July 2, 2024 at 12:03PM
Affirm, a fintech company, disclosed a data breach at its third-party issuer, Evolve Bank & Trust, affecting personal information of its cardholders. Evolve, a financial services provider, faces an investigation after a cybercriminal organization illegally obtained and released data. Affirm, Wise, and Bilt are among the fintech firms potentially impacted, with Evolve assuring ongoing investigation and individual notifications to affected parties.
From the meeting notes, it is evident that there has been a significant data breach at Evolve Bank & Trust, impacting multiple fintech firms, including Affirm, Wise, and Bilt. The breach has led to the exposure of personal and financial information such as names, Social Security Numbers, bank account numbers, and contact information.
Affirm, a client of Evolve, has confirmed that their customers’ information may have been compromised as a result of the breach. While Evolve has taken steps to contain the incident and enhance security measures, the investigation is ongoing, and affected firms including Affirm, Wise, and Bilt are advising heightened vigilance and monitoring for potential fraudulent activity.
It is also mentioned that Evolve will be sending individual notifications to all persons confirmed to have been impacted by the breach on July 8, 2024. Given the severity of the breach, it is anticipated that further fintech companies may also disclose potential data breaches as the investigation progresses.
These are the key takeaways from the meeting notes regarding the Evolve data breach and the potential impact on the involved fintech firms.