FinTech firm Wise says Evolve Bank data breach compromised customers' personal data

UK-based financial technology company Wise said it suffered a data security incident following a major cyber attack on its U.S.-based financial partner Evolve Bank.

 

In a notice on its website, Wise said that it worked with Evolve Bank & Trust between 2020 and 2023 “to provide USD account details to Wise customers.” Recently, Evolve Bank suffered a significant data security incident that compromised the sensitive personal information of its clients’ customers.

 

In a data security incident notice posted on its website, Evolve bank said it is “investigating a cybersecurity incident involving a known cybercriminal organisation that appears to have illegally obtained and released on the dark web the data and personal information of some Evolve retail bank customers and financial technology partners’ customers.”

 

Evolve notified relevant law enforcement authorities about the incident and worked with them to resolve the issue at the earliest.

 

“Based on what our investigation has found and what we know at this time, we are confident this incident has been contained and there is no ongoing threat,” the bank said.

 

According to the notice, Wise shared sensitive personal information of its customers with the bank, including their names, addresses, dates of birth, contact details, Social Security Numbers or EIN for US customers, and other identity document numbers for non-US customers. As of now, Evolve has not shared what data was impacted during the incident.

 

“We no longer work with Evolve Bank & Trust, and USD account details are provided by a different bank. However, we’re actively investigating this situation as keeping your information and money safe is our top priority,” Wise said.

 

The FinTech company has confirmed that the incident did not have a direct impact on its own systems. Customers’ Wise account credentials, including password are safe and they can continue to use USD account details. Also, Wise cards were also not affected by the incident, and customers can continue to use the same.