IBW Financial Corporation Data Breach Investigation

IBW Financial Corporation Data Breach Investigation

Lowey Dannenberg is investigating claims for violations of the common law and state consumer protection statutes by IBW Financial Corporation (“IBW”), as a result of a data breach involving highly sensitive Social Security numbers and driver’s license numbers.

If you received a notice letter, wish to participate, learn more, or discuss the issues surrounding the investigation please fill out the contact form below or please contact one of our attorneys at (215) 399-4782, or via email at investigations@lowey.com.

What Happened and What Information Was Involved:

IBW Financial Corporation is the holding company for Industrial Bank, National Association. The Bank provides a broad range of commercial and consumer lending services as well as deposit services. The Bank operates offices in the District of Columbia and in  Maryland.

IBW recently announced that on September 30, 2021, it became aware that an employee’s computer was subject to unauthorized access. IBW’s investigation determined that the unauthorized actor opened certain files stored on the affected computer. On October 19, 2022, IBW’s review was complete, and they determined that the files contained information related to certain individuals. The information that could have been subject to unauthorized access varies per individual but includes:

  • Names,
  • Social Security numbers,
  • Driver’s license numbers or state-issued identification card
    numbers, and
  • Financial account information.