Over $1.4 million in settlement cash is about to be handed out to clients at a large US bank after a data breach compromised their privacy and security.
Webster Bank and several firms linked with it were accused of failing to protect the personally identifiable information of its customers during a data leak between November 27, 2022, and January 22, 2023.
The sensitive information leaked includes the social security numbers, financial account details and the full names of Webster Bank clients.
The bank uses the services of Guardian Analytics, which monitors financial transactions and was ultimately responsible for leaking the data of Webster Bank’s customers to an unidentified third-party hacker.
Webster and Guardian Analytics have not admitted any legal wrongdoing in the incident, but have agreed to settlement of $1.4 million which is to be distributed to the bank’s clients.
Clients affected by the mishap have until April 24th to determine whether they’re eligible for cash payments and submit a claim through Webster Bank.
The final approval of the settlement will be held in a New Jersey court on April 23rd.
Banking titan Wells Fargo also said this month that it suffered a data breach that exposed sensitive information of at least two of its customers.
In a letter, the California-based financial giant says personal information and mortgage account numbers were exposed.
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