On July 20, 2023, Franklin Mint Federal Credit Union (“FMFCU”) filed a notice of data breach with the Attorney General of Maine after discovering that MOVEit, a file transfer application used by FMFCU, contained a critical vulnerability allowing hackers to access confidential information belonging to FMFCU customers. In this notice, FMFCU explains that the incident resulted in an unauthorized party being able to access consumers’ sensitive information, which includes their names, Social Security numbers, and financial account numbers. Upon completing its investigation, FMFCU began sending out data breach notification letters to all individuals whose information was affected by the recent data security incident.

If you received a data breach notification from Franklin Mint Federal Credit Union, it is essential you understand what is at risk and what you can do about it. A data breach lawyer can help you learn more about how to protect yourself from becoming a victim of fraud or identity theft as well as discuss your legal options following the Franklin Mint Credit Union data breach. For more information, please see our recent piece on the topic here.

What Caused the Data Breach Affecting Franklin Mint Credit Union Customers?

The Franklin Mint Credit Union data breach was only recently announced, and more information is expected in the near future. However, FMFCU’s filing with the Attorney General of Maine provides some important information on what led up to the breach.

According to this source, FMFCU uses a file transfer program called MOVEit, which was created by Progress Software. On June 1, 2023, FMFCU became aware of an alert issued by the Cybersecurity and Infrastructure Security Agency addressing a vulnerability within MOVEit.

After learning about the MOVEit vulnerability, FMFCU installed all available patches to eliminate the vulnerability and then launched an investigation to determine what, if any, customer data was leaked as a result.

On June 19, 2023, the FMFCU investigation confirmed that the MOVEit vulnerability allowed an unauthorized party to access documents stored on FMFCU’s MOVEit server. This included files that stored confidential customer information.

After learning that sensitive consumer data was accessible to an unauthorized party, Franklin Mint Credit Union reviewed the compromised files to determine what information was leaked and which consumers were impacted. FMFCU completed this process on June 28, 2023. While the breached information varies depending on the individual, it may include your name, Social Security number, and financial account numbers.

On July 20, 2023, Franklin Mint Credit Union sent out data breach letters to anyone who was affected by the recent data security incident.

More Information About Franklin Mint Federal Credit Union

Established in 1970, Franklin Mint Federal Credit Union is a financial institution based out of Chadds Ford, Pennsylvania. FMFCU offers personal banking, business banking and wealth management services to customers through approximately 17 branches located throughout Southeastern Pennsylvania. Franklin Mint Credit Union employs more than 350 people and generates approximately $75 million in annual revenue.