PayPal’s TIO network data breach hits 1.6m customers
The network, a publicly traded payment processor PayPal acquired in July 2017, has been suspended as part of an ongoing investigation of security vulnerabilities.
The firm says its PayPal platform is “not impacted in any way, as the TIO systems are completely separate from the PayPal network, and PayPal’s customers’ data remains secure”.
This ongoing investigation has identified evidence of unauthorised access to TIO’s network, including locations that stored personal information of some of TIO’s customers and customers of TIO billers.
TIO has also begun working with the companies it services to notify potentially affected individuals, and PayPal is working with an unnamed consumer credit reporting agency to provide free credit monitoring memberships. Individuals who are affected will be contacted directly and receive instructions to sign up for monitoring.
As you may know, these data breach issues are nothing new.
Back in September, information specialist Equifax revealed a cybersecurity incident potentially impacting approximately 143 million US consumers. Later, the US Federal Trade Commission (FTC) and Mastercard and Visa warned issuers that more than 200 million cards were at risk.
While in April, UK-based payday loan company Wonga said there may have been illegal and unauthorised access to the personal data of some of its 270,000 customers.