LoanDepot Cyberattack Exposes Sensitive Customer Data


LoanDepot, a prominent loan and mortgage company, has confirmed that nearly 17 million of its customers have fallen victim to a cyberattack, resulting in the theft of their personal information, including Social Security numbers. The company disclosed this alarming breach in a data breach notice filed with Maine’s attorney general’s office.

Key Takeaway

LoanDepot has confirmed that almost 17 million customers had their personal data, including Social Security numbers, stolen during a cyberattack, highlighting the severity of the breach and the potential impact on the affected individuals.

Details of the Breach

The stolen data encompasses a wide range of sensitive information, such as names, dates of birth, email and postal addresses, financial account numbers, and phone numbers. Notably, the compromised data also includes the Social Security numbers that LoanDepot had collected from its customers.

Impact and Response

The number of affected customers has risen from the initial estimate, with the cyberattack disrupting the company’s operations and leaving millions of customers unable to make payments or access their online accounts in the aftermath. The incident raises concerns about the potential misuse of the stolen data and the impact on the affected individuals.

Broader Cybersecurity Concerns

LoanDepot is not the only financial institution to have been targeted by cybercriminals in recent months. Other loan and mortgage companies, including Mr. Cooper, have also faced similar breaches, underscoring the growing threat posed by cyberattacks in the financial sector.

It remains to be seen how LoanDepot will address the aftermath of the cyberattack and whether it will have a material impact on the company’s financial condition. The incident serves as a stark reminder of the pressing need for robust cybersecurity measures to safeguard sensitive customer information.

This news was originally published on January 22, 2024, and updated on February 26, 2024, with additional details about the stolen customer data.

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