Loan
Fintech platform Sageworks taken offline after suspected cyberattack
Financial technology company Abrigo has restored its Sageworks risk management application, except for borrower-facing capabilities, following an outage triggered by “irregular activity” in its environment. On October 30, the company began emergency maintenance and took the Sageworks application offline to investigate suspicious activity detected earlier that day, with the outage continuing through the weekend. Abrigo […]
PayPal discloses data breach that exposed user info for 6 months
PayPal is notifying customers of a data breach after a software error in a loan application exposed their sensitive personal information, including Social Security numbers, for nearly 6 months last year. The incident affected the PayPal Working Capital (PPWC) loan app, which provides small businesses with quick access to financing. PayPal discovered the breach on December 12, […]
UK govt backs JLR with £1.5 billion loan guarantee after cyberattack
The UK Government is providing Jaguar Land Rover (JLR) with a £1.5 billion loan guarantee to restore its supply chain after a catastrophic cyberattack forced the automaker to halt production. The loan guarantee is provided through the UK Export Finance’s Export Development Guarantee (EDG) program, which reduces the risk for lenders by covering the majority of […]