On February 14, 2023, 1st Franklin Financial Corporation (“1FFC”) filed notice of a data breach with the Attorney General of Montana after confirming that a recent data security incident compromised consumer data stored on the company’s computer network. Based on the company’s official filing, the incident resulted in an unauthorized party gaining access to consumers’ names, Social Security numbers, bank account numbers and routing numbers, as well as certain other information contained in consumers’ credit reports. After confirming that consumer data was leaked, 1FFC began sending out data breach notification letters to all individuals who were impacted by the recent data security incident.

If you recently applied for or received a loan through 1st Franklin Financial Corporation, you provided the company with all your personal information to get the process started. In doing so, you trusted 1st Franklin to keep your information secure. However, in the wake of the recent 1FFC data breach, many consumers have called the company’s commitment to data privacy into question. As we’ve discussed in prior posts, large companies are well aware of the risks posed by hackers and other cybercriminals and should take the necessary steps to prevent a data breach of this magnitude. In fact, companies that negligently handle your information may be liable to you through a data breach lawsuit.

What We Know So Far About the 1st Franklin Breach

The available information regarding the 1st Franklin breach comes from the company’s filing with the Attorney General of Montana. According to this source, on November 17, 2022, 1FFC was the victim of a cyberattack. While the company has not yet provided many details about the attack or how it was discovered, in response, 1FFC secured its systems and began an investigation.

The 1FFC investigation confirmed that certain files contained on the company’s IT network were subject to unauthorized access and that some of these files contained confidential consumer information.

Upon discovering that sensitive consumer data was made available to an unauthorized party, 1st Franklin began to review the affected files to determine what information was compromised and which consumers were impacted. While the breached information varies depending on the individual, it may include your name, Social Security number, bank account numbers and routing numbers. The 1FFC data breach also leaked certain information contained in consumers’ credit reports.

On January 10, 2023, 1st Franklin sent out data breach letters to all individuals whose information was compromised as a result of the recent data security incident.

More Information About 1st Franklin Financial Corporation

Founded in 1941, 1st Franklin Financial Corporation is a financial services company based in Toccoa, Georgia. The company provides a wide range of financial services, mostly focusing on consumer loans, to clients through more than 340 branches. Some of the most common 1FFC loans include those for auto repairs, home improvements, medical expenses, weddings, funerals, and debt consolidation. 1st Franklin employs more than 1,442 people and generates approximately $213 million in annual revenue.