TD Bank has disclosed a data breach involving a former employee who accessed and shared customer information without authorization. This breach occurred between August and December 2022 and was revealed in a filing with the Massachusetts state government. The bank has since terminated the employee and launched an internal investigation in coordination with law enforcement.
Compromised customer information
The breach exposed a range of personal information, including customer names, contact details, birth dates, account numbers, and transactional data. While the exact number of affected customers has not been disclosed, at least eight individuals in Massachusetts have been confirmed as impacted.
Bank’s response and customer support
To assist affected customers, TD Bank is offering a complimentary two-year membership to Fraud-Defender, a fraud monitoring and identity protection service from Merchants Information Solutions. This service includes continuous credit file monitoring, internet surveillance for exposed personal information, and dedicated identity theft recovery assistance.
Additionally, TD Bank is simplifying the process for customers wishing to close and reopen their accounts, covering all associated expenses as a security measure.
Customers are advised to take immediate actions to protect their accounts, which include monitoring account statements for unauthorized activity, enabling multi-factor authentication on financial accounts, changing online banking passwords and security questions regularly, setting up transaction alerts, and reporting unauthorized transactions to TD Bank and law enforcement.
To further protect their identities, customers can place a free fraud alert on their credit files through Equifax, Experian, and TransUnion. They may also consider a security freeze to prevent new accounts from being opened in their name and should obtain and review free credit reports for signs of fraudulent activity. Suspected identity theft can be reported to the Federal Trade Commission (FTC) at 1-877-FTC-HELP or consumer.ftc.gov.
TD Bank customers can activate their complimentary Fraud-Defender membership by visiting tdbank.merchantsinfo.com and entering their enrollment code. For further assistance, they can contact Merchants Information Solutions at 1-800-366-6573.
As of September 30, 2024, TD Bank reported nearly $400 billion in total assets, according to Federal Reserve data.
Featured image credit: TD Bank
