Data Breach Alert: NVE Bank | Console and Associates, PC

Recently, NVE Bank announced that the personal information of around 19,039 people was compromised in a data breach. Our data breach attorneys will begin interviewing the victims of the breach to determine the damages they have suffered and the legal claims that may be available to them. If you recently learned that your information was compromised in the recent breach, contact a data breach lawyer is the first step to understanding all of your options.

Recently, NVE Bank announced that the personal information of around 19,039 people was compromised in a data breach. Our data breach lawyers are investigating this data security incident to determine whether consumers may have grounds for a data breach class action lawsuit.

What to know about the NVE Bank data breach

The company recently reported that on July 29, 2021, an unauthorized party gained access to certain files on its servers. Further investigation revealed that the files may contain the following information:

  • Names

  • Social security numbers

Anyone who receives a data breach notification letter from NVE Bank may now face an increased risk of identity theft and other financial loss. Our data breach attorneys will investigate this recent cybersecurity incident to determine if the company has taken the necessary steps to keep your data secure and if those affected by the breach can file a data breach class action lawsuit. .

What is a data breach?

A data breach occurs when a hacker or other unauthorized party secretly gains access to sensitive consumer information stored on a company’s servers through some kind of cyberattack. Once a hacker obtains consumer data, they can use that information to commit identity theft or for other criminal purposes. Sometimes hackers sell the data they obtain through a cyberattack to the highest bidder.

No one can say for sure why a hacker targeted your data during a data breach or what they plan to do with it, but having your sensitive information in the hands of an unauthorized party exposes you to a increased risk of identity theft.

As consumers, we all provide personal data to businesses for a variety of reasons. We trust these companies to protect our private data and keep this information secure. Unfortunately, data breaches happen frequently.

Our attorneys investigate data events like this security breach to determine the legal rights of consumers who trusted companies with their sensitive information. Often, hackers target companies that rely on outdated or inadequate data security measures. If it is determined that NVE Bank did, in fact, fail to adequately protect consumer data in some way, affected individuals may be eligible for compensation for their financial losses.

What can you do after a data breach?

If you received a data breach letter from the company that suffered a data security incident, it means that an unauthorized person, possibly a criminal, may have accessed, viewed and retained your personal information . Although the company cannot know why the third party sought your information and what they intend to do with it, the situation warrants a certain level of caution on your part.

Below are some ways to protect yourself against identity theft and other possible financial risks that can arise from a data breach:

  1. Read the data breach letter carefully to determine what information about you was accessible;

  2. Make a copy of the letter for your records;

  3. Sign up for the free credit monitoring service provided to you (you will need the information in the data breach letter to do this);

  4. Change all your passwords and security questions for all online accounts;

  5. Enable two-factor authentication, where available;

  6. Regularly review your credit card and bank account statements for any signs of suspicious activity;

  7. Monitor your credit report for any unexpected changes that could be a sign of identity theft;

  8. Contact one of the major credit bureaus to ask them to add a fraud alert to your profile;

  9. Consider setting up a credit freeze with the three major credit bureaus; and

  10. Notify your banks and credit card companies of the data breach.

When you put a freeze on your credit, it is to prevent access to your credit file. You will need to specifically authorize any request to access your credit report. It costs you nothing to initiate a credit freeze, and the freeze remains until you go through the removal process, although you may allow temporary credit freeze liftings if you apply for credit from a lender or a creditor. Even though the Identity Theft Resource Center (ITRC) calls the implementation of a credit freeze the “most effective way to prevent the opening of a new credit/financial account”, only 3% of consumers whose sensitive personal data has been compromised actually use this tool to protect their credit and reduce the risk of identity theft.

To protect and preserve their legal rights, individuals who have been notified that their data may have been compromised are strongly advised to immediately contact a data breach lawyer.

Data breach attorneys are investigating this security incident and the possibility of a data breach class action lawsuit

Businesses have a legal obligation to protect consumers’ personal information. Although developing and implementing a comprehensive and up-to-date data security system is expensive, it is a necessary cost of doing business in an environment where cyberattacks and data breaches are common. .

Data breach laws are complex, and just because your information may have been accessed while in NVE Bank’s custody doesn’t mean that company is legally liable. However, if a business fails to take appropriate steps to protect sensitive consumer information, it can be held liable through a data breach class action lawsuit.

If you have received a data breach notification letter, it is important to not only protect yourself from possible fraud, but also to safeguard your legal rights by speaking to a data breach attorney. Consumer privacy attorneys investigate legal matters involving all types of data breaches, ransomware attacks, and cyberattacks, without gain or expense.

Find a copy of the data breach letter here.

Dear [RECIPIENT]:

NVE Bank values ​​and respects the privacy of your information, which is why we are writing to inform you of a recent incident which may have involved some of your personal information. Currently, we have no evidence that your information has actually been accessed by an unauthorized third party and we have no reason to believe that your personal information has been misused for the purpose of committing fraud or theft. of identity. Nevertheless, we provide you with this review with advice on what you can do to

protect yourself, if you feel it is appropriate to do so.

We recently learned that an unauthorized third party had gained access to an email account at NVE Bank. After discovering the incident, we quickly secured the email account and launched an internal investigation. We have also engaged a forensic security company to investigate and confirm the security of our email and computer systems. We reviewed the contents of the email account to determine if it contained personal information and recently determined that the email account contained your name and social security number.

Although we are not aware of any cases of fraud or identity theft involving your information, we offer a free one-year membership to Experian IdentityWorksSM Credit 3B. This product helps detect potential misuse of your personal information and provides you with identity protection services focused on immediately identifying and resolving identity theft. IdentityWorks Credit 3B is completely free for you, and signing up for this program will not hurt your credit score. For more information about Identity Theft Prevention and IdentityWorks Credit 3B, including instructions on how to activate your free one-year subscription, please see the additional information provided in this letter. You can also find more information about the steps you can take to protect yourself against identity theft or fraud in the attached Additional Important Information Sheet. In addition to the actions described above, we have taken steps to reduce the risk of this type of incident occurring in the future, including but not limited to improving our technical security measures. . NVE Bank has also implemented various operational safeguards.

We appreciate the trust you place in us to protect your privacy, take our responsibility to protect your personal information seriously, and apologize for any inconvenience or concern this incident may cause. For more information and assistance, please call 833-613-0922 from 9:00 a.m. to 7:00 p.m. EST, Monday through Friday.

Shawanda H. Saldana