UniCredit hit with 23 million fine for data breach

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UniCredit Italys secondlargest bank has been fined 28 million 23 million by the countrys data protection authority over 2018 data breach case
ppThe 2018 cyber attack on the banks mobile banking platform impacted the data over 750000 customers The sanction announced on Thursday is a reminder that banks must take all necessary technical and organisational and security measures to prevent their customers data from being unlawfully stolen the authority commented

The 2018 breach was no outlier for UniCredit In 2017 the bank announced that personal financial data of some 400000 customers who have taken out loans through the bank has been compromised by unauthorised third parties In 2019 UniCredit uncovered another data breach that affected the personal records of more than three million customers

Commenting on the issuing of the fine this week UniCredit responded that it would appeal the data protection authoritys decision stating that the incident had been immediately resolved and no bank data had been compromised in the breachppSponsored Webinar AI Beyond The evolution of secure customer banking experiencesppFor Finextras free daily newsletter breaking news and flashes and weekly job boardpp
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