On July 14, 2023, PlainsCapital Bank filed a “Notice of Data Event” with the Attorney General of Montana after discovering that one of the bank’s vendors experienced a data breach related to the vendor’s use of the file-transfer program MOVEit. In a notice posted on its website, PlainsCapital Bank explains that the incident resulted in an unauthorized party being able to access customers’ sensitive information, which includes their Social Security numbers and bank account numbers. Upon completing its investigation, PlainsCapital Bank began sending out data breach notification letters to all individuals whose information was affected by the recent data security incident.
If you received a data breach notification from PlainsCapital Bank, it is essential you understand what is at risk and what you can do about it. Certainly, the facts leading up to this breach are confusing, as the IT systems of PlainsCapital Bank were not affected. However, because PlainsCapital Bank provided your information to one of its vendors, which experienced a data breach, it puts you at an increased risk of identity theft and other frauds. A data breach lawyer can help you learn more about how to protect yourself from becoming a victim of fraud or identity theft as well as discuss your legal options following the PlainsCapital Bank data breach. For more information, please see our recent piece on the topic here.
What Caused the PlainsCapital Bank Breach?
The PlainsCapital Bank data breach was only recently announced, and more information is expected in the near future. However, PlainsCapital Bank’s filing with the Attorney General of Montana provides some important information on what led up to the breach. According to this source, on June 27, 2023, one of the bank’s third-party vendors confirmed it had been affected by the global cyberattack conducted against MOVEit.
MOVEit is a popular file-transfer software created by Progress Software. While PlainsCapital Bank does not use MOVEit directly, the bank provides customer information to its vendor, who does use MOVE it. Back in May 2023, Progress Software announced a critical vulnerability within MOVEit, allowing hackers to access information stored on MOVEit servers.
Once PlainsCapital Bank’s vendor learned of the incident, it informed PlainsCapital Bank that certain customer data may have been impacted.
After learning that sensitive customer data was accessible to an unauthorized party, PlainsCapital Bank reviewed the compromised files to determine what information was leaked and which consumers were impacted. While the breached information varies depending on the individual, it may include your Social Security number and bank account numbers.
On July 14, 2023, PlainsCapital Bank sent out data breach letters to anyone who was affected by the recent data security incident.
More Information About PlainsCapital Bank
Founded in 1988, PlainsCapital Bank is a financial institution based in Dallas, Texas. The bank operates about a dozen branches in the Dallas metropolitan area, including in Dallas, DeSoto, Arlington and Frisco, providing a range of personal banking, commercial banking, private banking, and wealth management services. PlainsCapital Bank is a subsidiary of Hilltop Holdings. PlainsCapital Bank employs more than 3,628 people and generates approximately $251 million in annual revenue.
