Huge fine of nearly U.S. $2 million levied on Mexican bank after data breach

Image Source: Google Images

Image Source: Google Images

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.

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