State Street Files Notice of Data Breach Affecting Consumers' SSNs and Financial Info

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On February 5, 2024, State Street filed a notice of data breach with the Attorney General of Massachusetts after discovering that an unauthorized party was able to access confidential information in the company’s possession. In this notice, State Street explains that the incident resulted in an unauthorized party being able to access consumers’ sensitive information, which includes their names, Social Security numbers, financial account information and driver’s license numbers. Upon completing its investigation, State Street 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 State Street, 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 State Street data breach. For more information, please see our recent piece on the topic here.

What Caused the State Street Data Breach?

The State Street data breach was only recently announced, and more information is expected in the near future. At this early point, State Street’s filing with the Attorney General of Massachusetts is the only source of information, which provides very little information on what led up to the breach. According to this source, State Street reported a data security incident with the Attorney General of Massachusetts on February 5, 2024.

While State Street is the reporting entity, we cannot confirm that the leaked information was accessed through State Street’s computer systems. This is because the incident could have involved unauthorized access to one of State Street’s third-party vendors.

Regardless, after learning that sensitive consumer data was accessible to an unauthorized party, State Street 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, financial account information and driver’s license number.

On February 5, 2024, State Street 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 State Street

State Street is a financial services company located in Boston, Massachusetts. State Street is a bank and financial asset management company, managing approximately ten percent of the world’s assets. State Street operates 21 locations in the United States, as well as dozens more elsewhere in the world. State Street is publicly traded on the New York Stock Exchange under the symbol “STT.” State Street employs more than 42,000 people and generates approximately $12 billion in annual revenue.

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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