Wendy Davis reports: The Federal Trade Commission’s proposed changes to security regulations for financial institutions could also affect a broad swath of non-financial companies — including ad agencies, social networks, lead generators and ad-tech companies — according to the Association of National Advertisers. The organization is urging the FTC to refrain from imposing a slate…
Category: Financial Sector
Capital One fined $80 million for 2019 hack of 100 million credit card applications
Devlin Barrett reports: Capital One has agreed to pay an $80 million fine to U.S. regulators over a major hacking incident last year in which authorities say about 100 million credit card applications were illegally accessed. The Virginia-based bank with a popular credit card business said it has taken steps to tighten security around its…
SG: The Central Depository and two other organisations fined for data privacy breach
Yip Wai Yee reports: The Central Depository (CDP) and two other organisations have been fined a total of $47,000 for breaching data privacy laws. CDP received the biggest fine of $32,000 after it mailed dividend cheques to outdated addresses, putting more than 200 account holders at risk of having their personal data disclosed. According to…
Morgan Stanley Hit with Class Lawsuit Over Alleged Data Breaches
Jed Horowitz reports: Former and current Morgan Stanley customers have filed a putative class-action lawsuit alleging negligence and invasion of privacy over the firm’s failure to properly scrub decommissioned hardware of personal information such as social security numbers, account numbers and other personal data. Morgan Stanley earlier this month began notifying brokers and customers that some…
NZ: Kiwibank breach ‘significant’ – Privacy Commissioner
Kiwibank is investigating how it sent 4200 customers an email or online bank statement with their own account number, name and address, but another person’s transaction history. The commissioner, John Edwards, said some people will be identifiable by the statements and information sent. Read more on RNZ.
NY Charges First American Financial for Massive Data Leak
Brian Krebs reports: In May 2019, KrebsOnSecurity broke the news that the website of mortgage title insurance giant First American Financial Corp. had exposed approximately 885 million records related to mortgage deals going back to 2003. On Wednesday, regulators in New York announced that First American was the target of their first ever cybersecurity enforcement action in…