Hackers Steal Customer Data from UK FinTech Loqbox

A UK-based fintech was hit by a “sophisticated” cyber-attack last month, compromising the payment information and personal details of its customers.

The firm, which helps customers improve their credit score by taking out and repaying loans with it, revealed the incident in an email to customers seen by MoneySavingExpert.

It happened on February 20 this year, and although the number of customers affected is thus far unknown, the variety of personal information compromised should set alarm bells ringing for those affected.

It includes customers' names, dates of birth, postal addresses and phone numbers alongside: the first six and last four digits of their card number, expiry date, sort code and two digits from their bank account number.

This information isn’t enough on its own for hackers to use in payment or account takeover fraud, but it could certainly be deployed to make follow-on phishing attacks more convincing.

If a victim responded to such an email with more of their details, hackers could piece together enough digital information to commit a range of identity fraud scams.

“Cyber-criminals are quick to create genuine-looking fake sites and emails designed to manipulate further information out of their victims including passwords or other missing data,” warned ESET cybersecurity specialist, Jake Moore.

Loqbox itself has claimed to have notified the relevant regulatory authorities and police, and has taken steps to address the security issues which led to the breach.

It reassured customers that any funds paid into accounts were still secure. However, there’s no public breach notification on its website or Twitter feed, the latter not having been updated since June 2019.

What’s Hot on Infosecurity Magazine?