Almeida Law Group is investigating a data breach at Industrial Acceptance Corporation. The breach occurred on February 22, 2025 and was discovered on February 24, 2025. If you were affected, contact Almeida Law Group.
About Industrial Acceptance Corporation
Industrial Acceptance Corporation (IAC) is a consumer finance company specializing in subprime auto lending, serving independent auto dealerships and credit-challenged buyers primarily in the Northeast United States. Founded in 1955 and headquartered at 138 Orange Street in New Haven, Connecticut, IAC describes itself as one of the top non-prime auto lenders on the East Coast. The breach exposed names, Social Security numbers, and driver’s license numbers — information that can be used to commit identity theft and financial fraud.
What Happened?
Industrial Acceptance Corporation was listed in a Maine Attorney General filing reporting an external system breach caused by hacking. The INC ransomware group claimed responsibility for the attack. The incident began on February 22, 2025, and IAC discovered unauthorized activity in its network on February 24, 2025. Around March 4, 2025, IAC learned that files had been exfiltrated from its network. The company commenced a detailed review of the affected files to identify what personal information was involved and who was affected. That review was not completed until May 11, 2026 — approximately 15 months after the breach was discovered. Consumer notification letters were mailed on May 28, 2026. In total, 79,216 individuals were affected. The compromised information included names, Social Security numbers, and driver’s license numbers.
INC Ransom is a ransomware-as-a-service (RaaS) operation that has been active since July 2023 and is tracked by MITRE as G1032. The group is known for double-extortion tactics, meaning it both encrypts victims’ systems and exfiltrates data as additional leverage. It has targeted organizations across industrial, healthcare, and education sectors in the United States and Europe.
Key Facts at a Glance
- Company or Organization: Industrial Acceptance Corporation
- Industry: Financial Services — Subprime Auto Financing / Consumer Finance
- Location: 138 Orange Street, New Haven, CT 06510
- Incident type: External system breach (hacking / ransomware)
- Date of breach: February 22, 2025
- Date breach discovered: February 24, 2025
- Date of consumer notification: May 28, 2026
- Total persons affected: 79,216
- Identity theft protection offered: Yes — 12 months of identity monitoring through CyberScout, a TransUnion company
- Source: Maine AG Filing — Industrial Acceptance Corporation; MITRE ATT&CK — INC Ransom (G1032); IAC Credit — Official Website
What Should You Do?
If you received a notice from IAC, consider enrolling in the 12 months of free identity monitoring through CyberScout before any deadline stated in your letter. Whether or not you enroll, you should place a fraud alert or credit freeze with the three major credit bureaus — Equifax, Experian, and TransUnion — to make it harder for someone to open new accounts in your name. Review your credit reports for unfamiliar accounts or inquiries at AnnualCreditReport.com, and monitor your existing financial accounts for suspicious activity. If you believe your information has already been misused, visit IdentityTheft.gov for step-by-step recovery guidance.
Your Legal Rights
If your personal information was involved in this breach, you may have legal rights depending on the facts of the incident and the law in your state. Almeida Law Group represents consumers in data breach and privacy litigation and can help you evaluate whether you may have a claim. Contact us at (708) 529-5418 or through our contact page for a free case evaluation.
