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PayPal Singapore unit slapped with privacy fine in South Korea for data breaches

( October 26, 2023, 01:47 GMT | Official Statement) -- MLex Summary: PayPal Pte. In Singapore was fined more than 906 million won (roughly $668,000) by South Korea's privacy regulator after multiple data breaches. According to a statement from the Personal Information Protection Commission, these breaches involved a hacking incident involving its money-transfer feature, an internal email phishing scheme, and a credential-stuffing attack, exposing thousands of South Korean users. Despite PayPal's defense highlighting its security measures, the commission said the company failed to take sufficient safety measures and also delayed reporting the breaches, thereby violating the country’s privacy law.The statement, in Korean, is attached....

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