US Bank Faces Major Data Breach – is The Client Information Safe?
A bank headquartered in New York has recently reported a global cybersecurity incident that has exposed sensitive customer information.
In a communication addressed to its customers, M&T Bank disclosed that this security breach is linked to the exploitation of the file transfer tool MOVEit, a platform designed to secure confidential data.
The breach occurred when an unauthorized party targeted one of the bank’s third-party service providers, gaining access to certain information held by these external entities. This exposed customers’ names, addresses, and M&T checking, savings, and/or money market account numbers.
The bank informed that while there was a breach no critical information, such as PINs, passwords, social security numbers, birth dates, or debit/credit card numbers, was compromised during this incident. M&T Bank has reassured its customers that its internal systems remain unaffected and secure from this data breach.
In response to this unfortunate event, a customer impacted by the breach initiated a class action lawsuit against M&T Bank, alleging negligence in adequately securing and protecting data stored within the bank’s network.
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The lawsuit claims that the breach potentially exposed the data of at least 95,000 customers, with the potential for hundreds of thousands more individuals being affected, considering the size of M&T Bank’s customer base.
It’s worth noting that M&T Bank, with assets exceeding $207 billion, operates across 12 states in the Eastern United States.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
