On March 6, 2025, Best Collateral, Inc. filed a notice of data breach with the Attorney General of California after discovering that an unauthorized party was able to access portions of its IT network. In this notice, Best Collateral explains that the incident resulted in an unauthorized party being able to access consumers’ sensitive information, which includes their names, Social Security numbers, driver’s license numbers, biometric information, military identification numbers, and health insurance policy information. Upon completing its investigation, Best Collateral began sending out data breach notification letters to all individuals whose information was affected by the recent data security incident.
If you received a data breach notification from Best Collateral, Inc., it is essential you understand what is at risk and what you can do about it. A data breach lawyer can help you learn more about how to protect yourself from becoming a victim of fraud or identity theft, as well as discuss your legal options following the Best Collateral data breach. For more information, please see our recent piece on the topic here.
What Caused the Best Collateral Data Breach?
The Best Collateral data breach was only recently announced, and more information is expected in the near future. However, Best Collateral’s filing with the Attorney General of California provides some important information on what led up to the breach. Best Collateral also posted a website notice discussing the incident and the company’s response.
According to this source, on January 17, 2025, Best Collateral detected unusual activity within its IT network. In response, Best Collateral launched an investigation with the help of third-party cybersecurity experts. Through this investigation, on February 10, 2025, Best Collateral confirmed that there was unauthorized access to its computer network and that the unauthorized party was able to access certain files containing confidential information belonging to employees and customers.
After learning that sensitive data was accessible to an unauthorized party, Best Collateral reviewed the compromised files to determine what information was leaked and which consumers were impacted. While the breached information varies depending on the individual, it may include your name, Social Security number, driver’s license number, biometric information, military identification number, and health insurance policy information.
On March 6, 2025, Best Collateral sent out data breach letters to anyone who was affected by the recent data security incident. These letters should provide victims with a list of what information belonging to them was compromised.
More Information About Best Collateral, Inc.
Best Collateral, Inc. is a specialty financial services company operating a network of pawn shops that provide short-term collateral loans and retail sales of pre-owned merchandise. Headquartered in Northern California, the company offers secured lending solutions to individuals, allowing them to access quick cash using personal valuables as collateral. With a focus on customer service and community engagement, Best Collateral, Inc. provides a wide selection of discounted jewelry, electronics, tools, and other high-value items for sale. The organization employs approximately 123 people and generates an estimated $27 million in annual revenue.
