The world’s largest ticket retailer is in hot water after their parent company, Live Nation Entertainment filed an 8-K filing with the Security and Exchange commission admitting that they had been hacked to the tune of 1.3 terabytes of information. That amounts to 560 million customers’ personal information that has been stolen from the company’s servers. Today, we take a look at the hack and what it means for consumers.
About the Hack
A hacking group by the name of ShinyHunters breached the Live Nation Entertainment servers and was able to get their hands on a massive amount of customer data. In media reports, they gained access to the data through a third-party cloud provider and were able to take the lot of it. According to the cloud provider, the breach was a result of users who didn’t turn on their multi-factor authentication, and was breached using credentials the hackers had already obtained through the use of infostealing malware.
How to Keep from Being a Victim of Identity Theft
If a retailer you do business with gets hacked, there really isn’t any recourse. Stand up companies will offer something—even if it is only credit monitoring—to make up for the breach of trust. There are things you can do, however, to protect yourself from identity theft. They include:
Secure Your Personal Information
- Use strong passwords - Create complex passwords that include a mix of letters, numbers, and special characters. Avoid using easily guessable information like birthdays or simple sequences.
- Enable multi-factor authentication - Use two-factor authentication (2FA) wherever possible to add an extra layer of security to your accounts.
- Be careful with personal documents - Store important documents, such as your Social Security card, birth certificate, and passport, in a safe place.
Monitor Your Accounts Regularly
- Check bank and credit card statements - Regularly review your statements for any unauthorized transactions and report them immediately.
- Monitor your credit report - Obtain a free credit report annually from each of the three major credit bureaus. Look for unfamiliar accounts or incorrect information.
- Set up alerts - Many financial institutions offer account alerts that can notify you of suspicious activity, such as large purchases or changes to your account information.
Be Cautious Online and Offline
- Beware of phishing scams - Be wary of emails, texts, or phone calls requesting personal information. Verify the sender's authenticity before clicking on links or providing information.
- Use secure connections - When shopping or banking online, ensure the website is secure by looking for "https://" in the URL and a padlock symbol. Don’t connect to unsecured Wi-Fi networks.
- Limit sharing personal information - Be cautious about sharing personal information on social media and other online platforms. Information like your full name, address, phone number, and date of birth can be used by identity thieves.
If you are one of the millions of people that do business with Ticketmaster every year, keep your eyes and ears open to know exactly what kind of exposure you have to this particular hack. If you would like to follow cybersecurity and business technology, please return to our blogs soon.
