FinWise Fiasco: Ex-Employee Data Breach Leaves 700,000 Customers Vulnerable
FinWise Bank is in hot water after a former employee allegedly accessed customer data post-employment. Nearly 700,000 affected individuals are getting free credit monitoring. This incident adds FinWise to the list of companies burned by malicious insiders, joining Coinbase and Rippling in the Hall of Shame. If data breaches were a sport, it’d be a team effort!
Hot Take:
When your ex-employee sneaks off with your customers’ data, it’s not just a breach, it’s a breakup gone wrong! FinWise Bank might want to reconsider their definition of “former employee,” especially when said employee turns into a data Houdini. It’s like getting dumped and realizing they took half your wardrobe—except this time, it’s your customers’ data and credit scores. Oops!
Key Points:
– FinWise Bank is alerting 700,000 customers about a potential data breach involving a former employee.
– The breach affected data linked to American First Finance, a lender service utilized by FinWise.
– Incident occurred on May 31, 2024, but FinWise only discovered it on June 18.
– Affected customers get 12 months of free credit and identity theft monitoring.
– Insider breaches are on the rise, with high-profile cases like Coinbase and Rippling also recently affected.