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Slim CD, a payment processing company, recently disclosed a major data breach affecting around 1.7 million credit card holders’ financial and personal data. Due to the breach, hackers were able to access the company’s network without authorisation for almost a full year, from August 2023 to June 2024.
Slim CD operates in various industries, including retail, hospitality, and restaurants, though many individuals affected by this breach may not recognise the company. Most of those impacted have likely interacted with businesses using Slim CD’s services rather than directly with the company itself.
The affected company saw strange activity in their systems in mid-June 2024, which is when the breach was originally discovered. It was found through an internal examination that the network has been weak since August 17, 2023. The precise period between June 14 and June 15, 2024, was when credit card details were at risk, even though hackers had access to the data for several months.
Numerous Slim CD customers’ confidential data were exposed in the incident.
Information potentially exposed includes names, physical addresses, credit card numbers, and expiration dates. However, the absence of CVV codes, which are essential for many online transactions, reduces the immediate risk of direct fraud. Despite this, the company warned customers to remain vigilant for suspicious activity, as some risk of misuse still exists.
In response to the incident, Slim CD has strengthened its security measures to prevent future breaches. However, unlike many companies that experience similar breaches, Slim CD did not offer free identity theft protection services to those affected. Instead, it urged individuals to keep a close eye on their financial accounts and report any unauthorised activity to their card issuers as soon as possible.
Although Slim CD has taken action to close the security vulnerability that allowed for this compromise, the length of the unauthorised access period highlights the increasing threats that consumers and businesses in the digital world confront. Cybercriminals are increasingly targeting sensitive data; thus, this event indicates the need for strong cybersecurity defences and constant attention.
