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Data Breach Exposes Information of Millions of Loan and Mortgage Customers

It was revealed recently that more than 24 million financial documents, complete with information on loans and mortgages from some of the country’s biggest banks, have been found online after a security lapse on the server containing the information.

The server had more than 10 years worth of data, containing loan and mortgage agreements, repayment schedules and other highly sensitive financial and tax documents, revealing a complete insight into a person’s financial life.

Files were exposed from Citigroup, HSBC Life Insurance, Wells Fargo, CapitalOne and some U.S. federal departments, including the Department of Housing and Urban Development.

What Does This Mean?

This latest breach shows that your information and that of your customers’ is constantly vulnerable to cybercriminals throughout the world who seek to exploit those vulnerabilities and sell the information to the highest bidder. Exposed customer data is one of the biggest threats your business is currently facing.

What You Can Do

On an individual level, if you have ever had financial dealings with any of these companies, it’s safe to assume your data is at risk. We recommend locking your credit with all four of the major credit reporting bureaus. This is a free solution and can be done by clicking here.

If you’re a business owner who saves customer data, you need to ensure you have that information stored in a way that makes it impossible to obtain. If you don’t know what that means or how to do that, you may be in need of outside IT help from a company like BKS Systems.

Call us today if we can answer any questions regarding safely storing customer and employee data. 630.357.8385

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