Accusoft Corporation Announces Data Breach | Console and Associates, PC
On August 9, 2022, Accusoft Corporation reported a data breach to the Massachusetts Office of Consumer Affairs and Business Regulation. Although the company has not publicly disclosed the types of data that were disclosed as a result of the incident, under state reporting requirements, a company is only required to report a breach if it involved consumers’ social security numbers, financial account information, driver’s license numbers or state identification numbers. So, while it cannot be confirmed, it would appear that Accusoft’s breach involved one or more of these types of data. After confirming the breach and identifying all affected parties, Accusoft Corp. began sending data breach letters to all affected parties.
If you have received a data breach notification, it is essential that you understand what is at risk and what you can do about it. To learn more about how to protect yourself against fraud or identity theft and what your legal options are following the Accusoft Corp. data breach, please see our recent article on the subject. here.
What we know about the Accusoft Corp data breach
The Accusoft Corporation data breach information comes from an official company filing with the Massachusetts Office of Consumer Affairs and Business Regulation. However, the company’s disclosures in its filing are spare parts at best. For example, Accusoft does not indicate what led to the breach, when the company first became aware of the incident, or what type of information was disclosed as a result.
However, two things suggest that the breach involved potentially sensitive information. First, according to state data breach reporting guidelines, only breaches that result in the leaking of social security numbers, financial account information, driver’s license numbers, or State identification should be reported. And second, Accusoft is offering anyone affected by the recent breach 24 months of free credit report monitoring. Thus, it is likely that the breach involved sensitive consumer data that could be used to commit identity theft or other fraud.
On August 9, 2022, Accusoft Corp. sent data breach letters to everyone whose information was compromised as a result of the recent data security incident.
More information about Accusoft Corporation
Founded in 1991, Accusoft Corporation is a software and business services company based in Tampa, Florida. Specifically, the company develops software for businesses in the finance, legal, healthcare, insurance, and government industries. Some of the company’s flagship products include PrizmDoc Suite, ImageGear Collection, Barcode Collection and Forms Collection. Accusoft Corp. employs over 143 people and generates approximately $17 million in annual revenue.
What can hackers do with your information following a data breach?
Cybercriminals are constantly looking for ways to obtain personal, financial and protected health information from consumers. While a data breach such as the Accusoft breach undoubtedly causes chaos for both the company and the victims, the goal of most cyberattacks is to generate a profit. Cybercriminals have several ways to make money from the information they steal during a data breach. Of course, the specific threats a data breach victim faces largely depend on the type of information hackers obtain. However, as a general rule, most hackers use stolen consumer information to do one of the following:
Intercept your tax refund
Once a hacker gets your social security number, they can file a fraudulent tax return on your behalf in hopes of intercepting your tax refund. Often victims of tax refund fraud do not know they have been targeted until the IRS rejects their tax return because it has already been filed. Victims of a data breach can reduce the risk of becoming a victim of tax refund fraud by filing their tax returns as soon as possible.
Open a new credit card or loan in your name
Perhaps the most obvious consequence of a data breach is that hackers use the information they obtain to open a new line of credit in your name. Usually this involves a criminal using your information to apply for a new credit card or personal loan. Although a hacker also needs your name, date of birth and address to do this, this information is easily accessible to him. For example, a cybercriminal may have additional information about you from another data breach or by performing a quick search using information they already have.
Receive medical treatment on your behalf
Hackers who have your personal information may also try to seek medical attention on your behalf. This is called healthcare identity theft, which is one of the most serious damages that can occur to a data breach victim. Essentially, healthcare identity theft involves a criminal showing up at a doctor’s office pretending to be you. This not only means you still have to pay the bill, but the information in your medical records can also be confused with the criminal’s information, which can have potentially disastrous consequences the next time you have a medical procedure. .
Open fraudulent utility accounts
The Federal Trade Commission reports that 13% of fraud incidents in 2016 involved hackers creating new phone and utility accounts. To open a utility account, all a hacker needs is your name, address, and social security number.
Of course, in neither of these cases can hackers commit this fraud themselves; they often sell your information to another person who then proceeds with the actual fraud. This allows hackers to make a quick profit before moving on to the next set of victims.