Intesa Sanpaolo is under investigation by prosecutors in Italy after a former employee of the country's largest bank is responsible for a breach of account data of thousands of its customers, Italian news agency ANSA reported on Monday .
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Intesa said in a statement that it had not received formal notification that it was under investigation. Prosecutors in the southeastern city of Bari, who are investigating the data breach at Intesa, declined to comment.
Prosecutors opened an investigation into the incident after Intesa, which first suspended and then fired the employee, notified the Italian data protection authority and filed a complaint.
Intesa said it was able to alert authorities with "an extensive and precise analysis that provided a clear picture of the events."
On Sunday, the bank publicly apologized after it was revealed that the accounts of around 3,500 customers, including Prime Minister Giorgia Meloni and former Prime Minister Mario Draghi, may have been compromised.
The name of the dismissed employee responsible for the data breach at Intesa has not been made public and it is unclear why the person had access to the accounts.
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Prosecutors in Bari initially investigated the former employee for improper access to computer systems and attempted theft of information related to state security. They are now also looking into whether Intesa failed to notify authorities immediately after discovering the apparent breach, ANSA reported.
Under Italian law, a company can be held liable for a range of alleged offences committed by staff . However, being placed under investigation does not necessarily mean that it will lead to charges or a potential trial.
While the employee was authorized to access account data, given his role within the bank, system detected an excessive number of data requests, which led to a suspicion of a breach, triggering an internal investigation.
Saying it was "deeply sorry" for what happened, Intesa said there was no cybersecurity problem.
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Data breaches are a growing threat in our digital world, affecting organizations and individuals on a daily basis. These breaches occur when unauthorized individuals gain access to sensitive information, such as personal data, financial information, or trade secrets. The impact of a data breach can be devastating, leading to financial losses, reputational damage, and legal consequences. It is essential for organizations to implement strict security measures and for individuals to take precautions to protect their personal information in order to reduce the risk of a data breach.
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Source: finance.yahoo
