Key TakeawaysThe Reading Cooperative Bank (RCB) was recently hit by a phishing attack that exposed the personal data of more than 24,041 customers.The attack happened somewhere between August 2024 and January 2025. The exact date remains unknown as of now.According to investigations, the attack originated from a phishing email that was sent to an employee.A billion-dollar bank, the Reading Cooperative Bank (RCB), has been hit by a cyberattack, which has put over 24,041 of its customers at risk.A report was filed with the Office of the Maine Attorney General by RCB, which believes that the attack took place sometime between August 2024 and January 2025.What Exactly Happened?The investigation is still ongoing, but so far it seems like an employee of the RCB received a phishing email. And as it goes with phishing attacks, the sender of the email appeared to be from a known organization with whom the bank regularly does business; hence, the employee was not suspicious.Clicking on that phishing email then gave the attacker access to the companys internal network. Typical phishing!This has resulted in a lot of sensitive information, such as names and other personally identifiable information, of affected customers being compromised.The bank has been mostly quiet about the incident as investigations run their due course. But they did implement additional security measures.We are working closely with our internal and external experts to further enhance the security of our systems RCBAs for the customers, they need to wait for further updates from the bank. In the meantime, they can either freeze their account or call a fraud alert on their credit file.The Rising Instances of Cyberattacks in the Banking IndustryCyberattacks have been on the rise since 2020, and the banking industry has been one of its biggest victims, given the nature of their business. In fact, as per a 2024-2025 survey, more than one-fifth of the cyber attacks that happen are targeted towards banks and financial institutions.Attacks on banks are much more disastrous compared to others because the money of common citizens is also at stake, some of whom might not be able to bear the brunt of such an attack.The solution is simple, though. People need to be educated about the different ways scammers might try to trick them.For instance, in this case, it was a phishing email, which is honestly one of the oldest types of cyberattacks. Banks and other companies should invest in better security infrastructure and constant monitoring and reduce their reliance on third parties. Plus, even if they do invest in outside security, they should vet them first. Lastly, the government also needs to step up its game in apprehending such criminals.Add Techreport to Your Google News Feed Get the latest updates, trends, and insights delivered straight to your fingertips. Subscribe now! Subscribe now Alpa is a senior editor with a wealth of experience in alternative finance, fintech, cryptocurrency, app security software, and the medical industry. She's currently an in-house managing editor with the Techreport team.Alpa is passionate about breaking down complex topics and sharing informative content that provides value. View all articles by Alpa Somaiya Our editorial processThe Tech Reporteditorial policyis centered on providing helpful, accurate content that offers real value to our readers. We only work with experienced writers who have specific knowledge in the topics they cover, including latest developments in technology, online privacy, cryptocurrencies, software, and more. Our editorial policy ensures that each topic is researched and curated by our in-house editors. We maintain rigorous journalistic standards, and every article is 100% written byreal authors.