On June 20, 2024, Class Advisors filed a notice of data breach with the Attorney General of California after discovering that an unauthorized party was able to access data belonging to certain consumers. In this notice, Class Advisors explains that the incident resulted in an unauthorized party being able to access consumers’ sensitive information, which includes their names, dates of birth, Social Security numbers, and financial account information. Upon completing its investigation, Class Advisors 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 Class Advisors, 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 Class Advisors data breach. For more information, please see our recent piece on the topic here.

What Caused the Class Advisors Data Breach?

The Class Advisors data breach was only recently announced, and more information is expected in the near future. However, Class Advisors’ filing with the Attorney General of California provides some important information on what led up to the breach. According to this source, Class Advisors was recently notified by one of its vendors about a data security incident involving the filing of fraudulent tax returns.

In response, Class Advisors launched an investigation to better understand the incident and determine what, if any, consumer data may have been compromised. Class Advisors also contacted the IRS and enlisted the help of third-party cybersecurity experts.

Ultimately, this investigation confirmed that an unauthorized individual gained access to certain Class Advisors files between February 12, 2024 and March 6, 2024, including those containing confidential consumer information.

After learning that sensitive consumer data was accessible to an unauthorized party, Class Advisors reviewed the compromised files to determine what information was leaked and which consumers were impacted. Class Advisors completed this process on May 29, 2024. While the breached information varies depending on the individual, it may include your name, date of birth, Social Security number, and financial account information.

On June 20, 2024, Class Advisors 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 Class Advisors

Founded in 20212, Class Advisors is a business consulting and tax preparation firm based out of San Diego, California. Class Advisors offers a wide range of accounting-related services, including tax preparation, finance management, business valuation, and business consulting. Class Advisors employs more than 25 people and generates approximately $5 million in annual revenue.