$3,125,000 Finastra Data Breach Settlement: Payouts Possible for Massachusetts Residents
A multimillion-dollar class-action settlement could put cash in the hands of people whose personal and financial information was exposed in a 2024 financial software data breach.
Finastra Technology has agreed to a $3,125,000 settlement over claims that a targeted cyberattack on its Secure File Transfer Platform allegedly left names, dates of birth, Social Security numbers and financial account numbers at risk, reports MassLive.
Unauthorized access ran from October 31st to November 8th of 2024, and Finastra discovered the incident on November 7th of 2024, according to a report the firm filed with the Massachusetts Office of Consumer Affairs and Business Regulation.
The breach may have been connected to a cybercriminal who claimed to have stolen 400 gigabytes of data from Finastra and listed the information for sale on the dark web in November 2024, according to the cybersecurity research website KrebsOnSecurity.com.
Finastra denies that it did anything wrong, and the court has not decided who is right.
All living US residents who notified that their private information may have been impacted are eligible to seek a pro rata cash payment or up to $2,500 for documented out-of-pocket losses.
Claims must be filed by November 27th through the official settlement site.
Opt-outs and objections are due by November 13th, with a final approval hearing set for December 14th in Broward County, Florida.
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