United States of America: New York State Department of Financial Services investigation into PayPal for alleged violations of Cybersecurity Regulation
Progress
Current status
in force
23 Jan 2025 in force
Scope
Implementers
United States of America
Policy Area
Data governance
Policy Instrument
Cybersecurity regulation
Regulated Economic Activity
platform intermediary: e-commerce
Government Branch
executive
Government Body
other regulatory body
Implementation Level
subnational
Timeline of events
New York State Department of Financial Services imposed USD 2 million fine against PayPal for violations of cybersecurity regulation
On 23 January 2025, the New York State Department of Financial Services (NYDFS) announced that it had imposed a USD 2 million fine against PayPal for violations of the state's Cybersecurity Regulation. In particular, an investigation revealed that P…
SourceEvent type
investigation
Action type
ruling
Government branch
executive
Government body
other regulatory body