Posted On May 11, 2023 Consumer Privacy & Data Breaches
May 11 – Triad Business Bank reported a data breach to the Office of the Maine Attorney General on May 3, 2023, after a cyberattack exposed the personal information of 8,235 customers. According to the company’s formal declaration, the event led to a third party acquiring access to the personal information of some of its customers, including their names and Social Security numbers. Triad Bank started mailing data breach notification letters to all persons affected by the incident once it was confirmed that customer data was exposed.
The data breach lawyers of Console & Associates, P.C. who specialize in data breaches are now investigating the hack at Triad Business Bank. If you have received a breach notification and are concerned about identity theft and want to learn more about your rights to financial compensation from Triad Business Bank, we are offering free consultations to answer your questions.
In addition to commercial and personal checking accounts, savings accounts, money market accounts, credit cards, and mortgages, Triad Business Bank also offers a variety of loans and other financial products. Triad Business Bank has branches in Greensboro, High Point, and Winston-Salem in North Carolina. More than twenty-five employees are employed by Triad Business Bank, which opened in 2020 and currently earns over $12 million in yearly income.
Triad Business Bank reported to the Attorney General of Maine on January 27, 2023 that it had discovered suspicious conduct using an employee’s email account. The bank immediately took action by locking down all user email accounts and beginning an investigation with the help of cybersecurity experts.
According to the findings of an investigation conducted by Triad Business Bank, an outside entity accessed the email account of one employee between January 24, 2023 and January 27, 2023. The bank then discovered that several customer emails and attachments in the compromised account included sensitive data.
Triad Business Bank immediately started reviewing the affected files after learning that sensitive customer data had been made accessible to an unauthorized person. Your name and Social Security number can be among the compromised data, but the specifics depend on who you are.
Data breach letters were sent out by Triad Business Bank on May 3, 2023, to everyone whose data was exposed.
If Triad Business Bank sends you a breach notice, it’s probable that some of your personal information was compromised in the attack. Your personal information may have been compromised and could be used for identity theft or other illicit activities. Hackers behind a data breach may be difficult to track down. Even if the hackers are exposed, they may not be the only ones to blame for the security breach. Under U.S. data breach regulations, victims may be able to sue the company that was breached for compensation even if the perpetrator of the crime is not identified.
While businesses like Triad Business Bank may be the targets of an attack, they also have the responsibility of keeping customer information secure. State and federal laws provide for negligence liability for businesses that fail to take reasonable precautions to secure their customers’ personal information.
U.S. data breach legislation imposes an obligation on businesses that hold personally identifiable information. In the case of a breach where sensitive data is compromised, they might be held financially responsible. Rules regarding accountability after infractions are often not that cut and dry. You should get legal advice if a breach happens.
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 Triad Business 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.