TMX Finance Corporate Services data breach made big news!
TMX Finance Corporate Services, the parent company of lenders TitleMax, TitleBucks, and InstaLoan, suffered a significant data breach in which the sensitive information of nearly 5 million people was stolen.
The breach was first detected on February 13, 2023, when TMX Finance noticed suspicious activity on its systems. The company immediately retained global forensic cybersecurity experts to investigate the incident.
The investigation revealed that the earliest known breach of its systems began in early December 2022.
Consumer data may have been exfiltrated between February 3 and February 14, 2023.
In total, personal and financial information belonging to 4,822,580 consumers, including current and former TitleMax, TitleBucks, and InstaLoan customers, is believed to have been compromised.
The compromised information may have included consumers’ names, dates of birth, Social Security numbers, passport numbers, driver’s license numbers, tax ID numbers, federal/state ID card numbers, financial account details, phone numbers, home addresses, and email addresses.
A lawsuit filed against TMX alleges that the company stored this data on its network in an unencrypted, internet-accessible format.
In response to the breach, TMX Finance has implemented additional security measures such as additional endpoint protection and monitoring and resetting all employee passwords. The company has also notified the FBI about the data breach.
A proposed class action was filed in Georgia federal court against TMX Finance Corporate Services on March 31, 2023. The case alleges consumers’ data was stolen as a result of negligent and/or careless acts and omissions on the part of TMX Finance.
Despite the ongoing investigation and legal action against TMX Finance Corporate Services Inc., the company believes that the incident has been contained.
However, this incident serves as a stark reminder of the importance of robust cybersecurity measures and practices to protect sensitive consumer information.