/regulation & compliance

News and resources on regulation, compliance, legal and governance issues for banks and fintechs.

Block says ex-employee accessed customer data without permission

Block has informed the SEC that a former employee has downloaded reports, without permission, containing customer information on US Cash App users.

  0 Be the first to comment

Block says ex-employee accessed customer data without permission

Editorial

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.

The ex-staffer downloaded reports in December that included the full names and brokerage account numbers of Cash App Investing users.

For some customers, brokerage portfolio value, brokerage portfolio holdings and/or stock trading activity for one trading day were also downloaded.

The reports did not include usernames or passwords, Social Security numbers, date of birth, payment card data, addresses or bank account information.

Block - formerly Square - says it is contacting around 8.2 million current and former customers, as well as appropriate regulatory authorities.

Sponsored [On-Demand Webinar] Solving the KYC challenge with end-to-end processes

Comments: (0)

[New Report] Managing Fraud Risks with Synthetic Data: A Practical Approach for Businesses ServicesFinextra Promoted[New Report] Managing Fraud Risks with Synthetic Data: A Practical Approach for Businesses Services Industry