Upbound says hack caused $13 million in fraudulent Acima leases
Threat actors who stole data from Upbound Group's systems used it to generate $13 million in Acima leases, the fintech company revealed.
The business claims in an SEC filing that it "experienced cybersecurity incidents in which certain non-sensitive customer information and other documents were obtained without authorization."
In the second quarter of this year, the Acima sector suffered financial losses of about $13 million as a result of the threat actor using the information to perpetrate fraud in lease-to-own agreements. Previously called Rent-A-Center, Upbound Group offers lease-to-own (LTO) goods and financial solutions. With the names Acima Leasing, Rent-A-Center, Brigit, and Upbound Mexico, it is a significant participant in the alternative finance and rental industries read...