- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Adrianne Appel2023-11-29T19:05:00
A title insurance company agreed to pay a $1 million fine and implement stronger compliance measures for allegedly not securing customers’ personal data, particularly during a 2019 cybersecurity breach.
First American Title Insurance Company, the second largest title insurer in the nation, did not address a known vulnerability on its proprietary storage platform, EaglePro, before the issue was exposed by a cybersecurity journalist months later, according to the New York State Department of Financial Services (NYDFS). The regulator announced the action Tuesday.
Under the NYDFS’s 2017 Cybersecurity Regulation, First American was required to have controls in place to secure its customer data.
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Apparel company VF Corp., the owner of brands including The North Face, Vans, and Timberland, disclosed its estimation approximately 35.5 million customers had their personal data stolen as part of a cybersecurity incident it uncovered in December.
Virtual currency brokerage firm Genesis Global Trading agreed to pay an $8 million penalty levied by the New York State Department of Financial Services for alleged compliance failures that left it vulnerable to illicit activity and cybersecurity threats.
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.
German petrochemical parts supplier Aiotec agreed to pay $14.5 million to settle allegations that it engaged in a four-year conspiracy to dismantle and ship a plastics manufacturing plant owned by a U.S. company to Iran, in violation of U.S. sanctions.
Kiromic BioPharma will pay no fine to the Securities and Exchange Commission after self-reporting that it failed to disclose material information about two cancer drugs to investors.
The U.K. Financial Conduct Authority fined the London branch of Australian-based Macquarie Bank Limited more than 13 million pounds (U.S. $16.3 million) for “serious control failures” that allowed a trader to conceal hundreds of fictitious trades over a 20-month period.
