A US Bank Says Sensitive Customer Data Has Been Compromised in Global Cybersecurity Breach
A New York-based bank, M&T Bank, has announced that a global cybersecurity incident has exposed sensitive customer data. The breach occurred through the file transfer tool MOVEit, which is used by the bank to securely send and receive confidential information. The attacker targeted one of the bank’s third-party vendors to gain access to customer data. However, no PINs, passwords, social security numbers, or debit/credit card numbers were accessed.
Key Points:
– M&T Bank’s own internal systems were not compromised and at no risk.
– A customer affected by the breach has filed a class action lawsuit against the bank for failing to secure and safeguard data.
– The breach potentially impacted at least 95,000 customers, with more likely to be affected based on the bank’s clientele.
– M&T Bank operates in 12 states across the Eastern United States and has over $207 billion in assets.
Hot Take: The data breach at M&T Bank highlights the ongoing challenges faced by financial institutions in protecting customer information. This incident serves as a reminder for banks to strengthen their cybersecurity measures and ensure the security of third-party vendors. The lawsuit filed against the bank further emphasizes the importance of maintaining trust and accountability in handling sensitive data.
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