A bank with billions of dollars in assets will pay

📌 A bank with billions of dollars in assets will pay thousands of dollars to victims of a data breach after a cyberattack exposed names, social security numbers and bank information.

Victims of hacked bank accounts could receive up to $3,000 after a class action lawsuit settlement. . Rari

– Victims of hacked bank accounts could receive up to $3,000 after a class action lawsuit settlement.

Arizona-based Evolve Bank and Trust customers who filed a claim and provided supporting documentation for loss of funds due to a data breach could receive up to $3,000, according to the settlement administration’s website.

In addition, a $20 flat fee will be available, but applicants can choose only one of the options, not both.

In addition to choosing one of the payment options, members will be able to select one (1) year of monitoring that will provide the following benefits: Credit monitoring, real-time alerts, and up to $1,000,000 in identity theft coverage.

Claims must be submitted by October 30. A final approval hearing is scheduled for November 14.

The lawsuit against Evolve Bank and Trust was filed in January, alleging that cybercriminals gained access to confidential information by hacking into the bank’s information systems.

In a notice sent to customers in July 2024, Evolve Bank said the data breach occurred between February and May 2024.

“…the attackers allegedly downloaded information from our databases and a file-sharing service that included the names, Social Security numbers, bank account numbers and contact information of most of our personal banking customers, as well as customers of our Open Banking partners. We also learned that the personal information of our employees was likely affected as well. “