Understanding the PayPal Cybersecurity Settlement with New York

Home » Understanding the PayPal Cybersecurity Settlement with New York

On January 23, 2025, the New York State Department of Financial Services (“NYDFS”) announced a $2 million penalty for PayPal, Inc. after an investigation revealed significant cybersecurity failures that exposed sensitive customer information. This case is a reminder for businesses regulated by NYDFS about the importance of properly implementing cybersecurity policies, training personnel, and ensuring […]

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