Recently, Lake Shore Savings Bank confirmed that the company had suffered a data security incident leading to the compromise of the names, addresses and bank account numbers of certain customers. If you have received a data breach notification, it is essential that you understand what is at risk. the data breach lawyers at Console & Associates, PC is actively investigating the Lake Shore Savings Bank data breach on behalf of those whose information was exposed. As part of this investigation, we are offering free consultations to anyone affected by the breach who wants to learn more about the risks of identity theft, what they can do to protect themselves, and what their legal options may be. get compensation from Lake Shore Savings Bank.
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 trying to find their identity. Many victims also suffer from 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.
Learn more about the causes and risks of data breaches
Often, data breaches result from a hacker gaining unauthorized access to a company’s computer systems in an attempt to obtain sensitive consumer information. Although no one can know why a hacker targeted Lake Shore Savings, it is common for hackers and other criminals to identify companies suspected of having weak data security systems or vulnerabilities in their networks.
Once a cybercriminal gains access to a computer network, they can then access and delete all data stored on compromised servers. While in most cases a business victim of a data breach can identify the accessed files, they may have no way of knowing which files the hacker actually accessed or deleted. Datas.
Although the fact that your information has been compromised in a data breach does not necessarily mean that it will be used for criminal purposes, being the victim of a data breach puts your sensitive data in the hands of someone unauthorized. Therefore, you are at increased risk of identity theft and other fraud, and criminal use of your information is a possibility that should not be ignored.
Given this reality, individuals who receive a data breach notification from Lake Shore Savings Bank should take the situation seriously and remain vigilant by checking for any signs of unauthorized activity. Companies like Lake Shore Savings are responsible for protecting consumer data in their possession. If Lake Shore Savings Bank is found to have failed to adequately protect your sensitive information, you may be eligible for financial compensation through a data breach lawsuit.
What are consumer remedies following the Lake Shore Savings Bank data breach?
When customers decided to do business with Lake Shore Savings, they assumed the company would take their privacy concerns seriously. And it goes without saying that consumers would think twice about giving a company access to their information if they knew it wouldn’t be secure. Thus, data breaches such as this raise questions about the adequacy of a company’s data security system.
When a business, government entity, nonprofit, school, or other organization accepts and stores consumer data, it also accepts a legal obligation to ensure that this information is kept private. US data breach laws allow consumers to pursue civil data breach claims against organizations that fail to protect their information.
Of course, given the recentness of the Lake Shore Savings Bank data breach, the investigation into the incident is still in its early stages. And, at this time, there is no evidence yet to suggest that Lake Shore Savings is legally liable for the breach. However, that may change as more information about the breach and its causes comes to light.
If you have questions about your ability to bring a data breach class action lawsuit against zLake Shore Savings Bank, contact a data breach attorney as soon as possible.
What should you do if you receive a data breach notification from Lake Shore Savings Bank?
If Lake Shore Savings Bank sends you a data breach notification letter, you are among those whose information was compromised in the recent breach. Although this is not the time to panic, the situation deserves your attention. Below are some important steps you can take to protect yourself against identity theft and other fraudulent activity:
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Identify compromised information: The first thing to do after becoming aware of a data breach is to carefully review the data breach letter sent. The letter will tell you what information about you was accessible to the unauthorized party. Be sure to make a copy of the letter and keep it for your records. If you’re having trouble understanding the letter or what steps you can take to protect yourself, a data breach attorney can help.
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Limit future access to your accounts: Once you’ve determined what information about you was affected by the breach, the safest game is to assume that the hacker who orchestrated the attack stole your data. Although this is not the case, prevention is better than cure. To prevent future access to your accounts, you must change all passwords and security questions for any online account. This includes online banking accounts, credit card accounts, online shopping accounts, and any other accounts that contain your personal information. You should also consider changing your social media account passwords and setting up multi-factor authentication where available.
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Protect your credit and financial accounts: After a data breach, companies often provide affected parties with free credit monitoring services. Signing up for free credit monitoring offers important protections and does not affect any of your rights to bring a data breach lawsuit against the company if it is found to be legally responsible for the violation. You should contact a credit bureau to request a copy of your credit file, even if you notice no signs of fraud or unauthorized activity. Adding a fraud alert to your account will provide you with additional protection.
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Consider implementing a credit freeze: A credit freeze prevents anyone from accessing your credit file. Credit freezes are free and remain in effect until you remove them. Once a credit freeze is in place, you can temporarily lift it if you need to apply for any type of credit. While freezing credit on your accounts may seem like overkill, given the risks involved, it’s warranted. According to the Identity Theft Resource Center (“ITRC”), freezing credit on your account is “the most effective way to prevent a new credit/financial account from being opened.” However, only 3% of data breach victims freeze their accounts.
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Monitor your credit report and financial accounts regularly: Protecting yourself following a data breach requires continuous effort on your part. You should regularly check your credit report and all financial account statements for any signs of unauthorized activity or fraud. You should also call your banks and credit card companies to report that your information has been compromised in a data breach.
Below is the portion of the data breach notification sent by Lake Shore Savings Bank:
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The purpose of this letter is to notify you of a data security incident experienced by Lake Shore Savings Bank which may have involved your personal information, and, as a precaution, we are providing information on steps you can take to help protect your information. We take the privacy and security of your personal information very seriously and sincerely regret any concerns this incident may cause you.
What happened? On November 24, 2021, Lake Shore Savings Bank experienced a data security incident that prevented employees from accessing internal systems and data. Upon discovering this incident, Lake Shore Savings Bank immediately launched an investigation and hired a digital forensics firm to help determine what happened and what information may have been accessed. The Lake Shore Savings Bank also notified the FBI and the Office of the Comptroller of the Currency of the incident. During its investigation, Lake Shore Savings Bank identified unauthorized access to certain data in its systems. Although there is no evidence that your personal information has been misused, out of an abundance of caution, we are notifying you of the incident and providing information on steps you can take to protect your information.
The incident did not involve access to any Lake Shore Savings Bank account, and there is no evidence of unauthorized or suspicious activity in your Lake Shore Savings Bank account(s).
What information was involved? The information may include your name, address and bank account number.
What do we do? As soon as we discovered this incident, we took the measures described above. We have also implemented additional safeguards to help keep our network secure to reduce the risk of a similar event occurring in the future.
Plus, we offer identity theft protection services through IDX, the data breach and recovery expert. IDX Identity Protection Services include:> credit monitoring and CyberScan, a $1,000,000 insurance reimbursement policy and fully managed identity theft recovery services. With this protection, IDX will help you resolve issues if your identity is compromised.
What you can do: We encourage you to sign up for free identity protection services by calling 1-800-939-4170 or by visiting http://app.idx.us/account-creation/protect and using the registration code provided above. Please note that the registration deadline is June 7, 2022.
Please call 1-800-939-4170 or go to http://app.idx.us/account-creation/protect for help or any other questions you may have.
For more information: More information on how to protect your information appears on the following page. If you have any questions regarding this incident, please contact 1-800-939-4170, Monday through Friday (excluding holidays), 9 a.m. to 9 p.m. Eastern Time.
Please accept our sincere apologies and know that we deeply regret any concern or inconvenience this may cause you. Thank you for your continued trust and support.
