Financial Companies Expose 425 GB of Data in Insecure Database

guest · Mar 17, 2020

Financial Companies Expose 425 GB of Data in Insecure Database
March 17, 2020
https://www.macobserver.com/news/financial-425-leak/

A recent report shows that a database thought to have been connected to financial companies Advantage Capital Funding and Argus Capital Funding, although the researchers believe them to be the same company. The database was used for the app ‘MCA Wizard’ (now defunct) to provide businesses with Merchant Cash Advances.
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Key Takeaways

Found on Amazon Web Services in December 2019, it wasn’t secured in any way, such as with encryption or a username and password.

The researchers tried to contact both companies but were unable to do so. They then contacted AWS and the database was closed.

People affected include customers, clients, contractors, employees, and partners of Advantage and Argus.

Over 500,000 records were exposed, with data like credit reports, bank statements, contracts, legal paperwork, driver’s licenses, and a lot more.

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vpnMentor: Report: Two Corporate Finance Companies Leak Half a Million Legal and Financial Documents Online

Example of Entries in the Database
The database contained over 500,000 documents, totaling 425GB of data. Within was a wide range of documents covering many aspects of Advantage and Argus’s businesses, finances, and dealings with other companies.
Impact For Advantage and Argus
This leak raises serious credibility and trust issues for Advantage and Argus. By not sufficiently securing this database and revealing so much information, they have compromised the safety, privacy, and security of their clients, partners, and customers.
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Financial Companies Expose 425 GB of Data in Insecure Database

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