WHITMAN, MA, ISSUED March 18, 2008…Mutual Bank, a community bank with eight branches throughout Southeastern Massachusetts and on Cape Cod, today responded to the card data breach being reported by Hannaford’s as one of 60 to 70 banks that have been affected, according to reports from Mass Bankers Association.
Through their own internal security systems Mutual Bank was able to identify the problem even before Hannaford’s reported it. Approximately 450 Mutual Bank Visa Check Cards (debit cards) were included in this information compromise, and Mutual Bank has realized to date losses of approximately $20,000 as a result of fraud with stolen card information.
Due to the nature of the fraudulent transactions uncovered in this incident to date, Mutual Bank has decided in this case to err on the side of caution and accordingly has placed a protective restriction to ATM-use only on those cards known to be at risk. Mutual Bank is in the process of re-issuing new cards and should have them in the hands of customers by the end of next week.
Affected customers do not need to call the bank; if their card needs to be replaced, they will be notified. For those cards that experienced fraudulent transactions, even though the bank did not cause this breach, Mutual Bank will hold each customer harmless, refunding any lost money.
“Customers can help protect themselves by forming the habit of monitoring their accounts frequently via our online banking service. The service is provided free of charge to all our customers,” said Glen S. White, Chief Executive Officer of Mutual Bank. “At Mutual Bank, the protection of customer data has always been of paramount importance. Banks were not the source of this data breach; nevertheless, we regret any inconvenience that this causes to our customers.”
About Mutual Bank
Mutual Bank is an independent, mutually-owned bank serving the community’s personal and small business banking needs, with full-service offices in Whitman, Brockton, Carver, Falmouth, Halifax, Hanson and Middleboro. The Bank has operated continuously as an independent, local institution for more than a century. The main office is located at 570 Washington Street in Whitman, Massachusetts. For more information, visit www.MyMutualBank.com, or call Christine Grundy, Vice President/Director of Marketing, at 781-447-4488.
