Bank of Ireland Fined €463,000 Over Data Breaches

Uploaded on 2022-04-11 in FREE TO VIEW, BUSINESS-Services-Law, BUSINESS-Services-Financial

Bank of Ireland has been fined 463,000 Euros, (U.S. $504,000) by the Irish Data Protection Commission (DPC) for a number of data breaches from November 2018 to June 2019 affecting customers personal information. The DPC said it investigated the series of data breaches made by the bank, which impacted more than 50,000 customers.   

The notifications concern the corruption of information in the Bank of Ireland’s data feed to the Central Credit Register (CCR), a system that stores loan information.

The findings concern the corruption of information as it pertains to Central Credit Register (CCR) regulations, a system that stores loan information. The CCR processes the Bank of Ireland’s data feed. The latter company was fined for a delay in communicating the data breaches with the affected customers. The DPC confirmed that 19 of the reported incidents constitute data breaches under Ireland’s General Data Protection Regulation (GDPR). In addition to the fines, the DPC issued a reprimand and has ordered that the Bank of Ireland comply with data protection regulations in place in the country. 

Since the release of information, the Bank of Ireland has said it notified all affected customers and has rectified any inaccurate information as it pertains to the case.

In a statement the bank apologised and said it notified all impacted customers and “rectified the inaccurate information reported to the CCR in all but 20 cases, which will be corrected shortly.” It has also taken measures to improve its ongoing CCR reporting, including error management procedures and a process that enables faster correction of errors.

Bank of Ireland said it “acknowledges and sincerely apologises” for the breaches identified by the DPC and said that it had taken measures to address the failings identified.

“The bank has notified all impacted customers,” it said. “It has rectified the inaccurate information reported to the CCR in all but 20 cases which will be corrected shortly... The bank has engaged fully and proactively with the commission during its inquiry and will continue to do so as it implements these additional measures as quickly as possible.”

Irish Examiner:     Compliance Week:    Finextra:    RTE:   Infosecurity Magazine:    Oodaloop:     DataBeaches: 

You Might Also Read: 

EU Fines For GDPR Breaches Increase Fivefold:

 

« Cyber Security: GCHQ's Director Speaks Out
Finland Hit By Cyber Attacks »

CyberSecurity Jobsite
Perimeter 81
Cyrin

Real Attacks. Real Tools. Real Scenarios.
Schedule a demo

Go Cyber

Training that transforms behaviours

Sign Up: Cyber Security Intelligence Newsletter

Directory of Suppliers

The PC Support Group

The PC Support Group

A partnership with The PC Support Group delivers improved productivity, reduced costs and protects your business through exceptional IT, telecoms and cybersecurity services.

BackupVault

BackupVault

BackupVault is a leading provider of automatic cloud backup and critical data protection against ransomware, insider attacks and hackers for businesses and organisations worldwide.

Alvacomm

Alvacomm

Alvacomm offers holistic VIP cybersecurity services, providing comprehensive protection against cyber threats. Our solutions include risk assessment, threat detection, incident response.

Perimeter 81 / How to Select the Right ZTNA Solution

Perimeter 81 / How to Select the Right ZTNA Solution

Gartner insights into How to Select the Right ZTNA offering. Download this FREE report for a limited time only.

XYPRO Technology

XYPRO Technology

XYPRO is the market leader in HPE Non-Stop Security, Risk Management and Compliance.

Assuria

Assuria

Assuria Cyber Security solutions provide protective monitoring of systems and user activity across the whole IT infrastructure.

CYBER 1

CYBER 1

CYBER 1 provides cyber security solutions to customers wanting to be resilient against new and existing threats.

Pradeo

Pradeo

Pradeo Security offers a complete, automatic and seamless protection to mobile devices and applications, aligned with your organization security policy while preserving business agility.

Neoteric Networks

Neoteric Networks

We deliver a no nonsense procedure to implementing technology. The technology selection process ensures that all customers enjoy an engineered methodology implementing technology.

Digital Magics

Digital Magics

Digital Magics is an incubator for innovative startups which offer content and services with high technological value. Areas of focus include IoT, Enterprise Software, AI, Industry 4.0 and Blockchain.

Smart Protection

Smart Protection

Smart Protection are experts in brand and trademark protection - we fight against counterfeits and unauthorized usages of brands with machine learning technology.

Stratosphere Networks

Stratosphere Networks

Stratosphere Networks offer managed cybersecurity services rooted in Managed Detection and Response and Security Operations Center services that our team can tailor to meet your needs.

Voxility

Voxility

Voxility provides Infrastructure-as-a-Service in the biggest Internet hubs in the world.

DataFleets

DataFleets

DataFleets is a privacy-preserving data engine that unifies distributed data for rapid access, agile analytics, and automated compliance.

Laminar

Laminar

Laminar provides the only Public Cloud Data Protection solution that provides full visibility and enforcement capabilities across your entire public cloud infrastructure.

Shorebreak Security

Shorebreak Security

Shorebreak Securioty specialize in conducting highly accurate, safe, and reliable Information Security tests to determine the risks posed to your business.

FourthRev

FourthRev

FourthRev is an education-technology start-up with a mission to solve the skills crisis of the Fourth Industrial Revolution.

Gradient Cyber

Gradient Cyber

Gradient Cyber is a trusted cybersecurity partner specializing in small businesses and mid-market enterprises concerned about cybersecurity but lacking the staff to give it the attention it deserves.

Lucidum

Lucidum

The Lucidum platform helps you assess risk and mitigate vulnerabilities by finding and correlating data from your security tech stack.

Aceiss

Aceiss

Aceiss empowers access security, providing unprecedented visibility and insights into user access.

Circle Security

Circle Security

Circle’s breakthrough security API unifies solutions for identity and data security into one architecture and empowers organizations to secure their identity, data and privacy in their applications.