In the past, Joe Lagennusa had been having a difficult time making ends fulfill, therefore the product product sales manager in Florida looked to online payday loan providers. Then in two accounts he had with a bank were hackedвЂ“multiple timesвЂ“and the thieves made off with $1,100 november.
Sky-high rates charged on pay day loans arenвЂ™t the only stress for cash-strapped customers. These online loan providers are also drawing the eye of cybercriminals that are using peopleвЂ™s username and passwords and deploying it to empty their cost savings, make an application for bank cards, or perform other types of theft.
вЂњIt is apparently a fresh revolution of fraudulence,вЂќ said Andrew Komarov, president and intelligence that is chief of IntelCrawler, a cybersecurity company that obtained several databases from a vendor for a hacking forum who claims to own use of lending informative data on a lot more than 105 million individuals. While that figure couldnвЂ™t be confirmed, Bloomberg Information contacted lots of people placed in the databases, including Lagennusa, and confirmed that their information came from pay day loan applications.