Financial Services Company Aven Facing Class Action Over July 2023 Data Breach

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A proposed class action lawsuit claims financial services company Aven Financial, Inc. failed to protect members’ personal information from a data breach reportedly discovered in July 2023.

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The 44-page lawsuit says that on July 17, a security researcher informed Aven that he was able to access “an internal, in-development storage system containing personal information” via a “temporary vulnerability” in the company’s network.

The notice letter sent to individuals affected by the unauthorized access says that though Aven “remediated and eliminated the vulnerability within 45 minutes of learning of it,” the personal information that may have been involved includes Aven members’ names, dates of birth, Social Security numbers, driver’s license numbers, financial account details and more.

The suit argues that the system breach was a result of Aven’s failure to implement proper cybersecurity measures to safeguard the private data, which the company allegedly stored unencrypted and “in a condition vulnerable to cyberattacks.”

Additionally, the case takes issue with the defendant’s purportedly inadequate notification of impacted individuals. Per the complaint, the notice letter fails to explain how the third party gained access to the computer network and how Aven was able to remedy the system’s vulnerability.

By collecting and storing members’ personal data, Aven is legally obligated to protect the information from unauthorized disclosure, the filing states.

The lawsuit looks to represent anyone Aven Financial, Inc. has identified as being among those impacted by the data breach, including those who were sent a notice of the incident.

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