Cyber Incident Victim: 1st Franklin Financial Corporation
Date:
Nov 2022
Location:
United States of America
Summary
1st Franklin Financial Corporation experienced a cyberattack resulting in unauthorized access to its IT network, compromising sensitive consumer data including names, Social Security numbers, bank account and routing numbers, and credit report information. The financial services provider secured its systems, initiated an investigation confirming the breach, and reviewed affected files to identify impacted individuals before issuing notification letters. The incident exposed confidential customer information provided during loan applications, raising concerns about the organization's data protection practices.
| CIA Posture | Motives | Tactics, Techniques & Procedures |
|---|---|---|
| Available to members | 1 motive | 2 techniques |
| Threat Actors | Type | Location |
|---|---|---|
| 0 actors | Available to members | Available to members |
Description
On November 17, 2022, 1st Franklin Financial Corporation (1FFC) experienced a cyberattack that compromised its computer network. The company responded by securing its systems and initiating an investigation to determine the nature and scope of the incident. The investigation confirmed that an unauthorized party accessed certain files containing confidential consumer information stored on 1FFC's IT network. While the company did not disclose technical details about the attack vector or intrusion methods, it determined that the breach exposed sensitive customer data. By January 10, 2023, 1FFC completed its review of affected files and began mailing data breach notification letters to impacted individuals. The compromised information included names, Social Security numbers, bank account numbers with routing numbers, and specific details from consumer credit reports. 1FFC formally reported the breach to the Montana Attorney General's office on February 14, 2023, as required by state regulations. The notification process targeted individuals who had applied for or received loans through the company's financial services.
The data breach affected customers who provided personal information during loan application processes for services such as auto repairs, home improvements, medical expenses, weddings, funerals, and debt consolidation. Exposed banking details and credit report information created significant identity theft and financial fraud risks for victims. As a Georgia-based financial institution operating through 340 branches with 1,442 employees, 1FFC manages substantial consumer data through its $213 million annual lending operations. The company's investigation did not reveal evidence of data misuse beyond the initial unauthorized access, nor did it specify the total number of affected individuals. Security measures implemented post-breach focused on containment rather than public disclosure of remediation steps. Impacted customers received notifications approximately eight weeks after breach confirmation, with the Montana filing occurring three months post-incident. The compromised data types represent core financial identifiers frequently targeted in identity-related crimes.