Editor's Note: We have updated this story to include TD Bank's clarification regarding the data breach reported initially by BleepingComputer, which this story was based on.
A spokesperson from TD reached out to ITP, giving the correction regarding this story.
As we all know, TD is one of the largest banks in the United States by deposits. When the news about the security breach, many customers were concerned. However, some details from our source were not mentioned.
According to the TD Bank spokesperson, a fraud case impacted two retailer customers in Vermont, and the issue has been resolved.
The story we wrote on Oct. 3 was based on BleepingComputer's report, which is now taken down. TD representative shared the statement on behalf of TD Bank.
"At TD Bank, protecting the security of our customers' accounts is a top priority and we take the issue of fraud very seriously. The letter posted by Office of the Vermont Attorney General on Sept. 28, 2022 was a communication that TD sent recently to two retail customers in Vermont. As the letter stated, a TD employee improperly accessed some of their account information. Our investigation determined this was an isolated incident. The employee was terminated as a result of the investigation findings. The two customers were fully reimbursed and we offered free credit monitoring to them. At TD, we require colleagues to meet high standards of ethics, integrity, and professionalism. To protect our customers and the bank, TD has strong processes in place to identify, investigate and deter potential fraud."
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TD Bank has announced that there has been a leak of customer information that has been stolen by a former employee. The personal information that has been acquired by the said employee includes the user's full name, physical address, social security number, safe of birth, transactional information, and account number.
The Vermont Attorney General's office has received the data breach notification stating that one of TD Bank's former employees has been giving away the information to a third-party outside of bank personnel, as mentioned in BleepingComputer.
TD Bank has since issued a clarification regarding the reported data breach, saying that the notification issued by the Attorney General's office in Vermont pertains to a fraud case that has impacted only two customers. The issue has already been resolved by the bank.
TD Bank Issues Statement Clarifying Data Breach
TD Bank has released an official statement regarding the initially reported data breach to issue a clarification regarding what had happened. The bank says that the initial report regarding a data breach affecting their clients, which this iTech Post story was based on, has been inaccurate.
"The letter posted by Office of the Vermont Attorney General on Sept. 28, 2022 was a communication that TD sent recently to two retail customers in Vermont," TD Bank's statement reads.
"As the letter stated, a TD employee improperly accessed some of their account information. Our investigation determined this was an isolated incident," it adds.
TD Bank confirms in its statement that the employee in question has already been terminated. The two customers in Vermont have also been fully reimbursed. The bank likewise offered free credit monitoring to the affected clients.
The bank also assures its clients that the protection of customers' accounts is a top priority and that it has strong processes that identify, investigate, and avoid cases of fraud. It likewise emphasizes that the bank requires "colleagues to meet high standards of ethics, integrity, and professionalism."
Scam Red Flags to Look Out For
Scammers usually target their victims via emails, text messages, voice calls, and letters. Bank account holders need to be vigilant and learn how to identify which are real and which are scams.
If someone is asking for personal or account information and claims that they are a representative of the bank, refrain from answering, as banks will never text, email, or call their customers asking for this information.
Some will pose as the bank by contacting their victims and claiming that the matter is urgent. If that does happen, immediately contact your bank and verify if the concern is legitimate, as advised by the Bank of America.
The bank will never ask you to pay via other methods like gift cards, digital currency, or other payment apps like Zelle to resolve a problem. They will never ask you to transfer money to anyone, even yourself.
Never give out your PIN or account number to just anyone unless you are 100% sure that the person is from your bank. It is safer to approach the bank's physical establishments to resolve matters when the need arises.
Related Article : Here's What You Need to Know About Zelle Scams
