Posted On March 30, 2023 Consumer Privacy & Data Breaches
March 30, 2023 – Tri Counties Bank posted a “Network Outage Update” on the company website on March 24, 2023, after establishing that a recent ransomware assault may have exposed private customer data to thieves. Because the attack was so recent and the investigation hasn’t been concluded, the types of information compromised haven’t been released. Once Tri Counties Bank has gathered all necessary information, if any consumer information was compromised, the company will notify those individuals.
It is crucial that you comprehend what is at risk and what you can do about it if Tri Counties Bank notified you of a data breach. The Tri Counties Bank data breach is currently being investigated by Console & Associates, P.C.’s data breach lawyers. If you were a victim of the data breach and are interested in learning more about how to shield yourself from falling victim to fraud or identity theft and what your legal rights are in the wake of the Tri Counties Bank data breach, including discussing whether you can seek financial compensation from the bank.
Tri Counties Bank, while headquartered in Chico, California, is a financial organization with over 70 locations throughout California, including those in Orland, San Francisco, Auburn, Redding, Chowchilla, Chico, Grass Valley, Fresno, and Half Moon Bay. Tri Counties Bank, which was founded in 1975, presently employs more than 1,084 people and brings in about $329 million annually.
Per a notice posted on the company’s website, Tri Counties Bank recently discovered that the business had been the target of a ransomware assault. The bank responded by shutting down its network, reporting the breach, and starting an inquiry to find out more about what happened and whether any customer information was compromised.
Though information is limited about the attack due to the investigation being ongoing, Tri Counties Bank has revealed that information belonging to consumers has been accessed by an unauthorized party. The type of information has not yet been released.
Once Tri Counties Bank has concluded the investigation and confirmed whether confidential consumer information has been exposed, they will be sending data breach notification letters to all individuals affected.
A ransomware attack is a cyberattack in which hackers infect a company’s computer network with malicious software, called malware. This software encrypts the data and keeps the firm from accessing its own data. Only individuals with the necessary software to decode encrypted files can view them.
Ransomware is so named because hackers will leave a message demanding payment from the business in exchange for access to its data once more. The files will be decrypted once the fee has been paid.
Hackers will leave a message requesting money from the company in exchange for regaining access to its data, hence “ransomware.” Once the price is paid and the files have been decrypted, the attack will end.
Other hackers employ a much more ominous threat to ensure that the company pays for the files back. If the company already has backup copies of the material, there is really no reason for them to pay the price. Hackers might actually release the data onto the dark web if the company doesn’t pay the ransom. This strategy is known as “double extortion.”
The consumer privacy lawyers at Console & Associates, P.C. help customers affected by data and security breaches pursue legal solutions by offering free consultations. By explaining your rights in clear, concise terms, we help you make an informed decision about your next steps. If you are a victim of the Tri Counties Bank data breach, Console & Associates, P.C. will investigate at no charge to you and offer advice on how to proceed. If you decide to pursue a case, rest assured that we don’t get paid unless you do. If your claim is successful, legal fees are either paid out of the funds recovered or by the defendant. If your claim is not successful, you pay nothing.
Below is a portion of the notice posted on their website:
We are providing an update on a recent ransomware cybersecurity incident. Tri Counties Bank recently detected and managed a cybersecurity incident. After detecting unusual activity in our network environment, we shut down our networked systems and immediately notified the authorities. We then brought the bank’s systems back online in a careful and methodical process with attention to the security of customer data and accounts. At this time, all Tri Counties Bank customer services are operating normally.
Although we took immediate action upon discovering the cybersecurity incident, we are aware that an unauthorized party has recently posted certain information that they allege they stole from our system. We are working with third party forensic specialists to continue to assess what data may have been impacted, and we will notify affected parties as soon as possible and as required.
While this investigation is ongoing, it is important to note that Bank accounts are housed on a secure system which is separate from the network environment impacted during this incident. There is no evidence that your accounts were accessed or otherwise impacted. None of our customers’ account balances have been affected. Protecting our customers and the security of our systems remains a top priority.
We always encourage customers to monitor for and report any suspicious activity observed on their accounts. Please refer to the security page on our website for further information on how to protect your account.
Your business is very important to us. If you have any questions, please contact your local branch or relationship manager, or call us at 1-800-922-8742.