Dealer Credit Service Provider Breached
Hack exposed thousands of dealerships’ customer data

700Credit said it hired cybersecurity experts to investigate the breach who found it didn't affect the company's normal operations.
Pexels/Nikita Belokhonov
A data breach affecting major auto dealership customer credit checks provider 700Credit compromised the personal information of nearly six million people across more than 17,000 stores.
The company, which provides credit reports, compliance services, soft-pull and fraud-prevention services, said it hired cybersecurity experts to investigate the breach. On its website, it assured dealer clients and their customers that it had so far discovered no identity theft or other misuse of the data.
700Credit said the cybersecurity investigators had also found no effect on the company’s internal network and that it continued to operate and serve clients as normal. It also mailed a notice to clients and was in the process of contacting all affected consumers individually to offer credit-monitoring and other help.
The company established a phone line to take questions on the breach. It advised auto dealers to talk with their legal counsel related to any obligations they may have involving the incident.
A report this fall by Reynolds and Reynolds affiliate Proton Dealership IT and Security showed many auto dealers themselves haven’t strengthened their stores’ cybersecurity after hackers breached CDK’s dealer-serving systems last year.
The company found such incidents spiked nearly 250% since that attack. Proton said the incident exposed industry vulnerabilities criminals have since been exploiting.
DIG DEEPER: More Auto Retailers Would Benefit From Additional Cyber Defense
Originally posted on F&I and Showroom
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