Recently, Texas Gulf Bank (“TGB”) confirmed that the company suffered a data breach after an unauthorized party gained access to two employee email accounts twice. According to the TGB, the breach resulted in the compromise of names, bank account numbers, and credit or debit card numbers. On May 31, 2022, TGB filed a formal notice of breach and sent data breach letters to all affected parties.
If you have received a data breach notification, it is essential that you understand what is at risk and what you can do about it. To learn more about how to protect yourself from fraud or identity theft and what your legal options are following the Texas Gulf Bank data breach, please see our recent article on the subject. 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 the leak of information about the bank’s customers.
TBG’s 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.
In a subsequent investigation, on April 20, 2022, Texas Gulf Bank confirmed that emails and attachments from 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 data breach letters to everyone whose information was compromised as a result of the recent security incident. Datas.
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 Gulf Coast of Texas with nine branches in Angleton, Clute, Freeport, Friendswood, Houston, Lake Jackson and West Columbia. TGP provides all traditional banking services as well as financial planning, mortgages, consumer credit and wealth management. Texas Gulf Bank employs approximately 113 people and generates annual revenue of approximately $21 million.
Should you be concerned if you receive a data breach letter from Texas Gulf Bank?
Data breaches are increasingly common, with dozens of data breaches being reported every week. However, as cybercriminals become more sophisticated in their attacks, they also pose increasingly serious risks of identity theft and other fraud.
Any data breach is problematic because these data security incidents put consumers’ personal information into the hands of cybercriminals. However, these breaches involving consumer financial information are of particular concern because this data is extremely easy for hackers to use quickly. And in the event that a hacker or cybercriminal uses your information to steal your identity, it can take months and thousands of dollars to fix the problem. In fact, according to the Identity Theft Resource Center, victims of identity theft spend 200 hours and over $1,300 recovering their identities.
Given the risks associated with a data breach, it is essential that those who receive a data breach letter from Texas Gulf Bank take the necessary steps to protect themselves. Additionally, breach victims may be able to bring a data breach class action lawsuit against a company if it appears that it was negligent prior to the attack. Those who have questions about what to do after a data breach or what their legal options are should contact a data breach attorney for assistance.