US Banks Investigate Data Theft Following Financial Tech Firm Breach
In response to a recent cyberattack on a New York financial technology firm, major U.S. banks are evaluating the extent of data theft involving their customers. The incident involved SitusAMC, a company providing technological support to a wide range of financial institutions.
Details of the Cyberattack
SitusAMC confirmed on November 12 that it experienced a data breach. The firm reported that hackers compromised sensitive corporate information linked to its banking clients, including “accounting records and legal agreements.”
- Data breach confirmed on: November 12
- Compromised data included corporate and legal information
- Scope of breach remains under investigation
Impacted Institutions
Several large financial organizations have been directly notified about the breach. These include:
- JPMorgan Chase
- Citigroup
- Morgan Stanley
Additionally, SitusAMC serves various pension funds and state governments, handling significant volumes of non-public banking data each year.
Nature of the Attack
The breach did not involve the use of encrypting malware, indicating that the primary aim of the attackers was data extraction rather than causing disruption. SitusAMC has stated that the situation is now contained, with its systems operational post-attack.
Investigative Efforts Underway
Officials from the FBI are involved in the investigation to determine the extent of the impact. FBI Director Kash Patel confirmed that there has been no operational disruption to banking services.
When approached by TechCrunch for comments, representatives from affected banks and SitusAMC’s CEO, Michael Franco, did not provide any statements. Citigroup, through spokesperson Patricia Tuma, abstained from commenting on specifics related to the breach.
Ongoing Monitoring and Response
The cybersecurity community is closely monitoring the situation as investigations continue. The aim is to identify those responsible and protect critical banking infrastructure from similar threats in the future.
