Collaborate Disseminate
The reported scope of the Salt Typhoon hacks has expanded in recent days and weeks, from the incoming president to top U.S. officials.
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One of the more common ways cybercriminals cash out access to bank accounts involves draining the victim’s funds via Zelle, a “peer-to-peer” (P2P) payment service used by many financial institutions that allows customers to quickly send cash to friends and family. Naturally, a great deal of phishing schemes that precede these bank account takeovers begin with a spoofed text message from the target’s bank warning about a suspicious Zelle transfer. What follows is a deep dive into how this increasingly clever Zelle fraud scam typically works, and what victims can do about it. Continue reading The ‘Zelle Fraud’ Scam: How it Works, How to Fight Back
Financial tech company Plaid has reached a $58 million settlement agreement in a lawsuit where customers alleged that the company obtained and used their banking information without permission. Plaid’s service connects customer banking accounts to financial apps like Venmo and Robinhood. The plaintiffs claimed that Plaid misled them and violated their privacy by obtaining data from their financial accounts without consent, getting their bank login information through a deceptive interface meant to look like customers’ own bank login screens and selling their transaction histories. Under the settlement agreement, still subject to court approval, Plaid must also delete some data from its systems, minimize the data it stores, improve disclosures of how it uses data and maintain disclosures and websites about its security practices. “We do not, nor have we ever, sold data,” a Plaid spokesperson said. “We make our role and practices clear, and provide services that give consumers control […]
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A Change.org petition is demanding stronger accountability for Equifax in the 2017 leak that affected 150 million customers. Continue reading 200K Sign Petition Against Equifax Data Breach Settlement
Credit monitoring firm Equifax has agreed to pay up to $700 million to settle investigations from U.S. regulators and state attorneys stemming from the 2017 data breach that compromised personal information about 147 million people. The penalty includes payments of $425 million to affected customers, $100 million in payments to 48 states, the District of Columbia and Puerto Rico, and also pay $100 million to resolve a federal investigation from the U.S. Consumer Financial Protection Bureau, which examined the company in cooperation with the Federal Trade Commission, regulators said Monday. The deal is the largest settlement resulting from a data breach in U.S. history. It comes nearly two years after Equifax revealed hackers had accessed U.S. citizens’ Social Security numbers, credit data, addresses, birth dates and some driver’s license numbers because of flaws in the company’s technology. Attorneys are scheduled to propose the deal to a court in Atlanta on […]
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Medical testing giant LabCorp. said today personal and financial data on some 7.7 million consumers were exposed by a breach at a third-party billing collections firm. That third party — the American Medical Collection Agency (AMCA) — also recently notified competing firm Quest Diagnostics that an intrusion in its payments Web site exposed personal, financial and medical data on nearly 12 million Quest patients.
Just a few days ago, the news was all about how Quest had suffered a major breach. But today’s disclosure by LabCorp. suggests we are nowhere near done hearing about other companies with millions of consumers victimized because of this incident: The AMCA is a New York company with a storied history of aggressively collecting debt for a broad range of businesses, including medical labs and hospitals, direct marketers, telecom companies, and state and local traffic/toll agencies. Continue reading LabCorp: 7.7 Million Consumers Hit in Collections Firm Breach
Later this month, all of the three major consumer credit bureaus will be required to offer free credit freezes to all Americans and their dependents. Maybe you’ve been holding off freezing your credit file because your home state currently charges a fee for placing or thawing a credit freeze, or because you believe it’s just not worth the hassle. If that accurately describes your views on the matter, this post may well change your mind. Continue reading In a Few Days, Credit Freezes Will Be Fee-Free
Equifax’s chief executive was formally invited Wednesday to testify Oct. 3 before Congress by top members of the House Energy and Commerce Committee. The invitation to Chairman and CEO Richard F. Smith comes less than a week after Equifax, a massive multinational credit reporting company, announced a data breach affecting up to 143 million Americans. “We look forward to hearing directly from Mr. Smith on this unprecedented breach that has raised serious questions about the security of consumers’ personal information,” full committee Chairman Greg Walden, R-Ore., and Digital Commerce and Consumer Protection Subcommittee Chairman Bob Latta, R-Ohio, said in a statement. “We know members on both sides of the aisle appreciate Mr. Smith’s willingness to come before the committee and explain how our constituents might be impacted and what steps are being taken to rectify this situation.” The committee has jurisdiction over the Federal Trade Commission and Consumer Financial Protection Bureau, two of the agencies […]
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