In a recent press release by 1st Source Banks, based in South Bend, Indiana, the public has learned of a breach that took place within the debit systems of the bank. It appears that an unknown number of debit card numbers and pin codes were illegally hacked from a secure network at the bank’s corporate headquarters. There have been no reports at this point of any illegal activity to have resulted from this breach. The bank isn’t taking any chances though said James Seitz, a senior vice president for the firm.

In an effort to prevent any wrong doings from taking place, the bank has canceled all of the older ATM accounts of affected individuals and has sent out new account numbers and pin codes for people to use to establish their new account. While there have been no details about the number of people affected, the bank has said that these preemptive measures are costing them a considerable amount of money, although they appreciate how understanding all of their customers have been, especially while recognizing how serious of a problem identity theft has become in recent years.

While the bank continues to keep customers informed of changes taking place in the case, it was also decided that each affected individual will receive a one year subscription to an ID theft service. These companies, such as Lifelock, provide a safeguard against illegal credit activities that are reported through the major credit bureaus. Experian, Equifax, and Tran Union are contacted an alerts are placed on people’s accounts to keep an eye out for any new credit card or loan applications. These applications are then confirmed with the customer to make sure that they are legitimate.

The breach took place on May 12 and was identified that same day. Unfortunately, the people affected were not sent letters until the 28, over two weeks after the event took place. This is the result of the extensive investigation that the bank launched to uncover the extent of the damage and what the breach exposed. On May 12 when the breach was discovered, the server was set down and no other access was allowed to the system. This is what analysts believe has prevented any of the information from being illegally used. In an effort to prevent further incidences from happening, 1st Source hired an external consulting firm to review the safety features of the network. Seitz has noted that this group has contributed positive suggestions that have helped the bank update it encryption standards.

In an effort to answer all the questions of its customers, the bank has extended its customer service hours and has received favorable comments about the efforts taken by the bank. Additionally, the bank is monitoring ATM transactions on a minute by minute basis in order to detect any fraudulent activities that might occur.