FTC Finalizes TaxSlayer Financial Data Security Settlement

Online tax preparation service TaxSlayer LLC won a final approval from the FTC of its settlement of agency claims that it lacked adequate security procedures to protect client information.

In 2015, hackers accessed 9,000 TaxSlayer customer accounts, according to the FTC.

The Federal Trade Commission, which approved the pact Nov. 8, alleged that TaxSlayer violated the Gramm-Leach-Bliley Act’s (GLB) Safeguards Rule and Privacy Rule by failing to “protect the security, confidentiality, and integrity of customer information,” and that hackers were able to access 9,000 customer accounts.

The Safeguards Rule requires financial institutions to secure customer data. The Privacy Rule requires ...