Financial services company OneMain fined $4.25 million for security lapses

A series of security errors and mishaps has cost personal loan provider OneMain $4.25m in penalties, issued by the New York State department of financial services. The fines, coming at the end of a detailed investigation into how security practices at the company were determined to be below-par, serve as a timely warning to other organisations.

OneMain experienced “at least” three security incidents over three years, from 2018 to 2020. The business is a licensed lender and mortgage servicer and …

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