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Infosys Limited ( (IN:INFY) ) has issued an announcement.
Infosys Limited reported that its subsidiary Infosys McCamish Systems (IMS), part of Infosys BPM, has reached a Consent Order with the South Dakota Division of Insurance in relation to concerns over notification and response timelines tied to a 2023 data breach. The regulator had raised issues that IMS may have breached South Dakota codified laws by not responding to a request for information within 20 days, but the matter has been settled via a Consent Order that expressly notes there is no admission of any legal violations. As part of the resolution, IMS has paid a monetary penalty of $30,000, signaling a limited financial impact while allowing Infosys to close out a regulatory compliance issue in its U.S. insurance services business and move forward without further enforcement action in this matter.
More about Infosys Limited
Infosys Limited is a global information technology services and consulting company that provides business process management, digital transformation, and IT outsourcing solutions across sectors including financial services, insurance, manufacturing, and public services. Through subsidiaries such as Infosys BPM and Infosys McCamish Systems, it offers specialized platforms and services to insurance and financial institutions, particularly in the U.S. market.
Average Trading Volume: 482,491
Technical Sentiment Signal: Strong Buy
Current Market Cap: 6648B INR
Find detailed analytics on INFY stock on TipRanks’ Stock Analysis page.