Industry - Data Breach
Executive Summary
Evertec Group, a payment processing company, is facing three proposed federal class-action lawsuits after disclosing in June that unauthorized parties potentially accessed customer data through a third-party support platform, primarily affecting financial institutions and their customers in Puerto Rico. The complaints allege the company failed to implement adequate cybersecurity measures to protect personal information including names, contact details, transaction records, and payment card nu...
What Happened
In May 2024, Evertec Group LLC, a payment processing and financial technology company, discovered that unauthorized parties potentially accessed customer data through a third-party support platform. The company disclosed the incident on June 9 in a securities filing, stating it learned of the potential unauthorized access on May 13. Three federal class-action lawsuits were filed on June 12 in the U.S. District Court for the District of Puerto Rico by plaintiffs Maribel Torres, Maria Aquino, and Miguel Álvarez, alleging the company failed to implement adequate cybersecurity measures.
Who Is Affected
The incident primarily affected financial institution clients in Puerto Rico and their customers. Personal information potentially exposed includes names, contact information, transaction records, and payment card numbers. The plaintiffs claim affected individuals face heightened risk of identity theft, fraud, loss of privacy, and costs associated with credit monitoring and account protection measures.
Why It Matters
This breach involves a payment processor handling sensitive financial data for multiple institutions, demonstrating the cascading risk when intermediary service providers experience security failures. The lawsuits allege Evertec should have anticipated being a target for cybercriminals given the volume and value of financial information it maintained. The incident adds to growing concerns about third-party platform vulnerabilities in the financial services sector.
What You Should Do
If you are a customer of a financial institution in Puerto Rico that uses Evertec's services, monitor your bank and credit card statements closely for unauthorized transactions. Enable fraud alerts with credit bureaus and consider placing a credit freeze to prevent new accounts from being opened in your name. Contact your financial institution directly to confirm whether your information was affected and what protective measures they are offering, such as free credit monitoring services.
Summary generated from verified sources and reviewed before publication. How we summarize.