Academy Mortgage Faces Disruptions; Employee and Borrower Data Compromised

  • By Steven
  • Jan 17, 2024

Academy Mortgage Corporation Breach

Academy Mortgage Corporation (AMC) is a nationwide mortgage lender and home loan estate professional group. The organization has over 200 branches throughout the US and numerous loan, mortgage, and financing options. In March 2023, AMC officials discovered a breach within their system network; the threat actor accessed and deactivated some of their securities, putting employees and borrowers at risk for compromised data. According to the event’s published breach filings, a quarter of a million individuals may now have compromised data.

How Did the Attack Occur? 

The consumer sample notices published by the Main Attorney General state that an unauthorized party accessed AMC’s network; soon after, the threat actor began disabling systems. Although officials discovered and stopped the attack, they could not stop the actor from accessing employee and borrower data. The public knowledge about the attack itself stops there, with no indication of how the assailant made the attack possible. However, the Maine breach filing suggests the event was an external data breach, pointing speculation to remote access. The assailants may have accessed the network through a side door or system vulnerability; alternatively, they may have used an SQL injection to jump into the network directly. 

What Information Was Viewed or Stolen? 

The threat actor of this event may have compromised the data of AMC employees and specific borrowers. Regarding borrowers, those at risk for data exposures are those who have applied for a mortgage or have a spouse or guardian who have applied. Current and former employees may have their full names, birthdays, and Social Security Numbers exposed. Meanwhile, applicants and borrowers may have their full names and Social Security Numbers compromised. Whether the victim was an employee or borrower from AMC, they are at an increased risk for data misuse from this breach. 

How Did Academy Mortgage Corporation Admit to the Breach? 

The Maine breach filing and the sample notices suggest the attack happened on or around March 21st, 2023. According to these sources, officials detected and stopped the attack on the same day, although they could not prevent the data from being exposed. Since then, officials have presumably worked to ascertain the event’s consequences, culminating in AMC sending notices to consumers and state institutions around December 20th. 

What Will Become of the Stolen Information? 

The assailants have potentially had the data of victims for ten months; in that time, they could have sold it on the dark web for quick cash. They could have used it for fraud, impersonating their victims to open or alter accounts under their name. They could have used it for phishing schemes, tricking organizations into revealing sensitive data like financial information. However, if the assailants choose to use the stolen data, victims still have time to protect themselves from the potential consequences.

What Should Affected Parties Do in the Aftermath of the Breach? 

The Maine breach filing lists 284,443 victims of this breach; some individuals may have experienced account breaches when their data was compromised, while others may not see an impact for years. Regardless of whether the assailants have misused the data or saved it for later, victims can protect themselves. Account monitoring services alert account holders to all suspicious activity the moment it happens within an account; that allows victims to react immediately to misuse—mitigating damage and returning to normalcy faster than ever. 

About the Author
IDStrong Logo

Related Articles

Instagram Vulnerability Allowed Hackers Access to Control Your Phone

Security experts Check Point Research discovered a critical vulnerability while examining Instagra ... Read More

Alien Malware Infects More than 226 Mobile Apps and Steals Bank Data

As reported on September 24, 2020, by ZDNet and ThreatPost, a new strain of malware named “A ... Read More

Universal Health Systems Hit by Ransomware Attack

Universal Health Systems (UHS), a Fortune 500 company owning more than 400 hospitals across the co ... Read More

Exchange Server Bug Exposes a Big Risk to Hackers

Months after Microsoft released a patch to fix a serious flaw in MS Exchange Server, more than 61% ... Read More

Clients’ Bank Data Exposed in Blackbaud Ransomware Attack

Blackbaud software was victim to a ransomware attack last May, and new information suggests that c ... Read More

Latest Articles

Cementitious Vendor—CGM—Network Compromised by 315k Data Breach

Cementitious Vendor—CGM—Network Compromised by 315k Data Breach

Based in Philadelphia, Pennsylvania, CGM is a nationwide cementitious vendor for industries and construction projects. They are a leader in manufacturing, labeling, and distributing custom cement and patching products.

Chattanooga Heart Institute Updates on 2023 Network Cyber Attack

Chattanooga Heart Institute Updates on 2023 Network Cyber Attack

Patients with cardiovascular issues may appear in one of the Chattanooga Heart Institute (CHI) facilities in Tennessee and Georgia.

Oklahoma’s Largest Non-Profit Health System Breached; 2.3 Million Exposures

Oklahoma’s Largest Non-Profit Health System Breached; 2.3 Million Exposures

INTEGRIS Health is the largest non-profit healthcare network in Oklahoma and surrounding regions. The network includes medical and surgical centers, hospitals, emergency rooms, hospice options, addiction recovery programs, and a holistic approach to health and wellness.

Featured Articles

How to Buy a House with Bad Credit

How to Buy a House with Bad Credit

Buying your own home is the American Dream, but it might seem out of reach to those with bad credit. However, the good news is, if your credit is less than perfect, you do still have options and in most cases, can still buy a home.

How Secure Is Your Password? Tips to Improve Your Password Security

How Secure Is Your Password? Tips to Improve Your Password Security

Any good IT article on computers and network security will address the importance of strong, secure passwords. However, the challenge of good passwords is that most people have a hard time remembering them, so they use simple or obvious ones that pose a security risk.

Top 10 Senior Scams and How to Prevent Them

Top 10 Senior Scams and How to Prevent Them

Senior scams are becoming a major epidemic for two reasons. First, seniors often have a lot of money in the bank from a life of working hard and saving.

Free Identity Exposure Scan
Instantly and Securely Check if Your Personal Information is Exposed on the Dark Web or Sold by Data Brokers
Please enter first name
Please enter last name
Please select a state
Close
Free Identity Threat Scan
Instantly Check if Your Personal Information is Exposed
All fields below are required
Please enter first name
Please enter last name
Please enter a city
Please select a state
Please enter an age
Please enter an email address
Close