Posted On March 21, 2022 Consumer Privacy & Data Breaches
March 21, 2022 – Recently, TBK Bank, SSB announced that an unauthorized party accessed sensitive consumer information relating to certain bank customers after they gained access to an employee’s email account. It is essential that those who receive a data breach notification from TBK Bank understand what is at risk. The data breach lawyers at Console & Associates, P.C. are actively investigating the TBK Bank data breach on behalf of people whose information was exposed. As a part of our investigation, we are providing free consultations to anyone affected by the breach who is interested in learning more about the risks of identity theft, what they can do to protect themselves, and what their legal options may be to obtain compensation from TBK Bank.
In 2021, there were 1,862 data breaches affecting more than 189,000,000 individuals. Victims of identity theft spend, on average, 200 hours and more than $1,300 recovering their identity. Many of these victims also suffer credit damage, emotional distress, and may even end up with a criminal record. Taking immediate action is the best way to prevent the worst consequences of a data breach.
According to an official filing by the company, on around December 6, 2021, TBK Bank became aware of unauthorized activity on an employee’s email account. TBK Bank secured the email account and then conducted an investigation into the nature and extent of the incident. The company’s investigation revealed that between December 1 and December 6, 2021, the unauthorized party was able to access the employee’s email account. The investigation could not rule out the possibility that the unauthorized party viewed emails or attachments containing sensitive consumer information.
Upon learning of the extent of the security breach, TBK Bank then reviewed the affected files to determine what information was compromised. On January 28, 2022, the company completed its review and, while the compromised information varies based on the consumer, it may include your name, Social Security number, driver’s license, state identification number, and passport number.
On March 17, 2022, TBK Bank began sending out data breach notification letters to all individuals whose information was compromised as a result of the recent data security incident.
TBK Bank is a State Savings Bank based in Dallas, Texas. TBK Bank is a subsidiary of Triumph Bancorp, Inc., which is a publicly traded company on the Nasdaq under the ticker symbol “TBK.” TBK Bank has 63 branches across Colorado, Illinois, Iowa, Kansas, New Mexico, and Texas. The bank offers traditional banking products, including individual and business checking and savings accounts, mortgage loans, personal loans, business loans and more. TBK Bank has about 250 employees and generates approximately $161 million in annual revenue.
When you allowed TBK Bank access to your personal data, you trusted the company to keep your sensitive information safe. However, news of the TBK Bank data breach raises some very serious questions about the company’s data security measures and whether the company could have done more to prevent this type of cyber-attack.
Regardless of the industry, all businesses have a legal obligation to protect consumer information in their possession. Although creating and maintaining a data security system is costly, this is a necessary expense given the frequency with which cyberattacks occur.
Consumers whose personal, identifying, financial or healthcare-related data was compromised in a data breach can pursue legal action against a company that misused or mishandled their information. However, the investigation into the TBK Bank breach is only in its beginning phases. For that reason, it is too early to tell if TBK Bank was legally responsible for the breach. However, our data breach attorneys are investigating the TBK Bank security breach to determine the potential legal remedies of those affected.
If you have questions about your ability to pursue a data breach class action lawsuit against TBK Bank, contact a data breach attorney as soon as possible.
If you receive a data breach notification from TBK Bank in the coming weeks, it means your personal data was among that which was compromised in the recent cyberattack. It also means a cybercriminal may have had access to—and may have stolen—your personal data. Given the risks involved, it is important you remain vigilant by taking the following steps:
At Console & Associates, P.C., our consumer privacy lawyers monitor all security and data breaches to help affected consumers pursue their legal remedies. We offer free consultations to victims of data breaches and can explain your rights in clear, understandable terms so you can make an informed decision about how to proceed with your case. If you’ve been affected by the TBK Bank data breach or any other data security incident, Console & Associates, P.C., will investigate your case at no charge and offer you thorough advice about how to most effectively proceed with your case. If you decide to bring a case, we only get paid if you do. If your claim is successful, any legal fees are either paid by the defendant or come out of the funds recovered from the defendant. If your claim doesn’t result in a recovery, you will pay nothing.