fbpx

    CFTC Fines Phillip Capital $1.5 Million for Data Security Breach

    Amanda Doran

    On September 12, 2019, online trading company Phillip Capital Inc. (PCI) was fined $1.5 million by the U.S Commodity Futures Trading Commission (CFTC) for failing to implement and oversee an adequate cybersecurity program or notify customers of a security breach.

    The cyber breach occurred on February 28, 2018, and compromised PCI’s email system and employee and customer information, and allowed cyber criminals to access $1 million in customer funds.

    Read the Order

    Need a Data Privacy, Protection, and Security expert?

    If you are in need of an expert with experience in data privacy and data security disputes, we invite you to consider DisputeSoft.