PayPal says 100 business users of loan app affected by data breach
TL;DR
PayPal reported a six-month data breach affecting about 100 business users of its Working Capital loan app, exposing personal info and causing fraudulent charges due to an app error.
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Source: Gov Info Security
Fintech giant PayPal said it discovered a data breach that lasted for six months, exposed some business customers' personal information and led to fraudulent charges. The company said about 100 customers were affected by the data exposure, which it tied to an "error" in its PayPal Working Capital loan application, which is designed to provide business financing of up to $200,000 for first-time borrowers and $300,000 for repeat borrowers. San Jose, Calif.-headquartered PayPal remains one of the world's dominant financial technology providers. The fintech processed $1.7 trillion in 2024, when it counted 434 million active accounts and reported $31.8 billion in net revenue, according to its latest annual report. Full Story