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The mortgage lender likely has to spend money to investigate the breach, improve security and recover lost data. What’s more, servicers can face lawsuits or regulatory actions for the breach.
2024 Data Breach [ edit ] On January 8, 2024 LoanDepot, in a report to the Securities and Exchange Commission, reported that "an unauthorized third party" had accessed the company's phone and loan processing systems, with the earliest access having occurred on January 4, 2024.
Data breaches are happening at an alarming rate as more and more data is stored in the cloud. In 2023, 82% of breaches involved data stored in the cloud, according to an IBM report as reported by ...
This is a list of reports about data breaches, using data compiled from various sources, including press reports, government news releases, and mainstream news articles. The list includes those involving the theft or compromise of 30,000 or more records, although many smaller breaches occur continually.
Security breach notification laws or data breach notification laws are laws that require individuals or entities affected by a data breach, unauthorized access to data, [1] to notify their customers and other parties about the breach, as well as take specific steps to remedy the situation based on state legislature. Data breach notification ...
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The threat of data breach or revealing information obtained in a data breach can be used for extortion. [16] Consumers may suffer various forms of tangible or intangible harm from the theft of their personal data, or not notice any harm. [91] A significant portion of those affected by a data breach become victims of identity theft. [82]
Thousands of small business owners reeling from the aggressive measures taken to halt the spread of the coronavirus may have had their personal information exposed last month on a government ...