NCB Management Services, a US-based debt collector, suffered a data breach that exposed the financial data of nearly 1.1 million users, including payment card numbers with security codes.
At the same time, the company has hinted at the possibility of paying a ransom to the attackers responsible for the breach. NCB took three days to realize that its systems had been breached, and breach notification letters are now being sent to affected users.
Furthermore, the unauthorized party accessed confidential client account information, but NCB claims there has been no reported misuse of the data thus far. The investigation conducted by the debt collector revealed that attackers accessed financial account numbers or payment card numbers along with security codes, access codes, passwords, or PINs associated with the accounts.
Stolen financial data is often sold on dark web forums, where criminals use it to mask their activities and steal victims’ identities.
Additionally, NCB’s letters to potential victims suggest that the company has obtained assurances that the unauthorized party no longer has access to their data, implying that they may have opted to pay a ransom in exchange for the stolen information.
However, cybersecurity experts and law enforcement agencies advise against complying with criminals’ demands, as it can make organizations more vulnerable to future attacks. NCB has promised affected users two years of identity theft monitoring services free of charge and recommends monitoring credit reports and account statements for any unauthorized transactions or incidents of suspected identity theft.
