In early September, Mexico’s data protection authority, the National Transparency, Information Access and Data Protection Institute (INAI), issued a fine of 32 million pesos (U.S. $1.95 million) to Mexican bank Grupo Financiero Banorte after the bank neglected to notify its customers that it had suffered a data breach.
The breach came about during an update to Banorte’s IT systems in late 2014 and early 2015 but was not detected until sometime later. Around 20,000 accounts are thought to have been compromised, including information of past customers which should have been deleted under Mexico’s privacy laws, but contradicting reports made by the bank make it unclear what was lost.
Continue Reading Huge fine of nearly U.S. $2 million levied on Mexican bank after data breach