The tenth-largest financial institution in the United States, TD Bank has reported a data breach involving unauthorized access to sensitive customer information by a former employee. Between August and December 2022, the breach raised serious concerns over data security and customer privacy.
According to a filing with the Massachusetts state government, the compromised data includes customer names, contact details, dates of birth, account numbers, and transactional records. While TD Bank has confirmed that at least eight customers in Massachusetts were affected, the total number of impacted individuals across other states has not yet been disclosed.
Upon discovering the breach, TD Bank acted swiftly to terminate the former employee responsible for the unauthorized access. The bank is working closely with law enforcement authorities to investigate the incident and determine the full extent of the breach. The bank’s corporate security team is also involved in the probe, reinforcing its commitment to maintaining stringent security protocols and preventing future breaches.
TD Bank provides complimentary membership to an online fraud prevention and detection service to mitigate potential risks for affected customers. Additionally, the bank is facilitating the process for impacted individuals to close compromised accounts and open new ones to enhance security. As an added precaution, customers are encouraged to place a security freeze on their credit reports with the three major US consumer reporting agencies, depending on their state of residence.
