Through the years I've come across this scenario more than once. You have a bunch of user-related data that you want to send from one application to another. The second application is expected to "trust" this "token" and use the data within it. A timestamp is included in the token to prevent a theft/re-use attack. For whatever reason (let's not worry about it here) a custom solution has been chosen rather than an industry standard like SAML.
To me it seems like digitally signing the data is what you want here. If the data needs to be secret, then you can also encrypt it.
But what I see a lot is that developers will use symmetric encryption, e.g. AES. They are assuming that in addition to making the data "secret", the encryption also provides 1) message integrity and 2) trust (authentication of source).
Am I right to suspect that there is an inherent weakness here? At face value it does seem to work, if the symmetric key is managed properly. Lacking that key, I certainly wouldn't know how to modify an encrypted token, or launch some kind of cryptographic attack after intercepting several tokens. But would a more sophisticated attacker be able to exploit something here?