Reading Co-op Bank's $1B Data Breach: 24,000 Customers Exposed in Phishing Attack

Reading Cooperative Bank, a Massachusetts-based lender with over $1 billion in assets, has disclosed a significant data breach that has potentially exposed the sensitive information of 24,041 customers. The incident, which occurred between August 8, 2024, and January 31, 2025, was the result of a phishing-related cyberattack.

The bank revealed in a filing with the Office of the Maine Attorney General that an employee clicked on a phishing email originating from a known sender at another organization, which led to the compromise of certain individuals' personally identifiable information. The data at risk includes names and other personally-identifying information.

In response to the breach, Reading Cooperative Bank has implemented additional cybersecurity safeguards and is working with internal and external experts to further enhance the security of its systems. The bank has also advised customers who are particularly concerned about the breach to consider placing a security freeze and a fraud alert on their credit files.

The data breach highlights the ongoing threat of phishing attacks to financial institutions and their customers. As cybercriminals become more sophisticated in their tactics, banks and other organizations must remain vigilant in protecting sensitive customer data. This incident serves as a reminder for customers to be cautious of phishing emails and to take steps to protect their personal information.