Posted On March 11, 2025 Consumer Privacy & Data Breaches
March 11 – The Best Collateral data breach lawyers at Console & Associates, P.C are investigating the data breach that was reported after the company was targeted in a recent cyber security attack. The Best Collateral data breach resulted in the exposure of names, Social Security numbers, driver’s license numbers, biometric information, military identification numbers, and health insurance policy information of certain individuals being compromised.
According to the California Attorney General’s website, Best Collateral reported a data breach after they were targeted in a recent cyber security attack. The unauthorized intrusion allowed external parties to access files containing sensitive personal information of both customers and employees.
The security incident was first detected on January 17, 2025, when Best Collateral identified unusual activity within their IT infrastructure. Upon discovering these suspicious patterns, the company took steps to investigate the situation by engaging third-party cybersecurity experts to conduct a thorough examination of their systems.
The investigation culminated on February 10, 2025, when the company confirmed that unauthorized access to their computer network had indeed occurred. The forensic analysis revealed that malicious actors had successfully penetrated Best Collateral’s systems and accessed files containing confidential information.
Following confirmation of the breach, Best Collateral conducted a comprehensive review of all potentially affected files to determine exactly what information was exposed and which specific individuals had their data compromised. The analysis showed that while the specific combination of data elements varied by individual, the exposed information included sensitive personal identifiers such as Social Security numbers and driver’s license information, alongside other protected data categories including biometric information, military identification numbers, and health insurance policy details.
On March 6, 2025, Best Collateral sent out data breach letters to those individuals whose information was affected by the breach. These notifications provided recipients with details about the specific categories of their personal information that may have been exposed during the incident.
Best Collateral operates as a specialty financial services provider headquartered in Northern California, with a business model centered around collateral-based lending through its network of pawn shops. The company focuses on providing short-term secured loans to individuals using personal valuables as collateral.
The organization maintains multiple retail locations throughout Northern California where they conduct their dual business operations of secured lending and retail sales. Their pawn service allows customers to obtain immediate funds by temporarily surrendering possession of valuable items, which can later be reclaimed upon repayment of the loan with applicable fees. For items that are not reclaimed, Best Collateral sells them through their retail operations.
Their retail business offers a variety of pre-owned merchandise including jewelry, electronics, tools, musical instruments, and other valuable items at discounted prices. This inventory primarily consists of unclaimed collateral from their lending operations, creating a self-sustaining business cycle.
With approximately 123 employees and an estimated annual revenue of $27 million, Best Collateral represents a mid-sized player in the specialty finance sector.
Our data breach lawyers are eager to speak to victims of the Best Collateral data breach to determine what damages they sustained and what compensation may be available to them. If you recently received a NOTICE OF DATA BREACH from Best Collateral and would like a free consultation, contact the Console & Associates, P.C. law firm at (866) 778-5500 to discuss your legal options, or submit a confidential contact form.
