well as the US pharmaceutical industry. Companies spent $10.8 billion in 2024 on direct-to-consumer pharmaceutical advertising in total. Before the loosening of advertising regulations by the Food and Drug Administration in 1997, US pharma companies had to list all possible side effects for a medication if they wanted to mention which condition the drug being advertised was intended to treat. Reading out a list of side effects took so long it drove up the cost for air time and meant there wasn't as much broadcast advertising as there is today.

Note: For more along these lines, read our concise summaries of news articles on Big Pharma corruption.

Health Secretary Robert F. Kennedy Jr. said he plans to tell American medical schools they must offer nutrition courses to students or risk losing federal funding from the Department of Health and Human Services. Speaking at an event in North Carolina in April, Kennedy lamented, "There's almost no medical schools that have nutrition courses, and so [aspiring physicians] are taught how to treat illnesses with drugs but not how to treat them with food or to keep people healthy so they don't need the drugs." He added, "One of the things that we'll do over the next year is to announce that medical schools that don't have those programs are not going to be eligible for our funding, and that we will withhold funds from those who don't implement those kinds of courses." A study published in the Journal of Biomedical Education in 2015 surveyed 121 American medical schools in 2012-2013 and found that medical students spend, on average, only 19 hours on required nutrition education over their four years. Those numbers have frustrated some nutrition experts, who argue doctors should focus more on preventing diet-driven conditions like obesity and diabetes and less on prescribing drugs. "We have to do something about this," said Dr. David Eisenberg, a professor at the Harvard T.H. Chan School of Public Health. "The public imagines that physicians are required to know a lot more than they are trained to know about nutrition," added Eisenberg.

Note: Nutrition funding represents only 4-5% of the total obligations at the NIH. For more along these lines, read our concise summaries of news articles on health.

In 2022, three U.S. inspectors showed up unannounced at a massive pharmaceutical plant. For two weeks, they scrutinized humming production lines and laboratories spread across the dense industrial campus, peering over the shoulders of workers. Much of the factory was supposed to be as sterile as an operating room. But the inspectors discovered what appeared to be metal shavings on drugmaking equipment, and records that showed vials of medication that were "blackish" from contamination had been sent to the United States. Quality testing in some cases had been put off for more than six months, according to their report, and raw materials tainted with unknown "extraneous matter" were used anyway, mixed into batches of drugs. Sun Pharma's transgressions were so egregious that the Food and Drug Administration [banned] the factory from exporting drugs to the United States. But ... a secretive group inside the FDA gave the global manufacturer a special pass to continue shipping more than a dozen drugs to the United States even though they were made at the same substandard factory that the agency had officially sanctioned. Pills and injectable medications that otherwise would have been banned went to unsuspecting patients. The same small cadre at the FDA granted similar exemptions to more than 20 other factories that had violated critical standards in drugmaking, nearly all in India.

Note: For more along these lines, read our concise summaries of news articles on Big Pharma corruption.

Before becoming secretary of the US Department of Health and Human Services and leader of the Make America Healthy Again movement, Robert F. Kennedy Jr. was a swashbuckling environmental attorney who regularly took aim at the meat industry. For over a decade, a group of food safety, environmental, and animal welfare nonprofits has petitioned the US Food and Drug Administration – which Kennedy now oversees – to ban the use of ... ractopamine hydrochloride. Fed to pigs in the final weeks of their lives, ractopamine speeds up muscle gain so that pork producers can squeeze more profit from each animal. But the drug has been linked to severe adverse events in pigs, including trembling, reluctance to move, collapse, inability to stand up, hoof disorders, difficulty breathing, and even death. Earlier this year, the FDA denied the petition to ban the drug. While 26 countries have approved ractopamine use in livestock, more than 165 have banned or restricted it, and many have set restrictions on or have altogether prohibited the import of pork and beef from ractopamine-fed animals. The bans stem primarily from concerns that the trace amounts of the drug found in meat could harm consumers, especially those with cardiovascular conditions. Given the lack of trials, ractopamine's threat to human health is unclear. But there's a clear case to be made that ractopamine ought to be banned because of its awful effects on animals.

Note: For more along these lines, read our concise summaries of news articles on factory farming and food system corruption.

