A flaw in the systems of Infosys McCamish Systems has exposed the personal data of over 57,000 Bank of America customers, opening the door to potential identity theft.
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Banks: prime targets for hackers ?
Crypto companies are not the only targets of data breaches lately. The recent leak at Bank of America, one of the world’s largest banks, demonstrates this. Indeed, following a security breach at its supplier Infosys McCamish Systems (IMS), the bank saw personal data of thousands of its customers exposed.
According to an official document, the hackers put the names, addresses, dates of birth and social security numbers of 57,028 customers. All the information needed to easily steal identities and funds.
IMS admit that they are unable to determine the precise extent of the information stolen. This is a worrying lack of clarity for customers.
It is unlikely that we will be able to determine with any certainty what personal information has been accessed.
Supplier’s declaration IMS
Protection measures taken by the bank
In an attempt to repair the damage, Bank of America offers victims two years of free credit monitoring by Experian IdentityWorksSM. A welcome measure, but insufficient in view of the risks of identity theft for thousands of customers.
For its part, IMS simply recommends changing passwords and regularly monitoring accounts.
This latest incident seriously damages the reputation of Bank of America in cybersecurity. It is also a reminder of the fragility of the traditional banking sector in the face of hackers, despite reinforced protection systems. An observation already made in 2019 during the massive leak of customer data at Capital One.
As a journalist at Coinpri, I’ve been captivated by the world of bitcoin and blockchain since 2020. The decentralized aspect of Bitcoin particularly piqued my interest. Since then, I’ve been working constantly to spread my knowledge, hoping one day to see a world where everyone fully enjoys their financial freedom.
