Cybersecurity Financial Data Breach News

"Bank of America Data Breach Exposes 57,000 Accounts in Vendor Hack"

A data breach at Infosys McCamish, a financial software provider, compromised the personal information of 57,028 Bank of America deferred compensation customers, including their Social Security numbers, through a ransomware attack by the group LockBit. The breach occurred on Nov. 3, but affected customers were not notified until Feb. 2, raising concerns about delayed notification. While Infosys McCamish claims responsibility for the breach, experts argue that banks are ultimately responsible for managing third-party cybersecurity risks, highlighting gaps in the industry's efforts to address such threats.