By Jonathan Stempel
January 23, 2025 – 8:31 AM PST
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NEW YORK (Reuters) – PayPal (PYPL.O) 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 on Thursday.
Adrienne Harris, New York’s financial services superintendent, said a probe by her office found PayPal failed to use qualified staff to manage key cybersecurity functions or provide adequate training to address cybersecurity risks.
This left names, dates of birth and Social Security numbers belonging to customers of the San Jose, California-based digital payments company easily accessible to cybercriminals for about seven weeks, she said.
PayPal cooperated with…
