Paycom Software Confirms That An Unauthorized Third Party Downloaded Copies Of Files From The MOVEit Server, Gaining Access To Data
Portfolio Pulse from Benzinga Newsdesk
Paycom Software confirmed that an unauthorized third party exploited a vulnerability in Progress Software's MOVEit file transfer software to download copies of files from the MOVEit server. This resulted in the exposure of data of certain Paycom clients and their employees, including personally identifiable information of less than 0.4% of all persons for whom the company stored client data during 2022.
July 20, 2023 | 9:32 pm
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NEGATIVE IMPACT
Paycom Software's data was breached due to a vulnerability in a vendor's software, exposing client data.
The data breach directly impacts Paycom Software as it exposes their client data, potentially damaging their reputation and client trust. This could lead to a decrease in their stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Progress Software's MOVEit software was found to have a vulnerability that led to a data breach at Paycom Software.
The vulnerability in Progress Software's MOVEit software directly led to the data breach at Paycom Software. This could damage Progress Software's reputation and trust among its clients, potentially leading to a decrease in their stock price in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80