Bank of America’s Sensitive Customer Data Compromised in Third-Party Hacker – Are Your Accounts Safe? – Bank of America (NYSE: BAC)

Bank of America BAC A data breach involving a third-party software provider has been confirmed, resulting in the exposure of sensitive customer data.

what happened: An unidentified third-party software provider discovered unauthorized access to its systems in October, according to documents filed earlier this month. The breach did not directly impact Bank of America’s systems, but the data of at least 414 customers is at risk.

The breach was related to mortgage loans, and the data compromised included customers’ names, social security numbers, addresses, phone numbers, passport numbers and loan numbers. The bank is currently notifying affected customers about the breach.

Also read: Massive data breach exposes millions of credit and debit cards – are your accounts safe?

In response to violations, Bank of America Steps are being taken to mitigate the financial impact and scan for unauthorized transactions. The bank is also offering affected customers one year of free enrollment in its identity protection service.

Why is it important: This incident highlights the growing risk of third-party data breaches in the banking industry.

SecurityScoreCard’s latest report shows that 97% of the top 100 U.S. banks experienced a third-party data breach last year.

This trend highlights the increasing reliance on external providers for core banking functions and associated risks.

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