Forward Bank Reports Data Breach, Prompting Vigilance Among Affected Consumers

Forward Bank, based in Thorp, Wisconsin, disclosed a recent data breach following unauthorized access to portions of its computer network, urging affected individuals to remain vigilant in light of the incident.

Discovered on September 10, 2023, the breach prompted immediate action from Forward Bank, alerting regulatory bodies like the FDIC and the FBI. A comprehensive investigation, aided by cybersecurity experts, confirmed unauthorized access by a third party to the bank’s network on September 6, 2023, raising concerns about potential exposure of sensitive customer data.

After thorough scrutiny of compromised files, concluded on October 27, 2023, Forward Bank promptly issued data breach notification letters on November 17, 2023, to individuals affected by the security incident. While public disclosures don’t specify the types of compromised data, individual letters sent to victims contain detailed information on the leaked data.

Established in 1919, Forward Bank offers a range of financial services to individuals and businesses, encompassing checking and savings accounts, loans, mortgages, credit cards, investment, and insurance products. With a network comprising around 15 branches across various Wisconsin locations, the bank employs over 96 individuals and generates an estimated $23 million in annual revenue.

Affected consumers are advised to remain vigilant against potential fraud or identity theft, closely reviewing communications from Forward Bank regarding the breached information. Forward Bank is committed to providing detailed information to victims, aiming to facilitate proactive measures to safeguard their personal data.

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