TMX Finance Suffers a Breach Exposing Nearly 5 Million

TMX Finance and related companies are all involved in crisis loans and emergency lending programs. The companies handle financial data for a huge number of individuals throughout the United States, and the different individuals involved with the company could be at risk for this reason. We recently learned that TMX Finance suffered from a data breach that exposed data for nearly 5 million people. News of the breach was just released, but victims may have been exposed for months now. 

How Did the Attack Occur?

We don't know what enabled the hackers to break into the TMX Finance account, but we know that attackers were able to break in between February 3rd and February 14th. During that two-week period, substantial data files were stolen from a large number of people. Approximately 5 million people overall were involved in this breach. There could be huge financial losses for those involved for this reason. 

What Information Was Viewed or Stolen?

The data that was released in this breach could be very harmful for each of the many people involved. The first and last names of each individual were exposed, along with either bank account or credit card information. The financial information taken is enough to expose some bank accounts or credit cards to misuse. It's a serious issue that could result in financial losses for the individuals involved. It's unclear if extra data was taken at this point, and we don't know if users are at risk for identity theft attacks or other serious issues such as phishing attacks. 

How Did x Admit to the Breach?

TMX sent a formal notice to the Maine Attorney General's office on August 23, 2023. In the notice it explains that nearly 5 million total US citizens were impacted by the breach and that the attack exposed financial and personal information. 

What Will Become of the Stolen Information?

While we cannot say for sure what the data will be used for. It's likely the attackers will leverage the stolen data in an effort to try and steal and expose money from the exposed financial accounts. The attackers may also try identity theft attacks, but it's unclear at this point if that's a possibility. Either way, anyone involved in this breach should take action to protect their information as much as possible. 

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

If you learn that your information is involved in this TMX data breach, you should take immediate action to guard your financial accounts and credit cards. If you know which accounts are involved in the breach, you should immediately change them. If you are unsure about which accounts are vulnerable because of this breach, you should just monitor your accounts for any odd changes. Watching your financial details closely will help alert you if anything odd changes. If you learn about any unexpected changes quickly, you can contact your bank or financial institution and request the account be frozen or changed for extra protection.