Over 95k M&T Bank Customers Lose Data in Recent Breach
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- By Steven
- Aug 24, 2023
M&T Bank was established in 1856 and is one of the largest banks in the US. It is based in Buffalo, New York, and currently has over 1,000 branches in 12 separate states. The bank houses data for hundreds of thousands of individuals, and some of that information may be at risk because of a recent breach. Learn all about the 2023 M&T Bank data breach below.
How Did the Attack Occur?
M&T Bank recently noted that an unauthorized user was able to access its systems and gather information without permission. It's unclear how this user was able to get into the data systems of the bank, but once that occurred, the information was no longer safe. We don't know the specific data that was taken during the attack, but we know that approximately 95,261 Massachusetts residents were impacted by the breach. We also know that some personal data may have been taken in the breach, exposing all of those individuals to potential data losses. The Bank did remark that none of its own data was taken in this breach, so only individuals were affected.
What Information Was Viewed or Stolen?
While we cannot say for sure what information was stolen from each person involved in this data breach, we know that some Social Security numbers, full names, home addresses, phone numbers, and other potential details were taken from some of the individuals. Anyone who was involved in this breach should receive a notice from M&T explaining the breach and the potential risks to them. If you receive a breach notice, you should take steps to protect your information in the future.
How Did M&T Bank Admit to the Breach?
M&T Bank took two steps to let people know about the data breach. The first step was to send a notice to the Massachusetts Attorney General's office explaining the situation. The letter tells how many state residents were impacted by this breach potentially, as well as what sort of data was involved in it. The organization is also sending letters to the different people involved. Between these two notification methods, everyone will understand whether their data is involved in the breach or not.
What Will Become of the Stolen Information?
Since we don't know which attackers are behind this stolen data it's impossible to predict how it's going to be used. Some attackers gather information for future phishing attacks, or to try and unlock passwords to additional services. Others take information to resell it or to demand ransoms from the companies that lost the information originally. Any of these different attacks could occur, but the information stolen is enough to use for phishing attacks and for identity theft attacks. If you receive a letter telling you your data was involved, you should be aware that you're at risk for suffering from additional data losses as well as financial losses.
What Should Affected Parties Do in the Aftermath of the Breach?
If you learn your information was involved in this M&T breach, you should immediately check your credit for changes. Look closely at your credit report for new accounts you never opened. You also qualify for free credit monitoring services if you receive a letter from the bank. Utilize those services to track your credit and to stay up-to-date about what's happening with your information. If you receive an alert about an unexpected credit change, you can quickly contact the company involved and explain the situation to protect yourself from identity theft issues.