Doxim Settles $5.5 Million Data Breach Allegations

Doxim Inc., a financial services software provider, has agreed to pay $5.5 million to settle claims of negligence in protecting customer data exposed in a December 2023 data breach. The breach compromised personal information of customers from its credit-union clients. Affected class members can claim up to $5,000 for documented losses or receive a cash payment of approximately $100. The proposed settlement was filed in federal court and is pending approval from a judge. The breach highlights ongoing vulnerabilities in data protection practices within the financial services sector.

Key Points: • Doxim Inc. will pay $5.5 million to settle data breach claims. • The breach exposed personal information of credit union customers. • Affected individuals can claim up to $5,000 for losses or a smaller cash payment.