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Posted On September 26, 2022 Consumer Privacy & Data Breaches

Data Breach Alert: Apex Capital Corp.

NOTICE: If you received a NOTICE OF DATA BREACH letter from Apex Capital Corp., contact the attorneys at Console & Associates at (866) 778-5500 to discuss your legal options, or submit a confidential Case Evaluation form here.

Data Breach AlertOn September 23, 2022, Apex Capital Corp. filed notice of a data breach with the Attorney General of Texas after the company learned that a data breach compromised the sensitive information of certain consumers that was entrusted to Apex Capital. Based on an official filing from the company, the incident resulted in an unauthorized party gaining access to the following data types: names, addresses and Social Security numbers. After confirming that consumer data was leaked, Apex Capital began sending out data breach notification letters to all individuals who were impacted by the recent data security incident.

If you received a data breach notification, it is essential you understand what is at risk. The data breach lawyers at Console & Associates, P.C. are actively investigating the Apex Capital data breach on behalf of people whose information was exposed. As a part of this investigation, we are providing free consultations to anyone affected by the breach who is interested in learning more about the risks of identity theft, what they can do to protect themselves, and what their legal options may be to obtain compensation from Apex Capital Corp.

What We Know So Far About the Apex Capital Breach

News of the Apex Capital breach is still fresh, and the company has not yet posted a notice of the breach on its website. Thus, all available information comes from the Texas Attorney General’s data breach tracking website. Based on the limited information available, the breach resulted in the names, addresses and Social Security numbers of 706 Texas residents being compromised. However, while Apex Capital is a Texas-based company, it provides services to individuals across the country, meaning the total number of people impacted by the recent data security could be much higher.

On September 23, 2022, Apex Capital sent out data breach letters to all individuals whose information was compromised as a result of the recent data security incident.

More Information About Apex Capital Corp.

Founded in 1995, Apex Capital Corp. is a transportation and freight factoring company based in Fort Worth, Texas. The company provides a variety of services to small- and medium-sized trucking companies, including freight factoring, credit lines for fuel purchases, and payment tools. Apex Capital employs more than 159 people and generates approximately $81 million in annual revenue.

How Hackers Use Social Security Numbers to Commit Identity Theft and Other Frauds

Hackers are always coming up with new ways to get ahold of consumers’ personal, financial and protected health information. While hackers can target any type of sensitive information, perhaps the most frequently targeted data is Social Security numbers. But why? How can they profit off of a stolen SSN?

Most people assume that identity theft or a few unauthorized transactions are the extent of the damage a hacker can cause. Indeed, these are common harms that stem from a data breach, and it can be very inconvenient and require hundreds of hours of work to resolve these issues. However, hackers have other ways of perpetrating fraud that may be even worse.

Below are a few of the ways that hackers can use stolen Social Security numbers to perpetrate fraud.

Tax Refund Fraud

A hacker who steals someone’s Social Security number may be able to intercept their tax refund by filing a federal tax return, pretending to be the victim.  Unfortunately, victims of tax refund fraud may not know they’ve been the target of tax refund fraud until the IRS rejects their tax return because, in the IRS’s system, the return has already been filed. To reduce the chances of a hacker successfully committing tax refund fraud, you should file your tax return as soon as possible.

Open Up a New Credit Card or Take Out a Loan

The most common harm associated with a data breach involves hackers using a victim’s information to open up a new line of credit, usually in the form of a credit card or consumer loan, because these products are the easiest to obtain and can usually be opened online. To do this, a hacker only needs the victim’s date of birth and address in addition to their Social Security number. Of course, once a criminal has your name and Social Security number, obtaining the other information won’t pose much of a hurdle.  They can typically find this information online or through a database of previously leaked information.

Open Fraudulent Utility Accounts

One of the lesser known consequences of a data breach involves a hacker opening up a new utility or cell phone account in a victim’s name. While few people know about this type of fraud, according to the Federal Trade Commission (“FTC”), 13 percent of fraud cases in 2016 involved hackers opening up fraudulent phone and utility accounts. To open up a utility account, all a hacker needs is a victim’s name, address and Social Security number. Often, these accounts can be set up entirely online, making it even easier for hackers to orchestrate this type of fraud.

If You Have Questions About Your Rights Following the Apex Capital Data Breach, Console & Associates, P.C. Can Help

At Console & Associates, P.C., our consumer privacy lawyers monitor all security and data breaches to help affected consumers pursue their legal remedies. We offer free consultations to victims of data breaches and can explain your rights in clear, understandable terms so you can make an informed decision about how to proceed with your case. If you’ve been affected by the Apex Capital data breach or any other data security incident, Console & Associates, P.C., will investigate your case at no charge and offer you thorough advice about how to most effectively proceed with your case. If you decide to bring a case, we only get paid if you do. If your claim is successful, any legal fees are either paid by the defendant or come out of the funds recovered from the defendant. If your claim doesn’t result in a recovery, you will pay nothing.

To schedule your free consultation, just call (866) 778-5500 today or fill out our secure contact form.

NOTICE: If you received a NOTICE OF DATA BREACH letter from Apex Capital Corp., contact the attorneys at Console & Associates at (866) 778-5500 to discuss your legal options, or submit a confidential Case Evaluation form here.