Billion-Dollar Bank Handing $1,500,000 To Current and Former Customers To Settle Class Action Lawsuit Over Data Breach – Crypto News – Crypto News
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Billion-Dollar Bank Handing $1,500,000 To Current and Former Customers To Settle Class Action Lawsuit Over Data Breach Billion-Dollar Bank Handing $1,500,000 To Current and Former Customers To Settle Class Action Lawsuit Over Data Breach

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Billion-Dollar Bank Handing $1,500,000 To Current and Former Customers To Settle Class Action Lawsuit Over Data Breach – Crypto News

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A billion-dollar bank has agreed to pay $1.5 million to current and former customers affected by a data breach.

According to the settlement administrator’s portal, the Florida-based SouthState Bank has agreed to establish a $1.5 million cash fund to reimburse victims of a data breach that occurred on February 7th of 2024.

The cybersecurity incident occurred after an unauthorized party breached SouthState Bank’s computer systems and accessed sensitive data belonging to current and former customers.

“This information may have included: names, dates of birth, addresses, telephone numbers, financial account numbers, and Social Security numbers.”

The settlement class members who provide documented proof of losses arising from the data breach, such as identity theft-related fraud, will receive up to $3,500 each.

Pro rata payments that will be determined by the number of total claims will also be handed out to victims of the data breach. The SouthState Bank settlement fund will also provide credit monitoring services that offer insurance coverage for identity theft and fraud to all the settlement class members.

To qualify for the payments, victims must submit a claim by June 15th. The final approval hearing for the settlement will be held on June 22nd. To object or to opt out of the settlement, victims must file a request indicating their intentions by May 15th.

Despite agreeing to the settlement, SouthState Bank denies all the claims made in the class action lawsuit, which was filed weeks after the data breach.

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Billion-Dollar Bank Handing $1,500,000 To Current and Former Customers To Settle Class Action Lawsuit Over Data Breach Billion-Dollar Bank Handing $1,500,000 To Current and Former Customers To Settle Class Action Lawsuit Over Data Breach

others

Billion-Dollar Bank Handing $1,500,000 To Current and Former Customers To Settle Class Action Lawsuit Over Data Breach – Crypto News

Published

1 day ago

on

A billion-dollar bank has agreed to pay $1.5 million to current and former customers affected by a data breach.

According to the settlement administrator’s portal, the Florida-based SouthState Bank has agreed to establish a $1.5 million cash fund to reimburse victims of a data breach that occurred on February 7th of 2024.

The cybersecurity incident occurred after an unauthorized party breached SouthState Bank’s computer systems and accessed sensitive data belonging to current and former customers.

“This information may have included: names, dates of birth, addresses, telephone numbers, financial account numbers, and Social Security numbers.”

The settlement class members who provide documented proof of losses arising from the data breach, such as identity theft-related fraud, will receive up to $3,500 each.

Pro rata payments that will be determined by the number of total claims will also be handed out to victims of the data breach. The SouthState Bank settlement fund will also provide credit monitoring services that offer insurance coverage for identity theft and fraud to all the settlement class members.

To qualify for the payments, victims must submit a claim by June 15th. The final approval hearing for the settlement will be held on June 22nd. To object or to opt out of the settlement, victims must file a request indicating their intentions by May 15th.

Despite agreeing to the settlement, SouthState Bank denies all the claims made in the class action lawsuit, which was filed weeks after the data breach.

Follow us on X, Facebook and Telegram

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

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