PayPal has been fined $2 million by New York State for failing to comply with cybersecurity regulations, leading to a data breach that exposed personal information of 35,000 customers in 2022.

PayPal’s mismanagement of cybersecurity led to unauthorized access to customers’ Social Security numbers and other private information. ・Consumer Impact: Affected users faced heightened risks of identity theft due to these lapses.

New York State has announced a $2,000,000 settlement with PayPal over charges it failed to comply with the state's cybersecurity regulations, leading to a 2022 data breach.

PayPal Holdings (PYPL) agreed to pay a $2M penalty to New York State for violations of the state's Department of Financial Services cybersecurity regulation, DFS Superintendent Adrienne A. Harris said on Thursday.

PayPal has been slapped with a $2 million fine by New York regulators after a significant cybersecurity failure exposed the personal data of thousands of its customers.

PayPal, Inc., one of the world’s leading financial technology firms, has agreed to pay a $2 million penalty to New York State following a cybersecurity breach that exposed sensitive customer information, including Social Security numbers.