TD Bank has disclosed a data breach involving a former employee who accessed and shared customer information without authorization. The breach, which occurred between August and December 2022, was revealed in a filing with the Massachusetts state government. The bank has since terminated the employee and launched an internal investigation in collaboration with law enforcement.
What personal information was compromised
According to TD Bank, the breach exposed customer names, contact details, birth dates, account numbers, and transactional data. While the total number of affected customers remains undisclosed, at least eight individuals in Massachusetts have been confirmed as impacted.
How TD Bank is responding to the data breach
To support affected customers, TD Bank is offering a complimentary two-year membership to Fraud-Defender, a fraud monitoring and identity protection service provided by Merchants Information Solutions. This service includes continuous credit file monitoring, internet surveillance for exposed personal information, and dedicated identity theft recovery assistance.
The bank is also simplifying the process for customers who wish to close and reopen their accounts as an added security measure. TD Bank will cover all associated expenses for this process.
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Important steps for customers to protect their accounts
Customers should take the following immediate actions to mitigate potential risks:
- Monitor account statements closely for any unauthorized activity.
- Enable multi-factor authentication on all financial accounts.
- Change online banking passwords and security questions regularly.
- Set up transaction alerts to detect suspicious activity.
- Report any unauthorized transactions to TD Bank and law enforcement.
How to protect your identity after a data breach
Customers are encouraged to take additional steps to secure their personal information:
- Place a free fraud alert on credit files through Equifax, Experian, and TransUnion.
- Consider a security freeze to prevent new accounts from being opened in their name.
- Obtain and review free credit reports for signs of fraudulent activity.
- Report suspected identity theft 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.
