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Bank of America has published an advisory to its customers about a data breach that has exposed their personal information. The breach became apparent due to a cyberattack that targeted Infosys McCamish Systems (IMS), a service provider employed by the bank. This incident unfolded last year and has put customer data at risk.
The confirmed compromised personally identifiable information (PII) includes customers’ names, addresses, social security numbers, dates of birth, and financial details such as account and credit card numbers. This financial institution disclosed these details to the Texas Attorney General, showing the severity of the breach.
Bank of America suffered an attack that could affect millions.
Bank of America, which possesses a vast customer base of nearly 70 million individuals, operates across numerous retail financial centres and ATMs across the United States, its territories, and more than 35 other nations. Despite the massiveness of its operations, the bank has yet to provide comments on the top since it prefers to direct inquiries to Infosys McCamish.
While the exact number of impacted customers remains undisclosed, a notification letter submitted by IMS to the Attorney General of Maine confirmed that the hack has directly affected over 57,000. The breach, allegedly on November 3, 2023, disrupted IMS systems due to unauthorised access by a third party.
Though Bank of America’s systems remained uncompromised, IMS informed the bank on November 24, 2023 about potential compromises to data related to accepted compensation plans. However, the extent of personal information accessed during the incident remains a mystery.
This breach affected Bank of America and disrupted IMS operations, resulting in the unavailability of specific applications and systems.
On the other hand, the LockBit ransomware gang claimed responsibility for the attack on IMS, revealing that it encrypted over 2,000 systems during the breach.
This incident is the latest addition to the growing concerns surrounding cybercrime, with estimates suggesting that the LockBit gang has extorted substantial sums from various U.S. organisations in the past few years. This breach shows the need for more potent cybersecurity measures to safeguard sensitive customer data from such cyberattacks.
