Recently, NVE Bank announced that the personal information of approximately 19,039 individuals was compromised in a data breach. Our data breach attorneys are going to begin interviewing victims of the breach to determine what damages they sustained and what legal claims may be available to them. If you recently learned your information was compromised in the recent breach, reaching out to a data breach lawyer is the first step to understanding all of your options.
Recently, NVE Bank announced that the personal information of approximately 19,039 individuals was compromised in a data breach. Our data breach attorneys are investigating this data security incident to determine if consumers could have the grounds for a data breach class action lawsuit.
The company recently reported that, on July 29, 2021, an unauthorized party gained access to certain files on its servers. A subsequent investigation revealed that the files may have contained the following information:
Names
Social Security numbers
Anyone in receipt of an NVE Bank data breach notification letter may now face an increased risk of identity theft and other financial losses. Our data breach attorneys will be investigating this recent cybersecurity incident to determine whether the company took the necessary steps to keep your data secure and whether those impacted by the breach can pursue a data breach class action lawsuit.
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 may use the information to commit identity theft or for other criminal purposes. Sometimes hackers will sell the data they obtain through a cyberattack to the highest bidder.
No one can tell with certainty why a hacker targeted your data in a data breach or what they plan to do with it, but the fact that your sensitive information is in the hands of an unauthorized party puts you at a greater risk of identity theft.
As consumers, we all provide personal data to companies 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 are investigating data events like this security breach to determine the legal rights of consumers who trusted corporations with their sensitive information. Often, hackers target companies that rely on outdated or otherwise inadequate data security measures. If it is determined that NVE Bank did, in fact, fail to properly protect consumers’ data in some way, the individuals affected may be eligible to pursue compensation for their financial losses.
If you received a data breach letter from the company that experienced a data security incident, it means that an unauthorized person—likely a criminal—may have accessed, viewed, and retained your personal information. While the company cannot know why the third party sought out your information and what they plan to do with it, the situation justifies a certain level of precaution on your part.
Below are a few ways to protect yourself from identity theft and the other possible financial risks that can stem from a data breach:
Carefully read the data breach letter to determine what information of yours was accessible;
Make a copy of the letter for your records;
Enroll in the free credit monitoring service provided to you (you will need information contained in the data breach letter to do this);
Change all your passwords and security questions for any online accounts;
Enable two-factor authentication, where it is available;
Regularly review your credit card and bank account statements for any signs of suspicious activity;
Monitor your credit report for any unexpected changes that may be a sign of identity theft;
Contact one of the major credit bureaus to request they add a fraud alert to your profile;
Consider putting in place a credit freeze with the three major credit bureaus; and
Notify your banks and credit card companies of the data breach.
When you put a freeze on your credit, it serves to prevent access to your credit report. You would have to specifically authorize any requests to access your credit report. It doesn’t cost you anything to initiate a credit freeze, and the freeze remains until you go through the process of removing it—although you may authorize temporary lifts of the credit freeze if you will be applying for credit through any lender or creditor. Even though the Identity Theft Resource Center (ITRC) calls putting in place a credit freeze the “single most effective way to prevent a new credit/financial account from being opened,” 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, it is highly recommended that individuals who received notice that their data may have been compromised immediately reach out to an experienced data breach attorney.
Companies have a legal duty to protect consumers’ personal information. While developing and implementing a comprehensive and up-to-date data security system is costly, this 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 care doesn’t necessarily make this company legally responsible. However, if a company fails to take appropriate actions to protect consumers’ sensitive information, it may face liability through a data breach class action lawsuit.
If you received a data breach notification letter, it is important that you not only protect yourself from possible fraud but also preserve your legal rights by speaking to a data breach attorney. Consumer privacy lawyers are undertaking investigations in legal matters involving all types of data breaches, ransomware attacks, and cyberattacks on a no-win, no-fee basis.
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 advise you of a recent incident that may have involved some of your personal information. Currently, we have no evidence indicating that your information was actually viewed 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 identity theft. Nonetheless, we are providing you this notice with guidance on what you can do to
protect yourself, should you feel it is appropriate to do so.
We recently learned that an unauthorized third party gained access to one email account at NVE Bank. Upon discovering the incident, we promptly secured the email account and began an internal investigation. We also engaged a forensic security firm 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 any personal information, and recently determined that the email account contained your name and Social Security number.
Although we are not aware of any instances of fraud or identity theft involving your information, we are offering a complimentary one-year membership of Experian IdentityWorksSM Credit 3B. This product helps detect possible misuse of your personal information and provides you with identity protection services focused on immediate identification and resolution of identity theft. IdentityWorks Credit 3B is completely free to you, and enrolling in this program will not hurt your credit score. For more information on identity theft prevention and IdentityWorks Credit 3B, including instructions on how to activate your complimentary one-year membership, please see the additional information provided in this letter. You can also find more information on steps to protect yourself against identity theft or fraud in the enclosed 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 enhancing our technical security measures. NVE Bank has also implemented various operational safeguards.
We value the trust you place in us to protect your privacy, take our responsibility to safeguard your personal information seriously, and apologize for any inconvenience or concern this incident might cause. For further information and assistance, please call 833-613-0922 from 9:00 a.m. – 7:00 p.m. EST, Monday through Friday.
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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.
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