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Newtek Business Services unit reports cybersecurity breach

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Newtek Business Services unit reports cybersecurity breach

Newtek Business Services Corp. reported that an unauthorized third party misappropriated three domain names that its unit Newtek Technology Solutions Inc. uses to support customer management of hosted websites.

Newtek Technology Solutions has notified its shared webhosting customers of the incident and has helped re-route web traffic to minimize any service disruptions to its clients.

Based on the investigation to date, management believes that attackers may have acquired some of the company's webhosting customers' information or gained access to webhosting servers.

While the investigation remains ongoing, the unit has taken a range of steps to secure its system, enhance its security protections, improve access controls and prevent future unauthorized activity.

It is also working with forensic investigators to fully assess the incident and take additional remedial measures.

As a result of the incident, Newtek Business Services reduced the fair value of its investment in Newtek Technology Solutions to $12.4 million at Dec. 31, 2017, from $16.0 million as of Sept. 30, 2017.