Egypt’s FRA pursues criminal charges and suspends consumer finance firm over data breach

The Financial Regulatory Authority (FRA) has initiated criminal proceedings, revoked a chief executive’s licence, and imposed a one-month ban on new contracts for a consumer finance company found to have exploited parents’ data to issue unauthorised loans for an international school. The sweeping decisions, approved by Authority Chairperson Islam Azzam, followed a four-day intensive […] The post…