Truist Data Breach Exposes Clients' Financial Info

On October 27, 2023, Truist Financial Corporation experienced a significant data breach when an unauthorized third party gained access to a small number of Truist employee accounts. This breach allowed the unauthorized party to obtain personal information of some Truist clients. After a thorough investigation, it was determined on May 29, 2024, that the affected files contained sensitive personal information.

The breach exposed the following types of information:

• Name
• Date of birth
• Financial account numbers
• Loan transaction amounts
• Loan balance

The severity of the breach is underscored by the fact that it involved unauthorized access to employee accounts, which were then used to extract client information. The breach was discovered through collaboration with law enforcement and cybersecurity experts, highlighting the sophisticated nature of the attack.

For more detailed information, you can view the disclosure on the Massachusetts Attorney General's website.

Truist's Response

In response to the data breach, Truist Financial Corporation has taken several steps to address the situation and protect their clients. The company's cybersecurity team promptly assessed and contained the unauthorized access. They are closely monitoring the situation to minimize any potential impact on their clients.

Truist is offering affected clients complimentary credit monitoring and identity protection services for 24 months. They are also working closely with law enforcement to support the ongoing criminal investigation. Additionally, Truist has recommended that affected clients request new account numbers and order free credit reports to monitor their financial information.

Steps to Take if You Are Affected by the Data Breach

If you have been affected by the Truist data breach, it is important to take immediate action to protect your personal information. Here are some steps you should consider:

1. Register for Identity Protection Services: Truist is providing complimentary credit monitoring and identity protection services through Experian’s CSIdentity. You can enroll by visiting Experian CSIdentity Corporation or by calling (888) 883-1852. Use the activation code provided in your notice.
2. Request a New Account Number: Contact your local Truist relationship manager to have new account numbers issued.
3. Order a Credit Report: You are entitled to one free credit report annually from each of the three national consumer reporting agencies. Visit Annual Credit Report or call (877) 322-8228 to order your report.
4. Monitor Your Accounts: Keep a close eye on your account statements and credit reports over the next 12-24 months. Report any suspicious activity to your local Truist relationship manager immediately.
5. Review the Reference Guide: The enclosed Reference Guide in your notice provides further guidance on protecting your personal information.
6. Report Incidents: If you detect any identity theft or fraud, report it promptly to law enforcement, the FTC, and your state Attorney General. Visit the FTC's Identity Theft website for more information on how to protect yourself and recover from identity theft.

About Truist Financial Corporation

BB&T and SunTrust merged in 2019 to form Truist Financial Corporation.

With 275 years of combined BB&T and SunTrust history, Truist serves approximately 12 million households. The company offers a range of services including retail, small business, and commercial banking; asset management; capital markets; commercial real estate; corporate and institutional banking; insurance; mortgage; payments; specialized lending; and wealth management. Headquartered in Charlotte, North Carolina, Truist is the sixth-largest commercial bank in the U.S.