Identity Crisis: 14 Million Individuals at Risk After Mortgage Lender’s Data Breach

Mr Cooper, the private mortgage lender, has now admitted almost 14.7 million individuals’ private data has been stolen in a previous IT security breach, which resulted in the theft of their addresses and bank account numbers, but it is estimated the company will have to spend at least $25 million to repair the problem. 

It has been reported by Mr. Cooper that unknown threats intruded into its network on Oct. 31, causing the network to be immediately and completely shut down. However, the hacker managed to gain access to files that contained sensitive information about both former and current customers as well as co-borrowers despite the quick response protocol that was designed to protect against unauthorized access to customer information. 

It has been determined that cybercriminals have accessed and stolen the personal information of 14.6 million homeowners as a result of a lengthy investigation to determine the extent of the breach.

It was disclosed by the financial firm in October that there had been an incident involving its network. 

At first, it was said the incident was isolated and didn’t affect the systems or technology of the firm’s clients or partners. The mortgage giant revealed that the scope of the cyberattack was much worse than what it had originally believed. 

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