PayPal to pay NYS $2M for violating DFS’s Cybersecurity Regulation

January 23, 2025 New York State Department of Financial Services Superintendent Adrienne A. Harris today announced that PayPal, Inc. (PayPal) will pay a $2 million penalty to New York State for violations of DFS’s Cybersecurity Regulation. An investigation determined PayPal failed to use qualified personnel to manage key cybersecurity functions and failed to provide adequate training…

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