On May 3, 2023, Triad Business Bank filed a notice of data breach with the Office of the Maine Attorney General following a cybersecurity incident that compromised the confidential information of at least 8,235 individuals. Based on the company’s official filing, the incident resulted in an unauthorized party gaining access to consumers’ names and Social Security numbers. After confirming that consumer data was leaked, Triad Bank began sending out data breach notification letters to all individuals who were impacted by the recent data security incident.

If you received a data breach notification from Triad Business Bank, it is essential you understand what is at risk and what you can do about it. As we’ve discussed in similar posts before, once a hacker obtains your Social Security number, there are many ways they can use it to commit frauds against you. And, while banks and other financial institutions have a legal duty to protect the highly sensitive information in their possession, too often, these businesses fail to implement the data security system needed to prevent a successful data breach. However, under U.S. data breach laws, companies that negligently maintain consumer data may be held financially liable through a data breach lawsuit.

What We Know So Far About the Triad Business Bank Breach

News of the Triad Business Bank data breach is still fresh; however, what we know at this point comes from the company’s filing with the Maine Attorney General. According to this source, on January 27, 2023, Triad Business Bank learned of suspicious activity related to an employee’s email account. In response, the bank secured all other users’ email accounts and then launched an investigation into the incident with the assistance of cybersecurity specialists.

The Triad Business Bank investigation confirmed that an unauthorized party had gained access to one employee’s email account between January 24, 2023 and January 27, 2023. Through subsequent investigation, the bank also learned that some of the emails and attachments in the affected account contained confidential consumer information.

Upon discovering that sensitive consumer data was made available to an unauthorized party, Triad Business Bank began to review the affected files to determine what information was compromised and which consumers were impacted. While the breached information varies depending on the individual, it may include your name and Social Security number.

On May 3, 2023, Triad Business Bank sent out data breach letters to all individuals whose information was compromised as a result of the recent data security incident.

More Information About Triad Business Bank

Founded in 2020, Triad Business Bank is a financial institution based in Greensboro, North Carolina. The bank provides the standard suite of accounts and loans, including personal and business checking, savings, and money market accounts, home mortgages, personal loans, credit cards, business loans and more. Triad Business Bank currently operates three locations in Greensboro, High Point and Winston-Salem. Triad Business Bank employs more than 25 people and generates approximately $12 million in annual revenue.