New York-based Debt Collector Company Files for Bankruptcy Due to Data Breach
New York-Based Debt Collector Company Files for Bankruptcy Due to Data Breach Retrieval-Masters Creditors Bureau, Inc., a New York-based company that collects debt on behalf of third parties under the name American Medical Collection Agency, has filed for bankruptcy, citing large-scale data breach as the main cause of the bankruptcy. Russell Fuchs, Founder and Chief Executive Officer of Retrieval-Masters Creditors Bureau, Inc., filed last June 17 a bankruptcy petitionbefore the U.S. District Court for the Southern District of New York. Fuchs, who has a total of 40 years of experience working at the company, said that the large-scale data breach that the company had been exposed to and the avalanche of events thereafter resulted in a “severe drop-off” of the company’s business, which ultimately led the company to seek relief…