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Mr. Cooper hackers stole personal data on 14M customers

• me_smith 3y ago
  > Mr. Cooper said in its regulatory filing that the cyberattack will cost the company at least $25 million, up from an estimated $5 to 10 million, largely due to paying for identity protection to its current and former customers for two years. For a company that makes ~$2.9 billion revenue, $25 million is a drop in the bucket. Why aren't there more repercussions for companies that can't protect their customers' data? There have been so many breaches that result in "free identity protection services". Maybe these "identity protection service" companies are paying the hackers?
  • srj 3y ago
    > Mr. Cooper said the hackers stole customer names, addresses, dates of birth and phone numbers, as well as customer Social Security numbers and bank account numbers. I don't understand how credit monitoring is supposed to help with a breach of bank account numbers. If my checking gets drained are they liable?
• gorbachev 3y ago
  This is awesome. The credit monitoring from the last data breach that happened to a service not safeguarding my information properly was just about to expire. /s At this rate it would probably make sense for the various financial companies just to pay a federally mandated bond/insurance fee to a program that offers free credit monitoring service to everyone with financial accounts in the US. At least they could then claim they did in fact protect their users adequately.