Texas Firm Upbound Suffers $13M Fraud Lease Scheme

Texas-based Upbound Group, Inc. reported a data breach due to cyber incidents resulting in $13 million in fraudulent contract losses, particularly affecting its Acima segment. Hackers accessed non-sensitive customer information, which was allegedly used to create fraudulent lease-to-own agreements. Upbound is collaborating with law enforcement and cybersecurity experts while maintaining that the breach is not material. The identity of the attackers remains unknown, as no cybercrime group has claimed responsibility.