What can we learn from the T-Mobile Hack?

November 3, 2021

Recently, T-Mobile was hacked for the third time in the last two years. They eventually confirmed that they lost 50 million records. That’s approximately a third of the USA population when it comes to cell phone communication.

You would be surprised what information your cell phone company has from you: first name, last name, driver’s license, address, and worst of all, your IMEI number. That’s the number that identifies your SIM card on the network. That is just the information cyber criminals are looking for. They can spoof your device based on that IMEI number. Hacks like this lead to more and more people getting bogus call fraud and credit card charges.

As a business, you want to mitigate the issue. It would be best if you had a plan in place for a possible hack. Depending on your industry, you want to talk to a lawyer first thing. Then speak to a PR company. Particular industries need to report to specific agencies. And, of course, you need to report to your clients and maybe offer compensation for lost data.

What could happen if you get hacked? Sometimes the cybercriminal will lock you out and try to extort you for money. They may go in and take your clients’ information and sell it on the dark web. They may do both, lock you out for ransom and sell your information.

Cybercrime reached $1 trillion in damages in 2020. That’s like the GDP of a small country! It’s imperative to protect your company. Spend money on cybersecurity to protect your assets. It might save your business. We can work with you to determine how to best do that based on your industry and budget. Schedule a call.

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