IBW Financial Corporation Data Breach Investigation

Turke & Strauss LLP, , a leading data breach law firm, is investigating IBW Financial Corporation, which does business as Industrial Bank, regarding its recent data breach. The Industrial Bank data breach involved sensitive personal identifiable information and protected health information belonging to over 92,000 individuals.


Industrial Bank is a community bank serving the Washington D.C. area. Founded in 1934, Industrial Bank is the oldest African American owned bank in the Washington region. As a family-owned establishment, Industrial Bank works to promote financial literacy in its community through partnerships as well as informational seminars. Industrial Bank continues to serve their community by offering a range of banking services from checking and saving accounts to consumer and commercial loans. Headquartered in Washington D.C. with locations in Maryland, New York, and New Jersey, Industrial Bank employs around 150 individuals and handles over $550 Million in assets.


On September 30, 2021, Industrial Bank discovered that it had experienced a data breach in which the sensitive personal identifiable information and protected health information in its systems may have been accessed. Through its investigation, Industrial Bank determined that an unauthorized actor may have accessed this sensitive information on September 30, 2021. On November 22, 2022, Industrial Bank began contacting individuals whose information may have been impacted. The type of information exposed includes:

  • Name
  • Social Security number
  • Drivers license number
  • Financial account Information
  • Passport number
  • Health insurance information
  • Medical information

If you received a breach notification letter from Industrial Bank:

We would like to speak with you about your rights and potential legal remedies in response to this data breach. Please fill out the form, below, or contact us at (608) 237-1775 or sam@turkestrauss.com.

If you were impacted by the Industrial Bank data breach, you may consider taking the following steps to protect your personal information.

  1. Carefully review the breach notice and retain a copy;
  2. Enroll in the free credit monitoring service provided by IBW Financial Corporation;
  3. Change passwords and security questions for online accounts;
  4. Regularly review account statements for signs of fraud or unauthorized activity;
  5. Monitor credit reports for signs of identity theft; and
  6. Contact a credit bureau(s) to request a temporary fraud alert.

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