US EditionPayPal fined by New York for cybersecurity failures
- PayPal will pay a $2 million civil fine for cybersecurity failures that exposed customers' Social Security numbers in late 2022, according to New York state's Department of Financial Services.
- Adrienne Harris, New York's financial services superintendent, stated that PayPal failed to use qualified staff for cybersecurity functions.
- PayPal discovered the issue after a security analyst read an online message on December 6, 2022, indicating a security exploit.
- The fine was imposed for violating the financial services department's cybersecurity regulation adopted in 2017, and PayPal has since implemented multifactor authentication.
25 Articles
25 Articles
PayPal fined $2M for exposing thousands of customers' SSN
PayPal is paying up for reportedly failing to protect tens of thousands of customers' sensitive personal information. New York State's Department of Financial Services (DFS) announced on Thursday, Jan. 23, that the company will pay a $2 million fine for cybersecurity failures in early 2022, which exposed customers Social Security numbers. The fine is for violating the department's cybersecurity regulation, which was implemented in 2017. A probe …
PayPal fined by New York for cybersecurity failures | Honolulu Star-Advertiser
NEW YORK >> PayPal will pay a $2 million civil fine over cybersecurity failures that led to the exposure of customers’ Social Security numbers in late 2022, New York state’s Department of Financial Services said today.
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