After an Arkansas based Evolve Bank and Trust was hacked, customers’ data was leaked in the dark web. The new ransomware gang Lockbit 3. It is still unknown 0 has taken the responsibility of this attack.
The bank has taken immediate action to address the breach:The bank has taken immediate action to address the breach:
- Engaging Law Enforcement: Currently, through the cooperation with the police, Evolve Bank is working on the search for the attackers and contains the necessary measures against this cyber attack.
- Customer Protection: For the afflicted customers, they will be given free credit monitoring and identity theft restoration services. The steps on how to enroll will be communicated to them in details, directly.
Last week, the U. S. Federal Reserve had directed Evolve Bank to enhance its risk management frameworks mainly on fintech affiliations and anti-money laundering rules. Still, such measures are suggestive of the constant threats and vulnerabilities that financial institutions have to combat when it comes to customers’ data.
Data Compromised: The leak contains some of the account numbers and the deposit balance of Evolve’s Fintech, partners.
Creative Insight: It should also be noted that this episode clearly demonstrates the need for the constant work on information security and the use of reliable protection measures in this sphere. Since the threats are ever growing, both the financial institutions as well as the customers ought to be vigilant when it comes to protecting information.
