NCB Management Services Hit By a Cyber Attack Exposing Data for 500,000 Consumers
Table of Contents
- By Steven
- Apr 04, 2023
NCB Management Services is a debt-buying company that acquires debt from other businesses and attempts to collect that debt. The organization works with many major companies, such as Bank of America, and it suffered from a serious data breach recently. Since NCB works with so many major companies, customers of those companies can be put at risk of data loss when their data is lost.
How Did the Attack Occur?
No specific details are available, but we know the NCB attack occurred on February 1, 2023, and that the intrusion into the company's data network was discovered on February 4, 2023. It wasn't until March 8th that the data stolen was identified, and an actual data breach was confirmed. NCB Management Services never explained how the data breach occurred, but we can assume it was either caused by a phishing attack or it was the result of a network vulnerability. Either way, one or more hackers got into the network and did serious damage.
What Information Was Viewed or Stolen?
Customers with data stored in Bank of America's system had a significant amount of information exposed in this data breach. Their credit card numbers, account numbers, bank balance, and routing numbers were all made available to the attackers when they broke into NCB's file systems. It's likely that some less important information, such as first and last names, home addresses, and email addresses, were also exposed in the breach, but we don't know for sure.
How Did NCB Admit to the Breach?
NCB informed the Maine Attorney General of the cyber attack and the specific types of information stolen in the attack. The company didn't explain how the attack was possible but did make it clear who was impacted by the attack and what issues could result from the attack. The organization is sending out notifications to anyone impacted by the attack because personal data was lost in the breach. If you receive a notice from the company, you know you were hit by the breach.
What Will Become of the Stolen Information?
The stolen information is going to be used to commit fraud or sold off to someone else that wants to commit fraud. The hackers steal information to make a profit from it. They will do that by opening lines of credit, taking out loans, and making purchases with the money. They might sell the information to someone else to make a quick profit instead. Either way, if your information was shared in the cyber attack, you should be concerned about suffering from serious credit losses.
What Should Affected Parties Do in the Aftermath of the Breach?
If you receive a notice from NCB informing you that your data was stolen during the breach, take immediate action to protect your data. Consider investing in a credit protection or credit monitoring service, putting a freeze on your credit, and monitoring your accounts closely. If you take immediate action to protect yourself, you'll be able to see when things are going wrong and when your information is being misused.