A data breach at FinWise Bank, caused by a former employee, has exposed the personal information of 689,000 customers of its partner, American First Finance (AFF). The incident, which occurred on May 31, 2024, was reported to the Maine Attorney General's office by the Utah-based community bank.
An investigation supported by external cybersecurity professionals found that a former employee of FinWise Bank retained access to AFF data after their employment had ended. The bank did not provide further technical details about the breach, and it remains unclear if the former employee's actions were intentional or simply due to negligence.
As a lending partner, FinWise Bank funds consumer loans while American First Finance serves as the technology provider, managing loan applications and servicing. The breach may have impacted loans, lease-to-own accounts, and retail installment sales agreements for the affected individuals.
In response to the security incident, FinWise Bank is offering 12 months of free credit monitoring and identity theft protection services to everyone who was affected.
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