Cabot Financial Battles Data Breach, Seeks Return of Stolen Information
Dublin, Ireland: Irish debt collection firm Cabot Financial is fighting to recover data stolen in a suspected cyberattack, pressing legal action against an unknown group and a UK-based web hosting provider. This previously unreported case raises serious concerns about cybersecurity vulnerabilities within the financial sector.
Last month, Cabot successfully obtained an injunction from the High Court in Dublin, Ireland compelling Aeza International Ltd., a UK-registered hosting company, and unnamed attackers to furnish around 356 GB of data taken from Cabot’s systems. This data, according to Cabot director Sean Webb, contains sensitive information like:
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Personal details of over 100,000 current customers, potentially including historical data escalating the figure significantly
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Financial information linked to loans Cabot acquired and customers of financial institutions for which Cabot offers credit servicing
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Potentially sensitive information about customer circumstances leading to repayment difficulties, including health or marital status
- Internal corporate data including employee information, pricing, redundancy plans, and confidential business opportunities
Cabot maintains that they detected suspicious activity within their IT system in late September, prompting immediate action including engaging a specialized incident response team — supported by renowned cybersecurity experts Mandiant and external legal counsel.
The investigation quickly revealed a data theft occuring on September 17th, when an unauthorized command initiated a backup of files to an external IP address. Event logging within Cabot’s system confirmed that 393,984 files were accessed.
Mandiant identified the IP address connected with the stolen data as belonging to Aeza, which operates from Barking Road, London. However, further investigation suggests Aeza might be a shell company, using secretarial services provided by another firm. The sole director of Aeza, Marat Timurov, is based in Uralsk, Kazakhstan.
Cabot’s legal team argued for an in-camera hearing and an anonymisation order, fearing that revealing details of the litigation could lead to the cyber attackers demanding a ransom for the return of the stolen data.
This concern remains, as Aeza has yet to respond to the court proceedings, despite being formally served. Mr. Justice Mark Sanfey, presiding over the voir dire proceeding, has authorized alternative methods for notifying the unnamed attackers, including email communication.
The High Court is expected to revisit the case next month. Cabot will seek a continuation of the injunction until the full legal process concludes, hoping to recover the stolen data and prevent further breaches. This case serves as a stark reminder of the evolving threat landscape, highlighting the urgent need for robust cybersecurity measures within all sectors, especially those handling sensitive personal and financial data.
What are your thoughts on the implications of this data breach on both Cabot and the wider financial sector? Share your insights in the comments below.
