Recently, Central Bank confirmed that an unauthorized party gained access to certain files containing sensitive consumer information.

If you received a data breach notification, it is essential you understand what is at risk. More about our investigation into this breach, and what you can do if your data was stolen, is available here.

Last year, 1,862 data breaches affected more than 189 million people. On average, victims of identity theft spend 200 hours and over $1,300 recovering their identity. Many victims also suffer emotional distress, credit damage, and may even end up with a criminal record. Taking immediate action is the best way to prevent the worst consequences of a data breach.

What We Know So Far About the Central Bank Data Breach

Central Bank is a full-service bank located in Tampa, Florida. The bank was founded in 2007 and caters to the varying needs of individuals and small businesses. Central Bank operates three locations in Tampa, Winter Park and St. Augustine. The bank provides a wide range of traditional banking products such as checking and savings accounts, certificates of deposit, home mortgage and refinance options, and business checking and savings accounts. Additionally, Central Bank offers SBA/USDA loans.

According to an official filing by the company, Central Bank recently learned that an unauthorized party gained access to certain files on its computer network. Upon learning about the incident, Central Bank began an investigation to learn more about its causes and whether any sensitive consumer information was compromised as a result. Ultimately, on February 15, 2022, the company learned that an unauthorized party was able to access certain consumer data on December 27, 2021.

Upon learning of the extent of the security breach, Central Bank then reviewed the affected files to determine what information was compromised. While the compromised information varies by consumer, it may include individuals’ names, Social Security numbers, and financial account numbers. The affected parties include certain customers, shareholders, employees as well as other individuals whose information was included on applications for loans or business accounts.

On March 8, 2022, Central Bank began sending out data breach notification letters to all individuals whose information was compromised as a result of the recent data security incident. The Central Bank data breach is believed to have affected as many as 4,747 individuals.

More About the Causes and Risks of Data Breaches

Often, data breaches are the result of a hacker gaining unauthorized access to a company’s computer systems with the intention of obtaining sensitive consumer information. While no one can know the reason why a hacker targeted Central Bank, it is common for hackers and other criminals to identify those companies believed to have weak data security systems or vulnerabilities in their networks.

Once a cybercriminal gains access to a computer network, they can then access and remove any data stored on the compromised servers. While in most cases a company experiencing a data breach can identify which files were accessible, there may be no way for the company to tell which files the hacker actually accessed or whether they removed any data.

While the fact that your information was compromised in a data breach does not necessarily mean it will be used for criminal purposes, being the victim of a data breach puts your sensitive data in the hands of an unauthorized person. As a result, you are at an increased risk of identity theft and other frauds, and criminal use of your information is a possibility that should not be ignored.

Given this reality, individuals who receive a Central Bank data breach notification should take the situation seriously and remain vigilant in checking for any signs of unauthorized activity. Businesses like Central Bank are responsible for protecting the consumer data in their possession. If evidence emerges that Central Bank failed to adequately protect your sensitive information, you may be eligible for financial compensation through a data breach lawsuit.

What Are Consumers’ Remedies in the Wake of the Central Bank Data Breach?

When individuals allowed Central Bank access to their personal information, they assumed that the company would take their privacy concerns seriously. And it goes without saying that consumers would think twice before giving a company access to their information if they knew it wasn’t going to be secure. Thus, data breaches such as this one raise questions about the adequacy of a company’s data security system.

When a business, government entity, non-profit organization, school, or any other organization accepts and stores consumer data, it also accepts a legal obligation to ensure this information remains private. The United States data breach laws allow consumers to pursue civil data breach claims against organizations that fail to protect their information.

Of course, given the recency of the Central Bank data breach, the investigation into the incident is still in its early stages. And, as of right now, there is not yet any evidence suggesting Central Bank is legally responsible for the breach. However, that could change as additional information about the breach and its causes is revealed.

If you have questions about your ability to bring a data breach class action lawsuit against Central Bank, reach out to a data breach attorney as soon as possible.

What Should You Do if You Receive a Central Bank Data Breach Notification?