Late last month, some 14,000 baby chicks in Pennsylvania were shipped from a hatchery – commercial operations that breed chickens, incubate their eggs, and sell day-old chicks – to small farms across the country. But they didn't get far. They were reportedly abandoned in a US Postal Service truck in Delaware for three-and-a-half days without water, food, or temperature control. By the time officials arrived at the postal facility, 4,000 baby birds were already dead. More than 9 billion chickens raised for meat annually in the US are kept on factory farms – long, windowless buildings that look more like industrial warehouses than farms. Up to 6 percent die before they can even be trucked to the slaughterhouse. The average consumer, if they think about farm animal suffering at all, may only think about it in the context of factory farms or slaughterhouses. But the factory farm production chain is incredibly complex, and at each step, animals have little to no protections. That leads to tens of millions of animals dying painful deaths each year in transport alone, and virtually no companies are ever held accountable. These deaths are just as tragic as the thousands who died in the recent USPS incident, and they are just as preventable. The meat industry could choose to pack fewer animals into each truck, require heating and cooling during transport, and give animals ample time for rest, water, and food on long journeys. But such modest measures would cut into their margins.

Note: For more along these lines, read our concise summaries of news articles on factory farming and food system corruption.

American-style intensive livestock farms are spreading across Europe, with new data revealing more than 24,000 megafarms across the continent. In the UK alone, there are now 1,824 industrial-scale pig and poultry farms. The countries with the largest number of intensive poultry farm units are France, UK, Germany, Italy and Poland in that order. For poultry farming alone, the UK ranks as having the second-highest number of intensive farms at 1,553, behind France with 2,342. Intensive livestock units are farms where 40,000 or more poultry, 2,000 or more fattening pigs, or 750 or more breeding sows are being held at any one time. The increase in so-called megafarms across Europe comes as the number of small farms has reduced dramatically, and the income gap between large and small farms has increased. The rise in intensive farming has coincided with a decline in birds, tree species and butterfly numbers. Across Europe the rise in large intensive poultry units is a key driver of river pollution. Chicken droppings contain more phosphates – which starve fish and river plants of oxygen – than any other animal manure. According to data released under freedom of information laws to Terry Jermy, the MP for South West Norfolk, megafarms in England have breached environmental regulations nearly 7,000 times since 2015. The Environment Agency carried out about 17 inspections of intensive livestock units a week in which 75% of those inspections found breaches.

Note: For more along these lines, read our concise summaries of news articles on factory farming and food system corruption.

Haiti could be Erik Prince's deadliest gambit yet. Prince's Blackwater reigned during the Global War on Terror, but left a legacy of disastrous mishaps, most infamously the 2007 Nisour massacre in Iraq, where Blackwater mercenaries killed 17 civilians. This, plus his willingness in recent years to work for foreign governments in conflicts and for law enforcement across the globe, have made Prince one of the world's most controversial entrepreneurs. A desperate Haiti has now hired him to "conduct lethal operations" against armed groups, who control about 85% of Haitian capital Port-Au-Prince. Prince will send about 150 private mercenaries to Haiti over the summer. He will advise Haiti's police force on countering Haiti's armed groups, where some Prince-hired mercenaries are already operating attack drones. The Prince deal is occurring within the context of extensive ongoing American intervention in Haiti. Currently the U.S.-backed, Kenyan-led multinational police force operating in Haiti to combat the armed groups is largely seen as a failure. Previously, a U.N. peacekeeping mission aimed at stabilizing Haiti from 2004 through 2017 was undermined by scandal, where U.N. officials were condemned for killing civilians during efforts aimed at armed groups, sexually assaulting Haitians, and introducing cholera to Haiti. Before that, the U.S. was accused of ousting Haitian leader Jean-Bertrand Aristide after he proved obstructive to U.S. foreign policy goals, in 2004.

Note: This article doesn't mention the US-backed death squads that recently terrorized Haiti. For more along these lines, read our concise summaries of news articles on corruption in the military and in the corporate world.

When National Public Data, a company that does online background checks, was breached in 2024, criminals gained the names, addresses, dates of birth and national identification numbers such as Social Security numbers of 170 million people in the U.S., U.K. and Canada. The same year, hackers who targeted Ticketmaster stole the financial information and personal data of more than 560 million customers. In so-called stolen data markets, hackers sell personal information they illegally obtain to others, who then use the data to engage in fraud and theft for profit. Every piece of personal data captured in a data breach – a passport number, Social Security number or login for a shopping service – has inherent value. Offenders can ... assume someone else's identity, make a fraudulent purchase or steal services such as streaming media or music. Some vendors also offer distinct products such as credit reports, Social Security numbers and login details for different paid services. The price for pieces of information varies. A recent analysis found credit card data sold for US$50 on average, while Walmart logins sold for $9. However, the pricing can vary widely across vendors and markets. The rate of return can be exceptional. An offender who buys 100 cards for $500 can recoup costs if only 20 of those cards are active and can be used to make an average purchase of $30. The result is that data breaches are likely to continue as long as there is demand.

Note: For more along these lines, read our concise summaries of news articles on Big Tech and the disappearance of privacy.

Important Note: Explore our full index to revealing excerpts of key major media news stories on several dozen engaging topics. And don't miss amazing excerpts from 20 of the most revealing news articles ever published.