On March 9, 2023, the Securities and Exchange Commission (“SEC”) announced that Blackbaud Inc. (“Blackbaud”) agreed to pay $3 million to settle charges for alleged misleading.
Blackbaud, a South Carolina-based provider of administrative, donor management, and CRM software to education and nonprofit organizations, has been fined $3 million by the U.S. Securities and Exchange Commission "for making misleading disclosures about a 2020 ransomware attack that impacted more than 13,000 customers,” the federal agency said.
Blackbaud, a South Carolina-based provider of administrative, donor management, and CRM software to thousands of K–12 private schools, higher education institutions, and nonprofits, has been ordered by the U.S. Securities and Exchange Commission to pay a fine of $3 million to “settle charges for making misleading disclosures about a 2020 ransomware attack that impacted more than 13,000 customers,” the federal agency said in a news release.
SEC announced settlement with Blackbaud Inc, a software provider, for making misleading disclosures about 2020 ransomware attack that impacted more than 13,000 of its customers. Recent charges continue activity from SEC Enforcement Division Crypto Assets and Cyber Unit
SEC has fined Blackbaud donor data management platform used widely by nonprofits $3 million dollars for misleading disclosures in connection with 2020 ransomware attack that impacted 13000 customers. Blackbaud told customers did not compromise bank account information SSNs.