Financial Business and Consumer Solutions Details

Financial Business and Consumer Solutions

Hatboro, Pennsylvania • 100 employees • Finance and Insurance

Industry

Finance and Insurance

Security Incidents

Financial Business and Consumer Solutions is a U.S. nationally licensed debt collection agency. They manage and collect unpaid consumer credit, healthcare, auto loan, commercial, and student loan debt.

Security Incidents

Financial Business and Consumer Solutions Breach of Feb 2024

Severity Score

Significant to High

Type

Ransomware Attack

Summary

On February 14, 2024, Financial Business and Consumer Solutions (FBCS), a debt collection agency, experienced a significant data breach following unauthorized access to its internal network, which lasted until February 26, 2024. Initially, FBCS identified around 1.9 million individuals as being affected. However, by July, they revised this number upward to over 4.2 million as they continued to identify more affected individuals and notify them of their exposure.

The breach, which was initially thought to be a result of unauthorized network access, was later confirmed to involve a ransomware a...
Show more

Severity

The data breach at Financial Business and Consumer Solutions (FBCS) has tremendously escalated in severity, now impacting over 4.2 million individuals, a stark increase from initially reported figures. Sensitive information, such as full names, Social Security Numbers, dates of birth, and account details, was compromised. Furthermore, a ransomware attack was confirmed to have downloaded and encrypted data, impacting clients like Comcast and others.

Despite attempts to secure the environment swiftly, FBCS's delayed admission of the incident to its clients has added to the severity, underscori...
Show more

Impact

The incident at Financial Business and Consumer Solutions (FBCS) was both a data breach and a ransomware attack. Initially underestimated, the breach was eventually acknowledged to have compromised the sensitive personal information of over 4.2 million individuals. The exposed data varied among those affected but included critical details such as names, Social Security Numbers, dates of birth, account information, driver's license numbers, and in some cases, medical information.

Although FBCS initially noted the breach as unauthorized network access, subsequent revelations identified it as a...
Show more