Recently, Texas Gulf Bank (“TGB”) confirmed that the company experienced a data breach after an unauthorized party gained access to two employee email accounts on two separate occasions. According to the TGB, the breach resulted in the names, bank account numbers and credit or debit card numbers being compromised. On May 31, 2022, TGB filed an official notice of the breach and sent out data breach letters to all affected parties.
If you received a data breach notification, it is essential you understand what is at risk and what you can do about it. To learn more about how to protect yourself from becoming a victim of fraud or identity theft and what your legal options are in the wake of the Texas Gulf Bank data breach, please see our recent piece on the topic here.
What We Know About the Texas Gulf Bank Data Breach
Based on a recent filing by the company, on January 29, 2021 and February 22, 2021, Texas Gulf Bank became aware of two separate incidents in which an unauthorized party accessed employee email accounts. In response, TGB launched an investigation to learn more about the nature and scope of the incident, as well as whether any bank customer information was leaked as a result.
The TBG investigation revealed that an unauthorized party gained access to various files through two Texas Gulf Bank email accounts on two separate occasions. The first incident took place between January 13, 2021 and January 29, 2021. The second incident took place between February 17, 2021, and February 22, 2021.
Through a subsequent investigation, on April 20, 2022, Texas Gulf Bank confirmed that the emails and attachments in the compromised employee email accounts contained the names and account numbers of 12,358 customers. Texas Gulf Bank then went through the emails to identify all affected parties and, on May 31, 2022, TGP sent out data breach letters to all individuals whose information was compromised as a result of the recent data security incident.
More Information About Texas Gulf Bank
Texas Gulf Bank is an independently owned and operated bank located in Angleton, Texas. Founded in 1913 in Freeport, TX, TGP has since grown to serve customers throughout the Texas Gulf Coast with nine branches in Angleton, Clute, Freeport, Friendswood, Houston, Lake Jackson, and West Columbia. TGP provides all the traditional banking services as well as financial planning, mortgage lending, consumer finance, and wealth management. Texas Gulf Bank employs about 113 people and brings in annual revenue of approximately $21 million.
Should You Be Concerned if You Receive a Texas Gulf Bank Data Breach Letter?
Data breaches are becoming increasingly common, with dozens of data breaches being reported every week. However, as cybercriminals become more sophisticated in their attacks, they also present increasingly serious risks of identity theft and other frauds.
Any data breach is problematic, as these data security incidents put consumers’ personal information in the hands of cybercriminals. However, those breaches involving consumers’ financial information are especially concerning as this data is extremely easy for hackers to use quickly. And in the event a hacker or cybercriminal uses your information to steal your identity, it can take months—and thousands of dollars—to resolve. In fact, according to the Identity Theft Resource Center, victims of identity theft spend 200 hours and over $1,300 recovering their identity.
Given the risks that come along with a data breach, it is essential for those who receive a Texas Gulf Bank data breach letter to take the necessary steps to protect themselves. Additionally, victims of the breach may be able to pursue a data breach class action lawsuit against a company if evidence emerges that it was negligent leading up to the attack. Those with questions about what to do after a data breach or what their legal options are should reach out to a data breach lawyer for assistance.
