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Voya Financial, Inc. , announced today that it has been selected as the new recordkeeper and service provider for the Farm Credit Foundations 401 Retirement Savings Plan. With a vision to be a...
APRA says insurer has work to do following breach.
![Medibank [ASX:MPL] Faces $250 Million Penalty for Data Breach - Daily Reckoning Australia - Vimarsana News](https://vimarsana.com/images/vimarsana-bigimage.jpg)
Medibank faces a $250 million capital reserve requirement as punishment by the APRA for last October’s massive data breach in which the data of 9.7 million customers was stolen. Shares have remained resilient to the news, up by 1.71%, trading at $3.56 per share.
APRA claims fine reflects “weaknesses identified in Medibank’s information security environment”.
The banking regulator requires the health insurer to hold additional capital, and flagged potential repercussions to executive pay after a review of its massive data breach last year.