ACI WORLDWIDE MESSED UP THIS TEST, BIG TIME ….
ACI Worldwide, a payment processing company which reportedly serves 9 of the top 10 banks, worldwide, recently agreed to pay $10 million to a coalition of some 48 attorneys general, including New York Attorney General Letitia James, for its 2021 “testing error,” which resulted in the “unauthorized withdrawal” of some $2.3 billion from the accounts of mortgage holders – including $172 million from some 27,000 New Yorkers.
Apparently, there were defects in the company’s infrastructure and privacy and data security procedures that led to the unauthorized transactions on a mass scale.
In a press release, Attorney General James noted that “Hundreds of thousands of homeowners nationwide and thousands of New Yorkers had money wrongfully withdrawn from their accounts because of ACI’s failure …. Companies must be more diligent when handling consumers’ data and payment information to not cause worry and panic among consumers. I thank my fellow attorneys general for their partnership to hold ACI accountable for the harm and stress it caused homeowners.”
New York will receive $575,000 of those settlement proceeds.
Looks like ACI sure failed that test ….
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