If Central Bank sends you a data breach notification letter, you are among those whose information was compromised in the recent breach. While this isn’t a time to panic, the situation warrants your attention. Below are a few important steps you can take to protect yourself from identity theft and other fraudulent activity:

1. Identify What Information Was Compromised: The first thing to do after learning of a data breach is to carefully review the data breach letter sent. The letter will tell you what information of yours was accessible to the unauthorized party. Be sure to make a copy of the letter and keep it for your records. If you have trouble understanding the letter or what steps you can take to protect yourself, a data breach lawyer can help.

2. Limit Future Access to Your Accounts: Once you determine what information of yours was affected by the breach, the safest play is to assume that the hacker orchestrating the attack stole your data. While this may not be the case, it’s better to be safe than sorry. To prevent future access to your accounts, you should change all passwords and security questions for any online account. This includes online banking accounts, credit card accounts, online shopping accounts, and any other account containing your personal information. You should also consider changing your social media account passwords and setting up multi-factor authentication where it is available.

3. Protect Your Credit and Your Financial Accounts: After a data breach, companies often provide affected parties with free credit monitoring services. Signing up for the free credit monitoring offers some significant protections and doesn’t impact any of your rights to pursue a data breach lawsuit against the company if it turns out they were legally responsible for the breach. You should contact a credit bureau to request a copy of your credit report—even if you do not notice any signs of fraud or unauthorized activity. Adding a fraud alert to your account will provide you with additional protection.

4. Consider Implementing a Credit Freeze: A credit freeze prevents anyone from accessing your credit report. Credit freezes are free and stay in effect until you remove them. Once a credit freeze is in place, you can temporarily lift the freeze if you need to apply for any type of credit. While placing a credit freeze on your accounts may seem like overkill, given the risks involved, it’s justified. According to the Identity Theft Resource Center (“ITRC”), placing a credit freeze on your account is the “single most effective way to prevent a new credit/financial account from being opened.” However, just 3% of data breach victims place a freeze on their accounts.

5. Regularly Monitor Your Credit Report and Financial Accounts: Protecting yourself in the wake of a data breach requires an ongoing effort on your part. You should regularly check your credit report and all financial account statements, looking for any signs of unauthorized activity or fraud. You should also call your banks and credit card companies to report the fact that your information was compromised in a data breach.

Below is a copy of the initial data breach letter issued by Central Bank:

Dear [Consumer],

Central Bank understands the importance of protecting the information we maintain. I am writing to inform you of an incident that involved some of your information. We had your information because you are either a customer, a shareholder, an employee of Central Bank, or your information was included on supporting documentation to establish a loan or other business account. This notice explains the incident, measures we have taken, and steps you may consider taking.

Central Bank identified a security incident that involved unauthorized access to certain systems within our environment. We took steps to secure our environment and contain the incident. We also contacted law enforcement and began an investigation with the assistance of an outside cybersecurity firm. The investigation determined that an unauthorized person obtained access to files on some of our servers on December 27, 2021. The investigation did not reveal that the unauthorized person was able to access our financial transaction system and no account changes resulted from this incident. The accessed files, however, may have contained information about you, including your <>.

We wanted to notify you of this incident and assure you that we take it seriously. We remind you it is always advisable to review your financial account statements for any unauthorized activity. We are also offering you a complimentary one- year membership in Kroll’s credit and identity monitoring services at no cost to you. The identity monitoring services include Credit Monitoring, a Current Credit Report, Web Watcher, Public Persona, Quick Cash Scan, $1 Million Identity Fraud Loss Reimbursement, Fraud Consultation, and Identity Theft Restoration.

Visit https://enroll.krollmonitoring.com to activate and take advantage of your identity monitoring services.

You have until <<b2b_text_6(EnrollmentDeadline)>> to activate your identity monitoring services. Membership Number: <>

For more information on your complimentary one-year membership, as well as additional steps you can take in response to the incident, please see the pages that follow this letter.

We regret that this incident occurred and apologize for any inconvenience. Additional steps are being taken to further enhance our existing security measures. If you have questions about this notice, please call 1-???-???-???? from 9:00 am to 6:30 pm Eastern time, Monday through Friday, excluding major U.S. holidays.