Finastra Technology has agreed to a $3,125,000 class-action settlement addressing claims that a targeted cyberattack on its Secure File Transfer Platform exposed sensitive personal and financial data. The breach allegedly placed names, dates of birth, Social Security numbers, and financial account numbers at risk.
According to a report filed with the Massachusetts Office of Consumer Affairs and Business Regulation, unauthorized access occurred between October 31 and November 8, 2024, with Finastra discovering the incident on November 7, 2024. Cybersecurity research website KrebsOnSecurity.com noted that the breach may be linked to a cybercriminal who claimed to have stolen 400 gigabytes of data from the firm and listed it for sale on the dark web in November 2024. Finastra denies any wrongdoing, and the court has not yet determined liability.
All living U.S. residents who were notified that their private information may have been impacted are eligible to seek either a pro rata cash payment or up to $2,500 for documented out-of-pocket losses.
Claims must be submitted by November 27 through the official settlement website. Individuals wishing to opt out or file objections must do so by November 13, ahead of a final approval hearing scheduled for December 14 in Broward County, Florida.
