Financial Business and Consumer Solutions Data Breach Lawsuit Says Nearly 2M People Impacted by 2024 Cyberattack

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Financial Business and Consumer Solutions, Inc. (FBCS) faces a proposed class action lawsuit over a February 2024 data breach believed to have compromised the sensitive personal information of more than 1.9 million people nationwide.

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The 58-page Financial Business and Consumer Solutions data breach lawsuit accuses the Pennsylvania-based debt collection firm of failing to adequately safeguard its computer systems from unauthorized access.

Per the suit, the names, Social Security numbers, dates of birth, account details and potentially other personally identifiable information of 1,955,385 people were accessed in the data breach, which FBCS claims to have discovered on or around February 26, 2024. A subsequent investigation by the debt collector revealed that its network was hit by hackers between February 14 and February 26 of this year, the data breach lawsuit relays.

Although it learned of the intrusion at the end of February, FBCS did not announce the data breach or begin sending notices to victims until around April 26, the case says. The FBCS data breach notices failed to state how the company discovered that its files had been accessed without authorization, the manner in which the cyberattack was carried out, the reason for the notification delay, or what steps FBCS took after the incident to ensure its systems were secure, the complaint states.

Moreover, FBCS has not disclosed if it has identified the cybercriminal responsible for the data breach or if the affected information was exfiltrated or held for ransom, the lawsuit shares.

“The security of Plaintiffs’ and Class Members’ identities is now at risk because of Defendant’s wrongful conduct, as the [personal information] that Defendant collected and maintained is now in the hands of data thieves,” the case reads. “This present risk will continue for the course of their lives.”

According to the suit, FBCS’s offer of crediting monitoring and identity restoration services to victims is “woefully inadequate” in light of the long-term risk of identity theft and fraud.

As the suit tells it, FBCS failed to properly monitor its computer network and the systems in which proposed class members’ data was held and could have detected the breach sooner had it done so.

The FBCS data breach lawsuit looks to cover all persons residing in the United States whose personally identifiable information was compromised in the data breach disclosed by Financial Business and Consumer Solutions, including all those who were sent notice of the breach.

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