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First Update (June 26, 2024, 12:00pm CT):
- Retail banking customers' debit cards and online/digital banking credentials appear unaffected.
- The bank will communicate directly with impacted customers and partners.
- Customers are advised to remain vigilant and report suspicious activity.
Second Update (June 28, 2024, 12:30pm CT):
- Evolve is working with forensic experts to determine the full scope of the incident.
- They maintain communication with fintech partners.
- No impact on customer funds has been detected.
Evolve is working diligently to address the situation and has engaged law enforcement authorities. Impacted customers will receive an email with instructions on enrolling in complimentary credit monitoring and identity theft detection services.
Customers are encouraged to monitor account activity and credit reports, set up free fraud alerts, and review their free credit report.
Our Opinion:
While the cybersecurity incident at Evolve Bank & Trust is deeply concerning, it is good to see Evolve Bank & Trust is taking this matter seriously and working diligently to address the situation. Engaging appropriate law enforcement authorities and top-tier forensic experts is a crucial step in investigating and containing the incident.
It's reassuring to know that, as of the latest update, the incident appears to be contained, and there is no ongoing threat. Additionally, the fact that customer funds have not been impacted is a positive sign.
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