Data Company to Pay $37 Million to Resolve Claims of Misuse

Argus Information & Advisory Services Inc. has agreed to pay the US $37 million to resolve claims involving its access to and use of credit card data obtained pursuant to contracts with federal regulators, the Justice Department said Tuesday.

The Delaware and White Plains, N.Y., company allegedly improperly accessed, used, and retained anonymized data that it received under its contracts and created synthetic data that it incorporated into the products and services it sold to some commercial customers in place of actual data from certain banks, according to the DOJ.

The allegations fall under the False Claims Act and ...