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PayPal Subsidiary Data Breach Hits Up to 1.6 Million Customers

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Where there is order, there is also chaos. As long as we try to keep hackers at bay there will be also attacked.Throughout history, there are those want to watch the world burn.Those who try to spread a shadow over the Midgard.It is like a silent war in the shadows, behind the screens and keyboards.One for control other for chaos.

Global e-commerce business PayPal has disclosed a data breach that may have compromised personally identifiable information for roughly 1.6 million customers at a payment processing company PayPal acquired earlier this season.

PayPal Holdings Inc. said Friday that a review of its recently acquired company TIO Networks showed evidence of unauthorized access to the company’s network, including some confidential parts where the personal information of TIO’s customers and customers of TIO billers stored.

Acquired by PayPal for US$233 Million in July 2017, TIO Network is a cloud-based multi-channel costs payment receivables and processor management provider that serves the biggest telecom, wireless, energy and cable supply bill issuers in THE UNITED STATES.

PayPal did not clear when or how the data breach incident took place, neither it revealed details about the types of information being stolen by the hackers, but the company did confirm that its platform and systems were not affected by the incident.
“The PayPal platform is not impacted in any way, as the TIO systems are completely separate from the PayPal network, and PayPal’s customers’ data remains secure,” PayPal said in its press release.

The data breach in TIO Networks was discovered as part of an ongoing investigation for determining security vulnerabilities in the payment digesting platform.

 

When PayPal discovered an unauthorized usage of the TIO’s network, PayPal took action by “initiating an internal investigation of TIO and bringing in additional third-party cybersecurity expertise to review TIO’s bill payment platform,” PayPal press release reads.

The ongoing company has begun dealing with companies it services to notify potentially affected customers. Besides notifying, the business is also dealing with a consumer credit reporting agency, Experian, to provide free credit monitoring memberships for fraud and identity theft to those who find themselves suffering from the breach.
To safeguard its customers, TIO, in addition, has suspended its services until a full-scale analysis into the event is completed.

“At this point, TIO cannot provide a timeline for restoring bill pay services and continues to recommend that you contact your biller to identify alternative ways to pay your bills,” TIO’s Consumer FAQ.

“We sincerely apologize for any inconvenience caused to you by the disruption of TIO’s service.”

Since the investigation is ongoing, PayPal will talk to TIO customers and merchant partners directly as soon as the business has more details on the incident. Also, the affected customers will be contacted by the company straight.

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