Wonga Loans Data Breach – There has been a lot in the news about payday lenders and the controversy around them in recent years. However, no other payday loan lender has hit the headlines as much as Wonga due to the scandals surrounding them.
Most recent is the data breach which has affected 245,000 customers in the UK, and possibly 25,000 in Poland.
Wonga is Investigating
Wonga is in the process of investigating illegal and unauthorised access to customer’s data. On Saturday the company was contacting their customers to inform them of the breach. In response they have set up a phone line to help with customer support on the matter.
It is thought that the breach has made customers names, addresses, phone numbers, and bank account details vulnerable.
A cybersecurity expert, Professor Alan Woodward said this is possibly the biggest breach in the UK involving customer’s financial information.
In response to the breach Wonga has ensured that they will work closely with the relevant authorities to help with the situation. However, the company believes that the attackers had not gained access to customer’s loan details. The company has informed customers to be vigilant of any suspicious activity.
Wonga has also set up a help page for customers and have advised them to contact their own banks to be aware of the situation and to also be vigilant of suspicious activity on their account.
They have also advised customers to look out for scammers and cold callers or any emails requesting personal information. They have advised affected customers that if they would like any further help or information to contact their helpline on 02071388330.
The main worry is that sort codes and the last four digits of customers bank cards has been exposed and leaves the attacker open to using the details fraudulently. Wonga has also contacted financial institutions about the breach and to deal with it accordingly.
This is not the first time a well-known UK based firm has been left vulnerable to hackers. Talk Talk received a fine only last year for a data breach. However, none of the 157,000 customers had their bank details stolen.
Also, last year 8 million customers in the UK had email addresses and passwords made vulnerable due to a security breach.
This is not the first time Wonga has made the news for problems on how they operate. In 2014 the UK Financial regulators found that the company had issued loans to applicants that were unable to afford them and subsequently chased them for the debt using a fake law firm.
Due to the tighter regulations for the financial industry Wonga also saw losses double and with the recent revelations it will again have a further hit on the company’s profits and future.