Security Market Segment LS
Tuesday, 05 December 2017 06:06

PayPal payment processor breached, 1.6m customer details stolen

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PayPal's recently acquired payment processor TIO Networks says that the data of up to 1.6 million customers was stolen in a recent data breach.

TIO Networks was acquired by PayPal in July in a deal put at US$238 million.

A statement from PayPal said its own platform was not affected by the breach.

Operations at TIO were suspended on 10 November as part of an ongoing investigation of security vulnerabilities on the platform.

A TIO statement said: "The ongoing investigation has uncovered evidence of unauthorised access to TIO’s network, including locations that stored personal information of some of TIO’s customers and customers of TIO billers.

"TIO has begun working with the companies it services to notify potentially affected individuals.

"We are working with a consumer credit reporting agency to provide free credit monitoring memberships. Individuals who are affected will be contacted directly and receive instructions to sign up for monitoring.

"We greatly appreciate the support of our billing partners, retailers, agents and consumers during this time. We will continue to communicate important updates to customers."

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Sam Varghese

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Sam Varghese has been writing for iTWire since 2006, a year after the site came into existence. For nearly a decade thereafter, he wrote mostly about free and open source software, based on his own use of this genre of software. Since May 2016, he has been writing across many areas of technology. He has been a journalist for nearly 40 years in India (Indian Express and Deccan Herald), the UAE (Khaleej Times) and Australia (Daily Commercial News (now defunct) and The Age). His personal blog is titled Irregular Expression.

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