A new warning from the Financial Business and Consumer Solutions (FBCS) disclosed that roughly 2 million people may have compromised their data due to a cyber breach that started on February 14, 2024.

FBCS, a nationally registered debt collection firm in the United States, specializes in debt collection from utilities, consumer credit, healthcare, student loans, commercial, auto loans, leases, and other sources.

(Photo: Clint Patterson from Unsplash)

According to a sample of a data breach notification that it shared with the authorities late last week, the company found on February 26, 2024, that unauthorized actors had accessed its network since February 14, 2024.

According to the filing, there are 1,955,385 affected persons.

According to Bleeping Computer, possibly compromised information includes a user's full name, account information, Social date of birth, Security Number (SSN), and the user's driver's license number or ID card.

Read Also: Unprecedented Surge in Credential Stuffing Hacks Observed by Okta 

FBCS' Security Measures

According to FBCS, to ascertain the full extent and nature of the occurrence, the affected environment was promptly safeguarded, and an investigation was initiated with the help of outside computer forensics experts.

The study found that the environment was vulnerable to unauthorized access between February 14 and February 26, 2024. During that time, the unauthorized actor could view or obtain specific information on the FBCS network.

FBCS conducted a thorough analysis of the data at risk to determine whether any sensitive information would be impacted and to whom it might have been tied.

FBCS discovered that specific personal data supplied by client organizations might have been seen or stolen during the event.

FBCS clarified that no indications of information connected to this incident were observed being misused. As soon as the occurrence was detected, FBCS stated it acted swiftly to evaluate the security of FBCS systems, look into and address the situation, and locate any potential victims.

Additionally, FBCS reported the incident to federal law enforcement, and the agency is also attempting to integrate more security measures in a recently constructed setting.

Rise in Cyber Breaches

Data breach incidents continue to rise throughout the year as society integrates IT infrastructures more and more.

According to sources, nearly one in three Americans experienced online financial fraud in 2023. Of those who reported being victims, 36% were between the ages of 35 and 54, while only 22% were between the ages of 18 and 34.

Global cybercrime costs surpassed $8 trillion in 2023; by 2025, it is expected to reach $10.5 trillion. The average financial loss enterprises incurred from cybercrime in 2023 was $1.3 million.

Data breaches cost an average of $4.45 million in all industries combined, with the healthcare sector having the highest average cost at $10.93 million. 

Related Article: Medical Tech Company LivaNova Reports Cyberattack Compromising US Patients Data 

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