CU InfoSecurity Security Texas Relevant

PayPal Ties Small Data Breach and Fraud to App Coding Error

Summary

- PayPal experienced a six-month data breach affecting about 100 business customers of its loan app. - The breach led to fraudulent charges, which were fully refunded by the company.

Why It Matters for Texas Credit Unions

Relevant as it highlights potential cybersecurity risks and the importance of robust data protection measures for Texas credit unions.

Original Source Material

Fintech Giant Says Personal Data Exposed for About 100 Business Users of Loan App Financial services firm PayPal said it discovered a data breach that lasted for six months, exposed some business customers' personal information and led to fraudulent charges. The company said about 100 customers were affected, and that it has fully refunded them for fraudulent charges.