AT&T’s Data Scheme Unveiled After Big Security Breach

CNBC‘s Josh Lipton, and Mike Prospero, Tom’s Guide reviews editor, discussed a security breach at Ma Bell, where customer data was compromised by a third-party vendor. “AT&T Inc. (NYSE:T) confirmed that the attackers have compromised the security of a number of its mobility wireless customers; personal information!” Mr. Lipton commenced. Now, the company assured that it has taken steps to help prevent it from ever happening again. But, should wireless customers still be leery here? How did this get by? – the reporter asked, emphasizing the fact that it was employees of one of AT&T’s vendors that stole this personal information.

AT&T Inc.

To this, Mr. Prospero answered that it has been just a breach of protocol and, although the telecom company said that it has taken measures to avoid this from happening again, someone can always find a loophole. Consumers should be concerned to varying degrees. While AT&T Inc. (NYSE:T) already alerted its customers, “if you suspect a data breach, you can always use a credit monitoring service to make sure that someone hasn’t taken your social security number and used it for ill purposes.”

The breach was first reported in May. However, concerns regarding its actual reach still linger. Some customers could feel inclined to believe that the breach was actually much larger than previously informed, and could be concerned about their personal data’s safety. “We know that at least 500 customers, in California alone, have been affected by this, because it is required by law. But all the other people who have been affected have already been notified by AT&T Inc. (NYSE:T), and they are not saying how many is the total. But the affected customers have been notified.”

To close up, Mr. Prospero highlighted the importance of having good passwords to increase your security when using a smart phone or other devices.

AT&T Inc. (NYSE:T)’s stock fell more than 4% since mid-May, and roughly 0.3% during Monday’s trading, after the data scheme was unveiled.

Disclosure: Javier Hasse holds no position in any stocks mentioned.

Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The 10 Largest Pharmaceutical Companies In the World

The 10 Most Expensive Android Apps

The 9 Most Expensive Designer Bags in the World

The 7 Most Expensive Real Estate in the World

The 10 Most Expensive eBay Items Ever Sold

The 10 Most Expensive iPhone Apps

The 9 Most Expensive Designer Shoes in the World

The 10 Most Expensive Cigarette Brands

The 10 Most Expensive Law Schools in the US

The 10 Best Wall Street Movies

The 10 Most Expensive Golf Clubs Ever Sold

The 10 Most Expensive Golf Memberships

The 10 Best Disney Characters Ever Created

The 8 Best Foods for Gaining Weight

The 10 Most Expensive Colleges in the World

The 7 Most Memorable Ad Campaigns of All Time

The 7 Most Expensive High Schools in the World

The 10 Electric Vehicles with the Longest Range

The 10 Cities with the Worst Drivers in the World

The 10 Most Expensive Dresses Ever Created

10 Islands to Visit Before You Die

10 Famous Celebrities Who Needed Rehab

The 15 Countries with the Largest Oil Reserves

The 10 Most Overused Excuses in the World

The 5 Best iOS Apps You Can’t Get on Android

5 Companies Damaged By Social Media Blunders

The 10 Most Legendary Blues Songs

The 10 Most Lawless Places in the World

4 Reasons China is a Threat to the US

The 17 Most Sugary Drinks in the World

The 10 Most Ruthless Rulers in History

The 10 Greatest Generals in History

Top 8 Travel Destinations for 2015

The 10 Safest Dog Breeds for Children

The 10 Most Stolen Vehicles in the US

The 7 Most Expensive Celebrity Weddings

The 10 Best LoL Teams in the World

Top 10 Worst Marketing Campaigns Ever Produced

Top 5 Diets that Help You Lose Weight

The 10 Best Ways to Stay Awake

7 Artists That Switched Musical Genres

The 10 Most Expensive Cities to Live in New Jersey

The 10 Best High Schools in New York

The 10 Countries With the Least Gender Inequality

The 6 Biggest Musician-Manager Feuds

The 10 Countries with the Cheapest Gas Prices

The 7 Most Theatrical Bands of All Time

The 8 Worst Band Breakups of All Time

The 10 Most Important South American Leaders

The 7 Most Successful Casting Show Winners

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!