Data breaches

Plaintiffs say Team 313 stole Social Security numbers and IDs. Chime says no data left its systems. None of the suits has its own evidence.

Plaintiffs allege the banks failed to safeguard names, Social Security numbers and account data after a breach at a vendor neither bank has named.

Both banks deny their networks were breached. Experts say the data likely points to a single vendor that was compromised.

The industry reported $275 million in losses from internet crimes last year, a 59% annual increase as losses nationwide surpassed $20 billion.

Social Security numbers, business addresses and other sensitive information were exposed. The company has fixed the error and refunded the victims.

Stories about data breaches, fraud and one neobank were reader favorites this year.

The Troy, Michigan-based lender and servicer faces at least seven lawsuits over a hack in June allegedly perpetrated by a known ransomware gang.

Six class action lawsuits seek over $5 million after an insider accessed sensitive records.

Companies that lack artificial intelligence governance may spend hundreds of thousands of dollars more in responding to cyberattacks, IBM found.

A security researcher found a database exposing names, addresses, and bills apparently belonging to Willow Pay, a fintech for short-term financing on bills.

2024 brought important issues front and center for bankers, ranging from the rise of artificial intelligence to the fall of banking-as-a-service.

The breach, which occurred earlier in November, did not directly impact customer operations, but a threat actor stole data meant for customers.

The four lawsuits allege that attackers stole members' Social Security numbers, among other data. Patelco has not yet confirmed whether any data was stolen.

Wise, Affirm and Bilt Rewards are among the seven fintechs whose customers' data has gotten tied up in the breach. The number of affected companies is likely to grow.

In this month's roundup of top banking news: a cease-and-desist issued by the Federal Reserve, high CFO turnover, the end of Chevron deference and more.

The threat actor Sp1d3r posted an ad for the stolen data on Wednesday. Truist said the October breach is not related to a campaign by the same criminal group.

Financial Business and Consumer Solutions disclosed a February breach in April and recently disclosed an expanded victim count. The company faces a class action lawsuit.

The attack is one of three major incidents the lender has suffered in the past three years.

Bank of America, Citi and Navy Federal are among banks and credit unions to recently manage through unforeseen challenges.

Customers with deferred compensation plans at the bank had personally identifiable information compromised through a third party, Infosys McCamish.