A data breach at Bank of America has exposed the sensitive information of 57,000 customers. This is a significant security incident that highlights the importance of protecting personal data.
The breach occurred when an unauthorized party gained access to Bank of America's systems, allowing them to steal customer data. This is a serious issue that requires immediate attention.
Bank of America is taking steps to notify affected customers and offer them free credit monitoring and identity theft protection services. This is a good first step in mitigating the damage caused by the breach.
Additional reading: Bank of America Customers Were Compromised by a Third-party Vendor
Data Breach Details
The data breach at Bank of America affects nearly 60,000 customers, with at least 57,028 directly impacted.
The breach occurred after a third-party vendor, Infosys McCamish Systems (IMS), was hacked in November 2023. IMS is an insurance process management services provider.
The exposed customer data includes names, addresses, Social Security numbers, dates of birth, and financial account details.
The LockBit ransomware gang claimed responsibility for the attack on IMS, saying they encrypted over 2,000 IMS systems.
The breach highlights the risks in the interconnected financial sector, especially regarding third-party vendor management.
Strengthening oversight and implementing stringent security protocols for third-party partnerships are crucial to mitigate such risks.
Here's a breakdown of the potentially compromised information:
- First and last name
- Address
- Business email address
- Date of birth
- Social Security number
- Other account information
Impact and Affected Customers
At least 57,000 Bank of America customers had their personal information compromised in the data breach. This number is confirmed by a filing with the Office of the Main Attorney General and a letter sent to customers by IMS.
The affected customers were notified by Bank of America about the data breach, which occurred after IMS, a third-party vendor, was hacked in November 2023. This hack exposed customer data, including names, addresses, Social Security numbers, dates of birth, and financial account details.
The data breach specifically impacted customers with deferred compensation plans, which is why at least 57,028 Bank of America customers were directly affected. This number is also confirmed by breach notification letters sent to affected consumers.
Broaden your view: Gt Bank Customer Care
Here's a breakdown of the types of personal information that may have been compromised:
- First and last name
- Address
- Business email address
- Date of birth
- Social Security number
- Other account information
Bank of America is offering affected customers a free, two-year membership to IdentityWorks, an identity protection product from Experian, to help them mitigate any potential risks.
Bank's Response and Support
Bank of America is offering a free two-year membership to Experian IdentityWorks to the more than 57,000 affected clients.
The identity theft protection program includes daily credit report monitoring from Experian, Equifax, and TransUnion, internet surveillance, and identity theft resolution, among other services.
To claim this offer, you can enroll online or call Experian IdentityWorks, providing the activation code and engagement number provided by Bank of America.
The bank is working to control the fallout from the data breach, and this offer is part of their efforts to support affected customers.
Sources
- https://www.secureworld.io/industry-news/bank-of-america-data-breach
- https://www.americanbanker.com/news/data-breach-affects-57-000-bank-of-america-accounts
- https://bankautomationnews.com/allposts/risk-security/what-bank-of-america-is-doing-for-customers-after-data-breach/
- https://www.qcnews.com/charlotte/data-breach-impacts-nearly-60000-bank-of-america-accounts/
- https://www.forbes.com/advisor/personal-finance/data-breach-affects-bank-of-america-customers/
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