OneMain Financial Details

OneMain Financial

Evansville, Indiana • employees • Financial Services

Industry

Financial Services

Security Incidents

OneMain Holdings, Inc. is an American financial services holding company headquartered in Evansville, Indiana, with central offices throughout the United States.

Security Incidents

OneMain Financial Breach of May 2023

Severity Score

Moderate

Type

Unknown

Summary

The OneMain Financial security incident in May 2023 resulted in the company paying a $4.25 million penalty in New York state for cybersecurity lapses. The New York Department of Financial Services found that OneMain Financial Group had ignored security flaws that led to data breaches. The violations included improperly storing passwords and not adequately managing risk from third-party data storage. The incident highlighted the importance of robust cybersecurity practices in financial institutions. The fines served as a warning to other organizations to prioritize and enhance their security me...
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Severity

The breach was severe as OneMain Financial Group LLC was fined $4.25 million by the New York State Department of Financial Services for violations of DFS's Cybersecurity Regulation, including failures in managing third-party service provider risk, access privileges, and application security development.

Impact

The breach impacted OneMain Financial Group LLC financially with a $4.25 million penalty imposed by the New York State, highlighting the importance of proper cybersecurity measures and risk management to avoid regulatory fines and maintain data security.