- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jeff Dale2023-10-13T18:57:00
The Financial Conduct Authority (FCA) fined Equifax’s U.K. unit more than 11 million pounds (U.S. $13.3 million) regarding the company’s 2017 data breach that affected approximately 13.8 million U.K. consumers.
Equifax was originally fined nearly £16 million (U.S. $19.4 million) but qualified for a 30 percent discount under executive settlement procedures, the FCA announced in a press release Friday. The U.K. regulator also noted Equifax received a 15 percent credit for its cooperation and remedial efforts.
Equifax failed to manage and secure U.K. consumer data outsourced to its parent company in the United States, the FCA alleged.
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Software company Blackbaud agreed to pay $49.5 million in a multistate settlement addressing charges related to a 2020 cyberattack that exposed the personal data of approximately 13,000 consumers.
A massive data breach that was “entirely preventable” will cost credit-reporting agency Equifax another $1 billion to beef up its cyber-security efforts.
What resulted in the largest-ever breach of consumer data culminated in the largest data breach enforcement action in history.
Three former executives of Chicago-based Outcome Health, a healthcare technology company, were sentenced for misleading an auditor, clients, lenders, and investors about a scheme to sell $45 million in overbilled advertisements.
A home health company operating in Indiana, Ohio, and Texas agreed to pay nearly $4.5 million to settle allegations it filed false claims by giving sports tickets and other kickbacks to assisted living facilities in exchange for referrals.
Crypto-friendly Silvergate Bank will pay a total of $63 million penalties to California and the Federal Reserve Board to settle charges that its anti-money laundering program failed to properly monitor more than $1 trillion worth of customer transactions.
