Posted On April 15, 2022 Consumer Privacy & Data Breaches
April 15, 2022 – Recently, TransNational Bankcard, LLC, also known as TransNational Payments, announced a data breach impacting the names, email addresses, and Social Security numbers of individual owners or officers of TransNational enterprise customers. On March 21, 2022, the company sent out data breach notification letters informing affected parties of the breach.
It is essential those who receive a data breach notification from TransNational Bankcard understand what is at risk. The data breach lawyers at Console & Associates, P.C. are actively investigating the TransNational Bankcard data breach. 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 TransNational Bankcard.
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 notice provided by the company, on February 2, 2022, TransNational Bankcard detected a security incident. In response, the company launched an investigation to identify the nature and scope of the incident. While this investigation is ongoing, TransNational confirmed that the personal data—including names, email addresses, Social Security numbers—of certain parties was affected. The company reports that the affected individuals are “individual owners or officers of TransNational enterprise customers.”
On March 22, 2022, TransNational Bankcard began sending out data breach notification letters to all individuals whose information was compromised as a result of the recent data security incident.
TransNational Bankcard, LLC, which also goes by the name TransNational Payments, is a payment processing company based in Rosemont, Illinois. The company processes in-store, online, and mobile credit card payments on behalf of its customers. TransNational Payments also facilitates loyalty programs and payroll processing. The company was founded in 1999 and employs more than 129 people. TransNational generated approximately $45 million in annual revenue.
When you allowed TransNational access to your personal data, you trusted the company to keep your sensitive information safe. However, news of the TransNational Payments 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 TransNational Payments breach is only in its beginning phases. For that reason, it is too early to tell if TransNational was legally responsible for the breach. However, our data breach attorneys are investigating the TransNational Payments 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 TransNational, contact a data breach attorney as soon as possible.
If you receive a data breach notification from TransNational in the coming weeks, it means your personal data 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 TransNational 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.