Menu

  • Alerts
  • Incidents
  • News
  • APTs
  • Cyber Decoded
  • Cyber Hygiene
  • Cyber Review
  • Cyber Tips
  • Definitions
  • Malware
  • Threat Actors
  • Tutorials

Useful Tools

  • Password generator
  • Report an incident
  • Report to authorities
No Result
View All Result
CTF Hack Havoc
CyberMaterial
  • Education
    • Cyber Decoded
    • Definitions
  • Information
    • Alerts
    • Incidents
    • News
  • Insights
    • Cyber Hygiene
    • Cyber Review
    • Tips
    • Tutorials
  • Support
    • Contact Us
    • Report an incident
  • About
    • About Us
    • Advertise with us
Get Help
Hall of Hacks
  • Education
    • Cyber Decoded
    • Definitions
  • Information
    • Alerts
    • Incidents
    • News
  • Insights
    • Cyber Hygiene
    • Cyber Review
    • Tips
    • Tutorials
  • Support
    • Contact Us
    • Report an incident
  • About
    • About Us
    • Advertise with us
Get Help
No Result
View All Result
Hall of Hacks
CyberMaterial
No Result
View All Result
Home News

Fidelity Bank Denies Data Breach Allegations

August 21, 2024
Reading Time: 2 mins read
in News

Fidelity Bank, a Nigerian institution, has come under scrutiny after being accused of violating data privacy regulations. The controversy began when a customer claimed the bank used their personal information without consent to open an account. Following an investigation, the Nigerian Data Protection Commission (NDPC) issued a ₦555.8 million fine, stating that Fidelity Bank had processed personal data without obtaining proper consent, particularly through its mobile app. However, the bank has firmly denied these allegations, asserting that no breach occurred and that the account opening process was never completed due to missing documentation.

The NDPC maintains that Fidelity Bank breached data protection laws by using third-party data processors who were also not compliant with regulations. The commission stated that the bank failed to provide an adequate remedial plan, despite repeated warnings and over ten correspondences between July and December 2023. According to the NDPC, the breaches involved improper use of tools like cookies and processing customer data without informed consent. Fidelity Bank was also criticized for not ensuring that its vendors adhered to proper data privacy standards.

In response, Fidelity Bank has argued that its internal investigation found no evidence of a data breach and emphasized that it takes data privacy seriously. The bank stated that it blocked and closed the account in question when the required documentation was not provided, ensuring that it was never operational. Fidelity Bank also expressed a willingness to continue discussions with the NDPC to resolve the issue amicably while reiterating its commitment to protecting customer data.

The outcome of this dispute has significant implications for Nigeria’s banking sector, particularly as it relates to data privacy compliance. If Fidelity Bank is found guilty, it could face further penalties and reputational damage. The case may also serve as a precedent for how other financial institutions handle personal data, prompting them to tighten their data protection practices to avoid similar legal challenges. As Nigeria’s digital economy grows, ensuring compliance with data privacy regulations will become increasingly important for businesses.

 

Reference:

  • NDPC Fines Fidelity Bank ₦555,800,000
Tags: August 2024Cyber NewsCyber News 2024Cyber threatsCybersecurityFidelity BankNigeriaNigerian Data Protection Commission (NDPC)
ADVERTISEMENT

Related Posts

3.5K Sites Hijacked to Secretly Mine Crypto

Darktrace Buys Mira Security

July 22, 2025
3.5K Sites Hijacked to Secretly Mine Crypto

UK Sanctions APT28 for MS Cloud Attack

July 22, 2025
3.5K Sites Hijacked to Secretly Mine Crypto

The Financial Toll Of Dark Web Travel Sites

July 22, 2025
Free Decryptor Released for Phobos and 8Base

Free Decryptor Released for Phobos and 8Base

July 21, 2025
Free Decryptor Released for Phobos and 8Base

FBI Traces BTC to Armenian Ransomware Hacker

July 21, 2025
Free Decryptor Released for Phobos and 8Base

Roblox’s AI Safety Tools Spark Teen Concerns

July 21, 2025

Latest Alerts

CrushFTP Warns of Exploit in the Wild

7-Zip Flaw Lets Malicious Files Crash PCs

3.5K Sites Hijacked to Secretly Mine Crypto

PoisonSeed Hackers Bypass FIDO Keys

Microsoft Patch Fixes SharePoint RCE Issue

Microsoft AppLocker Bug Enables Bypass

Subscribe to our newsletter

    Latest Incidents

    Poland Probes Air Traffic Control Issue

    CoinDCX Says $44M Stolen from Reserves

    Dior Alerts Customers After Cyberattack Hit

    ATM Jackpotting in Michigan Nets $107K

    Ransomware Hits Korea’s Top Insurer

    Arcadia Finance Hack Steals $3.5M in WETH

    CyberMaterial Logo
    • About Us
    • Contact Us
    • Jobs
    • Legal and Privacy Policy
    • Site Map

    © 2025 | CyberMaterial | All rights reserved

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In

    Add New Playlist

    No Result
    View All Result
    • Alerts
    • Incidents
    • News
    • Cyber Decoded
    • Cyber Hygiene
    • Cyber Review
    • Definitions
    • Malware
    • Cyber Tips
    • Tutorials
    • Advanced Persistent Threats
    • Threat Actors
    • Report an incident
    • Password Generator
    • About Us
    • Contact Us
    • Advertise with us

    Copyright © 2025 CyberMaterial