Former Employee’s Sneaky Data Heist: FinWise Bank’s 689K Customer Oopsie!
FinWise Bank discovered a former employee had accessed personal data over a year after the breach. Affected customers received credit monitoring, while FinWise urges vigilance against fraud. FinWise’s incident highlights the need for better insider threat detection, as Kevin Kirkwood notes that 90% of firms are underprepared.
Hot Take:
It seems FinWise Bank took the “keep your friends close and your enemies closer” mantra a bit too literally. Letting an ex-employee have the keys to the kingdom sounds like a great plot for a soap opera but not so much for a bank’s data security strategy. Maybe next time, they’ll change the locks… or at least the passwords. Until then, 689,000 customers are left wondering if their financial information is being used to buy luxury yachts or just a really nice coffee machine.
Key Points:
– A former FinWise Bank employee accessed sensitive data after leaving the company, impacting 689,000 customers.
– The breach wasn’t discovered until over a year later, which is faster than some sloths but slower than anyone would like.
– FinWise is offering affected customers 12 months of free credit monitoring and identity theft protection.
– Many organizations, like FinWise, struggle with detecting insider threats due to inadequate resources.
– Experts suggest prioritizing access segmentation and enhancing employee education to prevent future breaches.