loanDepot Data Breach Compromises Sensitive Information of 16.6 Million Customers
- Written by Shipra Sanganeria Cybersecurity & Tech Writer
- Fact-Checked by Justyn Newman Former Lead Cybersecurity Editor
One of America’s leading non-bank mortgage providers, loanDepot, said that the recent security incident exposed the personal information of nearly 16.6 million customers.
Described as a ransomware attack, the January 8th cyber incident not only forced the company to shut down some of its IT systems, but it also adversely impacted its normal business operations.
‘The Company has made significant progress in restoring our loan origination and loan servicing systems, including our MyloanDepot and Servicing customer portals,’’ it said.
In a filing with the US Securities and Exchange Commission (SEC), loanDepot disclosed further details about the attack. It said that unauthorized hackers had gained access to some of its systems and encrypted data, including stealing personal information of millions of customers.
‘’Though our investigation is ongoing, at this time, the Company has determined that the unauthorized third-party activity included access to certain Company systems and the encryption of data.’’
‘’Upon detecting unauthorized activity, the Company promptly took steps to contain and respond to the incident, including launching an investigation with assistance from leading cybersecurity experts, and began the process of notifying applicable regulators and law enforcement.,’’ loanDepot said.
Although it did not share details about the type of customer data accessed, loanDepot assured authorities that it would notify the impacted individuals and also provide free credit monitoring and identity protection services.
The company also established a new microsite at loandepot.cyberincidentupdate.com to inform various stakeholders about additional operational updates.
Additionally, loadDepot said that it would continue with its investigation to determine the material impact of the incident.
With the increasing attacks on financial institutions, the risks of having their personal information stolen and misused has increased for customers. Moreover, having personally identifiable information (PII) of individuals, allows hackers to commit various kinds of crimes, including phishing attacks, identity and financial thefts.
Major Water Suppliers in the UK and US Targeted in Ransomware Attacks
- Written by Shipra Sanganeria Cybersecurity & Tech Writer
- Fact-Checked by Justyn Newman Former Lead Cybersecurity Editor
In two separate cybersecurity incidents, utilities companies Southern Water (UK) and Veolia in the US reported suffering data breaches due to ransomware attacks.
Southern Water provides water services to 2.5 million customers and wastewater services to 4.5 million customers across Southern England.
On January 23, in a statement, the company revealed that its data had been stolen and a few of them published. ‘’We are aware of a claim by cyber criminals that data has been stolen from some of our IT systems. We had previously detected suspicious activity, and had launched an investigation, led by independent cyber security specialists,’’ the notice read.
However, it emphasized that its customer relationships or financial systems had not been impacted, and its services were operating as normal.
The statement came soon after the notorious ransomware gang, Black Basta published a sample of the stolen data on its TOR website. It claimed to have exfiltrated 750 GB of files from the company, including users’ personal information and corporate documents.
It has also set a ransom deadline for January 29, and threatened to publish the data unless its demands are met.
Meanwhile, Southern Water has launched an internal investigation and reported the incident to the relevant regulatory agency and the UK government. It also reassured its customers that if evidence was found of a data breach, the impacted employees and customers would be notified as per the company’s obligations.
On January 19, Veolia North America, a major player in the US water services market, revealed that ‘’some software applications and systems in its Municipal Water division’’ were impacted by a ransomware attack. Few of its customers’ also experienced delays in paying bills, while some had their data accessed by hackers.
Nevertheless, the company stated that the incident was limited to its ‘’internal back-end systems’’ and did not impact its water or wastewater treatment operations.
Both the incidents show the growing cybersecurity threat to critical infrastructure companies across the world.
