Triad Business Bank Reports Data Breach
Take action: The root cause of the data breach is unauthorized email access. Activate MFA or even go password-less on all systems - especially on email to minimize risk unauthorized access.
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On May 3, 2023, Triad Business Bank notified the Office of the Maine Attorney General about a data breach incident that occurred, compromising the confidential information of at least 8,235 individuals. The breach involved unauthorized access to consumers' names and Social Security numbers. Triad Bank promptly initiated the process of sending data breach notification letters to all affected individuals.
The incident came to light on January 27, 2023, when suspicious activity related to an employee's email account was discovered. As a precaution, the bank secured all other users' email accounts and initiated an investigation with the assistance of cybersecurity experts.
The investigation confirmed unauthorized access to one employee's email account between January 24, 2023, and January 27, 2023. Further investigation revealed that certain emails and attachments in the compromised account contained confidential consumer information. Triad Business Bank then reviewed the compromised files to determine the extent of the breach and identify the affected individuals. The breached information may include names and Social Security numbers.
On May 3, 2023, Triad Business Bank sent out data breach letters to all individuals whose information was compromised in the recent incident.
Triad Business Bank, founded in 2020, is a financial institution based in Greensboro, North Carolina. Their services include personal and business accounts, loans, mortgages, credit cards, and more. The bank operates in three locations and has over 25 employees, generating approximately $12 million in annual revenue.
