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Cyber attack hits 689,000 Americans: FinWise Bank data at risk!
FinWise Bank warns of data breach affecting 689,000 Americans. Identity data may be compromised.
Cyber attack hits 689,000 Americans: FinWise Bank data at risk!
FinWise Bank has warned its customers of a major cybersecurity incident affecting personal and financial information of approximately 689,000 Americans. As reported by Daily Hodl, this data breach was committed by a former American First Finance (AFF) employee. who had access to the company's database at the end of his employment.
The incident occurred on May 31, 2024, but was only discovered on June 18, 2025. Most affected are customers of AFF, a technology-driven financial services company that offers solutions for consumers with less than perfect credit. FinWise itself has a contract with AFF to provide installment loans to consumers and serves as the bank that provides and finances these loans.
Does identity theft occur?
The potentially compromised data includes names, addresses, dates of birth, Social Security numbers and financial account details, according to Claim Depot. This could significantly increase the risk of identity theft, putting many customers on alert. FinWise, an FDIC-insured bank based in Utah, immediately began an investigation. This is done in collaboration with external cybersecurity experts in order to clarify the situation quickly and efficiently.
In response to the incident, FinWise has taken measures to better protect customer data. Affected AFF customers will be offered one year of free credit monitoring and identity protection services to help them identify and mitigate potential risks early.
The role of AFF and FinWise
American First Finance uses an online platform through which customers can apply for and manage loans. The cooperation structure between AFF and FinWise enables the bank to provide the financial resources for the products that AFF offers. This close collaboration shows how important it is to maintain relationships of trust between fintech companies and their partner banks.
The events surrounding this data breach raise questions about the security of personal data in the digital financial world. Customers are now required to closely monitor their accounts and actively look for possible signs of identity abuse. During this time, as cyber attacks continue to increase in sophistication and frequency, it will be essential for banks like FinWise to take proactive measures and continually improve their security protocols.