Tipalti – Data Breach Investigation
In this age of technology, amidst a world of encroaching cybersecurity threats, your personal information is more vulnerable than ever. Cafferty Clobes Meriwether & Sprengel has the experience and expertise litigating data breach matters, providing compensation to victims of data breaches, and requiring businesses to enhance their data security practices to protect their consumers. If you think your information may have been compromised in a data breach, please call us at 312.782.4880 or reach us via email at lnichols@caffertyclobes.com.
Tipalti, a notable accounting software and financial technology company headquartered in California, became aware they were amid an ongoing cyber attack on December 2nd, 2023.
The financial software company was initially alerted to the alleged cyberattack when The ALPHV/BlackCat ransomware group posted on X (formerly Twitter), claiming responsibility and threatening to extort customers with stolen data. Tipalti is currently investigating and still maintains that it has not seen any proof of the ransomware group’s claims. The hackers maintain that they have had persistent access to multiple Tipalti systems since Sept. 8, 2023, and have stolen more than 265 gigabytes of data belonging to employees and users of client platforms. Users of Tipalti’s client platforms, including Duolingo, Roblox, and Amazon Twitch, face potential exposure of their personal data to extortion.
The company has not disclosed the exact number of individuals affected by this breach. However, the accessed information could include Social Security numbers, health insurance details, phone numbers, email addresses, date of birth, annual income, tax information, residential addresses, financial account numbers, driver’s licenses, and more.
The Tipalti data breach is a serious matter that could inflict far-reaching consequences for those affected. The exposure of personally identifiable information, especially names and Social Security numbers, poses a significant risk of identity theft, such as criminals opening financial accounts, taking out loans, filing fraudulent tax returns, and obtaining government services in the victim’s name. Personally identifiable information can also be exposed on the Dark Web, which poses a serious threat toward the privacy and safety of many individuals. According to a recent FTC survey, the total cost of identity theft is nearly $50 billion per year, with victims losing an average of nearly $5,000 from the misuse of their personal and financial information. The exposure of protected medical information can pose an even greater danger of identity theft—such as obtaining medical services in the victim’s name, which will be charged to the victim.
The Tipalti data breach may have exposed you to a heightened risk of fraud and identity theft. It is critical that you closely monitor your financial accounts. You could be at risk of incurring additional out-of-pocket costs for purchasing credit monitoring services, credit freezes, credit reports, or other protective measures to deter and detect identity theft.
Cafferty Clobes Meriwether & Sprengel has the experience and expertise litigating data breach matters, providing compensation to victims of data breaches, and requiring businesses to enhance their data security practices to protect their consumers. If you suspect your sensitive personal information may have been compromised in the Tipalti data breach, you must take action to protect both your personal and financial well-being. Please call us at 312.782.4880 or reach us via email at lnichols@caffertyclobes.com.
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December 20, 2023Share on Social Media