Business newsTens of Thousands Affected in Latest Cyberattack on U.S. Bank

Tens of Thousands Affected in Latest Cyberattack on U.S. Bank

M&T Bank, based in New York, has announced that a worldwide cybersecurity breach has led to the exposure of customer information. The bank informed its customers through a letter, stating that the security flaw was linked to the MOVEit file transfer tool they use for securely exchanging confidential data.

The bank believes that hackers gained access to customer data by exploiting vulnerabilities in one of their third-party service providers. After an internal investigation, the bank confirmed that some customer information, such as names, addresses, and account numbers for checking, savings, or money market accounts, had been compromised. However, they emphasized that no other sensitive details like PINs, passwords, social security numbers, or card numbers were accessed during the incident.

M&T Bank assures that their own internal systems were not directly affected and remain secure. Meanwhile, a customer who was impacted by the breach has initiated a class-action lawsuit against the bank for “not taking adequate measures to protect and safeguard” customer data within its network. The lawsuit claims that data for at least 95,000 customers was exposed, with the potential for hundreds of thousands more to be affected.

M&T Bank has more than $207 billion in assets and operates branches in 12 states across the Eastern U.S.


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