Ingo Money Agrees to $1.5M Settlement Over 2023 Data Breach Compromising Consumer Information
Deadline
Deadline: May 15, 2025
Total Settlement Amount
Total amount allocated for all claims
Individual Payout Range
Estimated amount per eligible claim
Proof of Purchase
Documented bank fees, phone and data charges, postage, gasoline for local travel, fees for credit reports, credit monitoring or other identity theft insurance products purchased in response to the data breach and other traceable expenses.
Settlement Summary
Ingo Money, a financial technology company offering services such as mobile check cashing and digital banking, found itself in legal hot water when a data breach in 2023 exposed sensitive consumer information, including names, Social Security numbers, and financial account details. As a result, the company fell afoul of a class action lawsuit alleging failure to implement data security measures, thereby violating various state laws. Despite not admitting any wrongdoing, Ingo Money has agreed to a $1.5 million settlement to resolve these allegations. The settlement benefits include payouts for documented losses, a pro rata cash award, free credit monitoring, and identity theft insurance for those who received a notification from Ingo Money about possible data compromise. Loss payments are capped at $5,000 and require supportive documentation such as bank statements and receipts. Along with the payout, Ingo Money also committed to improve its business practices to better safeguard consumer data, which will cost the company an additional $350,000.
Entities Involved
Eligibility Requirements
- Individuals who received a notification from Ingo Money that their private information was potentially compromised as a result of the alleged cyberattack that occurred on or about Nov. 3, 2023.
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