PayPal to Settle New York's Allegations of Cybersecurity Failures
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PayPal has agreed to pay a $2 million penalty to New York state to settle allegations of cybersecurity failures that resulted in a data breach.
January 23, 2025 | 4:30 pm
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PayPal will pay a $2 million penalty to New York state to settle allegations of cybersecurity failures that led to a data breach.
The $2 million penalty and the negative publicity from the cybersecurity failure allegations could lead to a short-term negative impact on PayPal's stock price. Investors may be concerned about the company's cybersecurity practices and potential future liabilities.
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