News
Bank of America Admits Customer Personal Data Compromised Last Year
February 2024 by Sylvain Cortes, VP Strategy at Hackuity
Following a supply chain hack last year, Bank of America has admitted their customers’ personal data has been compromised after a service provider was breached last year.
Sylvain Cortes, VP Strategy, Hackuity comments:
“Commercial pressures are driving banks to digitise their services which makes them ever more reliant on service providers. But this also means that their providers become a significant point of security exposure. In cruder terms, their supply chain is their problem to manage.
It’s not just that banks are under attack. Risk cascades down through any service provider, supplier, or partner that holds or processes their sensitive data and who is also a prime target. Particularly in light of DORA and future regulations, this incident is another wake-up call of the small ‘degrees of separation’ in our complex supply chains: any weak links expose banks – and their customers’ data – to significant risk.”
