Financial Business and Consumer Solutions
Data Breach Class Action Lawsuit

April 27, 2024 -- Attention: victims of the FBCS data breach.

Abington Cole + Ellery is investigating the data breach recently announced by Financial Business and Consumer Solutions.

Financial Business and Consumer Solutions data breach summary:

Financial Business and Consumer Solutions (FBCS), a third-party agency specializing in debt collection, handles personal data provided by its clients to manage debt recovery. On February 26, 2024, FBCS identified unauthorized access within its computer network systems. In response, FBCS claims it swiftly implemented security measures to contain the data breach and initiated an investigation with the help of external computer forensics experts. This inquiry purportedly revealed that the breach occurred from February 14, 2024, to February 26, 2024, during which time unauthorized parties could potentially view or extract data from the FBCS computer network.

According to FBCS, the investigation further evaluated the types of data that might have been compromised, focusing on whether any sensitive data was at risk and identifying the individuals potentially affected. FBCS has stated that it began notifying affected client organizations beginning on April 4, 2024, and continued updating them as the data review progressed. Additionally, FBCS offered to notify individuals who might have been impacted on behalf of their clients, as per the requirements.

Upon detecting the breach, FBCS claims it promptly acted to secure its computer network systems, evaluate the extent of the impact, and identify those potentially at risk. FBCS also reported the security incident to federal law enforcement and is enhancing its security protocols in a newly established network environment to prevent future incidents.

As a result of the data breach, Financial Business and Consumer Solutions is offering 12 months of free credit monitoring and/or identity theft protection services to affected individuals.

Approximately 1,955,000 individuals were affected by the Financial Business and Consumer Solutions data breach.

Breached data may include, but is not necessarily limited to: names, Social Security numbers, dates of birth, and account data.

Additional information about the Financial Business and Consumer Solutions data breach may be found here: Financial Business and Consumer Solutions Data Breach Notification.

About Financial Business and Consumer Solutions:

Financial Business and Consumer Solutions, commonly known as FBCS, is a debt collection agency based in Hatboro, Pennsylvania, with additional offices in Tampa, Florida, and Cape May, New Jersey. The company was originally founded in 1982 under the name Federal Bond Collection Services. In 2014, it was rebranded to better reflect its broadened scope of services. FBCS is licensed and bonded nationally, providing a range of collection services that include early intervention (pre-charge off), third-party collections, and more specialized financial recovery solutions tailored to various industry sectors.

FBCS prides itself on adhering to high standards of compliance and security, holding certifications in SSAE 18 Type II, PCI-DSS, and ISO 27001. These certifications signify FBCS's commitment to maintaining rigorous security and operational standards, which are essential for protecting client data and ensuring the integrity of their operations. Regular audits are conducted to ensure continued compliance with these stringent standards, reflecting their commitment to operational excellence and client trust.

FBCS offers a variety of solutions tailored to meet the needs of different industries including consumer credit, healthcare, commercial sectors, auto loans and leases, student loans, and utilities. These services encompass pre-charge off, early out, and third-party collections, designed to optimize financial recovery for their clients. Their approach integrates advanced technology platforms and compliance-focused procedures, ensuring effective and secure debt collection practices across all service areas.

The Financial Business and Consumer Solutions Website may have additional information about or provide periodic updates regarding the data breach.

For more information about steps you can take to possibly reduce the chances harm arising from a data breach, please review the following article: What are some steps you can take if you've been the victim of a data breach?

If you believe you are a victim of the Financial Business and Consumer Solutions data breach, and would like to participate in a class action lawsuit regarding this data breach, please submit your information via the form on this webpage. This website is not associated with nor authorized by Financial Business and Consumer Solutions or any affiliated companies.