Small Business Administration’s Breach Could Affect You

Small Business Administration’s Breach Could Affect You

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Exploit: Unauthorized database access
Small Business Administration: Government agency overseeing small business affairs

Now, more than ever, the consequences of a data breach are traumatic for victims. Organizations collecting and storing personal data can support their users during the COVID-19 pandemic by taking extra care to ensure that personal data remains private. It’s a priority that always matters, but that is especially amplified during the pandemic.

The portal processing small business owners applying for an emergency loan under the Economic Injury Disaster Loan Program experienced a data breach. The breach, which was detected on March 25th, impacts a vital program for small businesses, and it could harm small business owners who are already grappling with an especially challenging time. Additionally, this oversight has caught the attention of news media, legislatures, and small business owners, weakening its credibility at a critical time.

The breach exposed applicants’ names, home addresses, email addresses, date of birth, citizen status, and insurance information. This data can quickly circulate on the Dark Web, and bad actors will frequently reuse the information in phishing scams and other fraud attempts. The Small Business Administration is offering victims a year of free identity monitoring services, and victims should enroll in this program to receive a notification if their information is misused. Learn more about the breach here.

Customers Impacted: 8,000

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Individual Risk: 2.230 = Severe

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Risk to Small Business: 2.177 = Severe

Charles IT to the Rescue

With Charles IT, you can protect your employees’ digital identities, data, and business continuity. We offer integrated Multi-Factor Authentication, Dark Web Monitoring, and audits to protect your credentials and your data. If you’re interested, reach out to our team to learn more!