FinWise Bank data breach overview:
- Who: FinWise Bank reported a data breach to the Maine Attorney General’s Office.
- Why: The bank says a former employee accessed customer data after their employment ended.
- When: The data breach occurred in May 2024.
- How to Get Help: Did you receive a letter notifying you that your information was compromised in the Finwise Bank data breach? See if you’re eligible to pursue compensation.
A data breach at FinWise Bank has exposed the personal information of 689,000 individuals, the bank announced. This FinWise Bank data breach has raised significant concerns among customers.
The Utah-based bank reported the breach to the Maine Attorney General’s Office on behalf of payment solutions provider American First Finance (AFF), Security Week reports.
The data breach involved a former FinWise employee accessing data after their employment ended, the bank says. The employee accessed AFF data, including personal information, according to the notification sent to individuals impacted.
It’s unclear if the former FinWise employee accessed other data, or if the employee acted maliciously or it was a case of negligence, Security Week reports.
The breach occurred in May 2024, the bank says. Affected individuals are being offered 12 months of free credit monitoring and identity theft protection services.
FinWise declined to comment on the breach, citing pending litigation filed by several individuals impacted by the data breach, including a FinWise Bank class action lawsuit.
Data breach exposes Social Security numbers, other personal information
The FinWise data breach exposed personal information including individuals’ full names and Social Security numbers, the bank says in its notification letter.
FinWise says it immediately launched an investigation in consultation with outside cybersecurity professionals after learning of the incident. The investigation determined certain files containing personal information may have been accessed or acquired as a result of the breach.
The bank is offering affected individuals 12 months of free credit monitoring and identity theft protection services. The bank recommends individuals place a fraud alert or security freeze on their credit files and obtain a free credit report to monitor for any suspicious activity.
FinWise says it is committed to maintaining the privacy of personal information in its possession and has taken precautions to safeguard it.
Recently, the Commonwealth Business Bank (CBB) announced a data breach that compromised customers’ sensitive information as far back as early 2024.
What do you think about the FinWise Bank data breach? Let us know in the comments.
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