Nearly 500,000 Bank of America Customers Hit By Data Breach on Debt Collector

  • By Steven
  • Published: Apr 19, 2023
  • Last Updated: Apr 19, 2023

Bank of America Data Breach

Bank of America is a massive worldwide financial institution that works with hundreds of thousands of customers. The organization relies on NCB Management to collect debts and manage past-due accounts. A recent data breach at NCB Management compromised nearly half a million Bank of America customers and may have put them at risk from fraud and identity theft. Get the details about this attack to learn what potential damage may have occurred and what you can do about it if your data is involved.

How Did the Attack Occur?

NCB management is relied upon to collect debts from Bank of America customers with past-due accounts. This debt collection company was attacked, and hackers gained entry into the company's files. Once inside, the attackers were able to gather a large amount of information about the account holders. That information can be exploited to do real harm to anyone involved, and it's a serious issue that customers should be aware of. The attack on NCB Management was first detected on February 4, 2023, and on March 8th, it was noted that Bank of America customers were involved specifically.

What Information Was Viewed or Stolen?

During the cyber attack, simple information like birthdates, home addresses, and full names was accessed. More personal data such as social security numbers, bank account balances, routing numbers, credit card information, and driver's license numbers were accessible as well. With so much data available for hackers to claim, anyone involved in this breach is at risk of being hurt by the data released. If you get a notice about the breach, you should take steps to protect yourself from harm.

How Did Business Admit to the Breach?

Bank of America put out a statement about the breach and began sending out personalized notices about the issue after it occurred. The notice was long after the breach was first detected, though, which means that customers were left without the information for an extended period that could have cost them damage without them realizing it.

What Will Become of the Stolen Information?

It's likely the stolen information will be used in an attempt to steal identities, open fraudulent accounts, and make purchases in the names of some of those customers. The data will also be shared for phishing attacks and may be sold to other people. There are many different ways to misuse stolen data, and hackers will try any of them they believe will be profitable. With so many potential risks to think about, you should monitor your credit closely and look for issues.

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

If you get a notice from NCB Management or Bank of America about this data breach, you should make use of the identity monitoring services offered by the company. These services are free and will protect you for between 12 and 24 months. Also, monitor your financial accounts and look for any fraudulent purchases in your name.

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