Reading Cooperative Bank (RCB), a financial institution based in Massachusetts with assets valued at $1.2 billion, has reported a serious security breach that compromised the personal information of over 24,000 customers. According to a document filed with the Maine Attorney General’s Office, the incident originated from a phishing attack targeting one of the bank’s employees.
- An Error That Compromised the Security and Personal Data of Thousands of Customers
- Additionally, the bank asked its customers to contact an Experian agent if they suspect fraudulent use of their information as a result of this security breach.
- The company added that if suspicious transactions or unrecognized activities are detected, it will be necessary to contact the company managing the account.
- How to Recognize and Avoid Falling Victim to Phishing
The attack began on August 8, 2024 and was discovered on January 31, 2025. It was triggered when an employee of the financial institution clicked on a malicious email sent by a known sender, linked to an organization that regularly collaborates with the bank in the financial sector, ultimately affecting a total of 24,041 Americans.
According to the document filed with the Office, the internal investigation revealed that customers’ personally identifiable information may have been exposed as a result of this incident.
An Error That Compromised the Security and Personal Data of Thousands of Customers
Among the potentially compromised data are names and other personal information that could be used to identify the affected individuals. Although the bank did not specify the exact scope of the exposed data, the nature of the information puts customers’ privacy and security at risk.
In response to this attack, Reading Cooperative Bank has implemented new cybersecurity measures to protect its systems and prevent future incidents. The institution stated it is working closely with internal and external cybersecurity experts to strengthen its protocols and safeguard customer information.
Additionally, the bank asked its customers to contact an Experian agent if they suspect fraudulent use of their information as a result of this security breach.
Similarly, if after contacting an official, it is determined that restoration is necessary, a special agent from this department can work to investigate and resolve each incident.
“It is always good practice to remain vigilant and carefully review your online accounts and financial statements for any unauthorized activity,” reads the document shared with Maine authorities.
The company added that if suspicious transactions or unrecognized activities are detected, it will be necessary to contact the company managing the account.
“You should also report potential identity theft incidents to local law enforcement or your state’s attorney general,” emphasized bank officials.
For more information, bank representatives provided a toll-free customer service line that clients can call from 9:00 AM to 9:00 PM Eastern Time, Monday through Friday, excluding U.S. holidays.
“At RCB, we take the privacy of our customers’ sensitive information very seriously. We deeply regret that this security incident occurred,” concluded Forest Wallace, the bank’s information security officer.
How to Recognize and Avoid Falling Victim to Phishing
Through phishing, scammers use emails and text messages to deceive victims into sharing personal and financial information.
The U.S. Federal Trade Commission (FTC) revealed that you can protect yourself in several ways:
- Using multi-factor authentication for your accounts: this adds an extra layer of security by requiring two or more credentials to log in.
- Backing up your data: this can be done on an external hard drive or in the cloud.
- Using security software to keep your computer safe.
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