- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Kyle Brasseur2022-10-19T14:53:00
EyeMed Vision Care agreed to pay a penalty of $4.5 million as part of a settlement with the New York State Department of Financial Services (NYDFS) for cybersecurity control failures that helped enable a 2020 data breach.
EyeMed did not have proper controls in place when a bad actor gained access to a shared email inbox containing more than six years’ worth of personal information from customers, including minors, the NYDFS alleged. As a result, the company violated the regulator’s cybersecurity regulations, including through its attestations that it was in compliance with the requirements.
“It is critically important that consumers’ non-public information is kept safe from potential criminal activity,” said NYDFS Superintendent Adrienne Harris in a press release Tuesday. “… This settlement demonstrates DFS’s ongoing commitment to protecting consumers while ensuring the safety and soundness of financial institutions from cyber threats.”
THIS IS MEMBERS-ONLY CONTENT. To continue reading, choose one of the options below.
News and analysis for the well-informed compliance or audit exec. Select an option and click continue.
Annual Membership $499 Value offer
Full price one year membership with auto-renewal.
Membership $599
One-year only, no auto-renewal.
Mortgage servicer OneMain Financial Group will pay $4.25 million to settle allegations it left customer information vulnerable to cyberattacks by failing to implement required controls under New York’s cybersecurity law.
Robinhood Crypto agreed to pay a $30 million fine to the New York State Department of Financial Services for “significant failures” in its Bank Secrecy Act/anti-money laundering and cybersecurity compliance programs.
The New York State Department of Financial Services announced a $5 million penalty against Carnival Corp. for “significant” cybersecurity failures, including not implementing basic protocols to prevent four separate data breaches from 2019-21.
USAA Federal Savings Bank has been hit with its third cease and desist order from the Treasury Department’s Office of the Comptroller of the Currency in the past five years for failing to correct unsafe and unsound banking practices.
Becton Dickinson medical device company will pay $175 million for “repeatedly” misleading investors about its Alaris infusion pump, a product the company knew was flawed and was sold without the required patient-safety approvals, the Securities and Exchange Commission said.
The Securities and Exchange Commission charged bankrupt fashion retailer Express with failing to disclose nearly $1 million in perks to a former chief executive, but did not levy a financial penalty thanks to its cooperation, the SEC said.
