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Posted On April 4, 2022 Consumer Privacy & Data Breaches

SandRidge Energy, LLC Announces Consumer Data Breach

NOTICE: If you received a NOTICE OF DATA BREACH letter from SandRidge Energy, 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 April 1, 2022, SandRidge Energy, LLC based in Oklahoma City, OK, confirmed that the company recently experienced a data breach resulting in the names, addresses, Social Security numbers, driver’s license numbers and health information of certain individuals being compromised. The company reports that this breach released the personal identifying information of thousands of individuals. The data breach lawyers at Console & Associates, P.C. are actively investigating the SandRidge Energy data breach on behalf of people whose information was exposed. As a part of our 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 SandRidge Energy.

The Very Real Threat Data Breaches Present to Consumers

According to some estimates, as many as 15 million people fall victim to identity theft each year. Many of these identity theft cases stem from data breaches such as the one recently announced by SandRidge Energy. On average, victims of identity theft spend 200 hours and more than $1,300 recovering their identity. However, having your identity stolen results in more than a call to your bank to straighten things out. Roughly 83 percent of data breaches involve the exposure of sensitive information such as Social Security numbers, protected health information, home addresses, and bank account numbers. In the wrong hands, this information can be used to do more than take out loans or open credit cards. Some criminals provide stolen information to the police if they are arrested, meaning an innocent person ends up with a criminal record. Others use consumers’ protected health information against them, threatening to release the information unless a ransom is paid.

By investigating the SandRidge Energy data breach, Console & Associates, P.C. hopes to help victims understand the threats they face and learn how they may be able to obtain compensation for all they’ve gone through and may need to go through in the future.

About SandRidge Energy, LLC

SandRidge Energy, LLC, is an oil and natural gas company targeting the Midcontinent Basin in Oklahoma and Kansas. SandRidge Energy focuses on developing possible new sources of oil and gas, as well as extracting known supplies from existing wells. The company was founded in 2006 and became a publicly-traded company on the New York Stock Exchange the following year, under the ticker symbol “SD.” SandRidge Energy employs approximately 100 people and generates annual revenue of $144 million.

The Current Data Breach Crisis

Data breaches are not new; however, cybercriminals have recently changed the way they carry out their attacks, making the risks more serious than ever before. Between 2020 and 2021, the total number of data breaches increased by 68%, from 1,108 to 1,862. However, over that same period, the total number of victims decreased. While this may sound like encouraging news, according to the Identity Theft Resource Center, this is a function of criminals focusing more on stealing specific types of data, such as Social Security numbers, financial account information, and protected health information. Still, despite the decrease in the number of people affected by data breaches, there are more than 188 million data breach victims per year. Many of these are consumers whose identities are stolen multiple times per year.

Data breaches can occur in a number of ways. For example, phishing scams, malware programs and ransomware attacks are all common. In each of these cyberattacks, the hacker targets a company, usually with knowledge or suspicion of vulnerabilities in the company’s data security system. Once the hacker gains access to a company’s computer system, they can access and steal whatever consumer data they come across.

This highlights the important role that companies have in maintaining the security of consumers’ data. When companies store consumer data, they have an obligation to protect it. Indeed, by maintaining a robust data security system, companies are the only ones who can prevent a cyberattack. It is crucial that companies understand their responsibilities and take them seriously. Unfortunately, many companies have been slow to realize the importance of dedicating a small portion of their profits to taking care of the data they possess. By holding companies accountable for their lax data security measures through data breach lawsuits, consumers can send a message that their privacy is important.What to Do if You’ve Been Affected by a Data Breach

If you receive a data breach letter from SandRidge Energy, or any other company for that matter, it is important that you give the situation the seriousness it deserves. While you cannot help the fact that your data was exposed to an unauthorized party, you can take preventative steps to reduce the likelihood of becoming victimized further. However, according to the Identity Theft Resource Center, just 5% of data breach victims take the appropriate steps after a breach.

1. Determine What Information of Yours Was Exposed: Your first step should be to carefully read the data breach letter to determine what type of information was affected. While this list provides basic guidance on what to do following a data breach, there are specific things you’ll want to do depending on the type of information that was compromised. Be sure to keep a copy of the data breach notification for your records.
2. Prevent Further Access to Your Accounts: Regardless of the type of information that was compromised, change the passwords and security questions for all your online accounts, especially your online banking credentials. You should also set up multi-factor authentication for any site that allows it, as this greatly reduces the chance of unauthorized access.
3. Protect Your Credit: One of the primary reasons why cybercriminals orchestrate data breaches is to gain access to consumers’ financial information. After announcing a data breach, companies typically provide free credit monitoring for a period of time. You do not give up any of your rights by signing up for this free service, and it can help you determine if someone is attempting to steal your identity.
4. Consider a Credit Freeze: A credit freeze is a type of alert you can place on your credit file by contacting one of the three major credit bureaus. When a credit bureau places a freeze on your credit, nobody can access your credit report without your express authorization. A credit freeze remains in effect until you remove it, but you can temporarily lift a freeze if you need to apply for a loan. According to the Identity Theft Resource Center, placing a credit freeze is the “single most effective way to prevent a new credit/financial account from being opened.” However, ITRC reports that just 3% of consumers whose information is leaked place a freeze on their accounts.
5. Keep a Close Eye on Your Credit Report and Bank Accounts: Unfortunately, being the victim of a data breach involves a lot of work on your part because protecting yourself from the ongoing threat of identity theft is something you need to stay on top of. After a breach, you should regularly check your bank accounts and credit card accounts for any signs of fraudulent transactions. It is also important to frequently check your credit report, as you can tell when a company runs a credit check, for example, if an identity thief attempted to apply for a loan in your name.
6. Contact a Data Breach Lawyer to Discuss Your Options: If your sensitive data was compromised in a data breach, the company responsible for maintaining your information may be liable to you for financial damages. The money you could obtain will compensate you for the money and time you were forced to spend recovering your identity, which can be substantial in some cases. However, these cases aren’t just about the money. They are also important tools consumers can use to convince large companies to take data security more seriously. It is possible, over time, companies will get the message, implement more robust data security measures, and the number of data breaches will go down.

If You Have Questions About Your Rights Following the SandRidge Energy 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 SandRidge Energy 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 SandRidge Energy, contact the attorneys at Console & Associates at (866) 778-5500 to discuss your legal options, or submit a confidential Case Evaluation form here.