The banking sector is facing a growing wave of cybercrime as three leading US banks have reported significant data breaches, impacting hundreds of their customers. The incidents, which have prompted investigations and disclosures to authorities, reveal the vulnerability of even the most established financial institutions to cyberattacks.
Citizens Bank
disclosed a data breach to the Office of the Vermont Attorney General, impacting around 100 customers in the first half of 2024. The compromised data included sensitive information such as names, account numbers, social security numbers, and other personal details.
Truist Bank
reported a security incident to the Office of the Attorney General of California, involving a third-party debt collection agency. While the bank confirmed the data breach, the specific nature of the compromised data varied by customer, potentially including names, addresses, account numbers, dates of birth, and social security numbers.
First National Bank
revealed that 107 customers had their account information exposed due to physical card skimming devices installed on two of its ATMs. The stolen data included names, card numbers, card expiration dates, PINs, and card verification value (CVV) numbers. The bank confirmed that some customers have already experienced fraudulent withdrawals, which are being reimbursed.These data breaches highlight the pressing need for robust cybersecurity measures within the banking industry. The compromised data can be used for identity theft, fraudulent transactions, and other cybercrimes, putting the financial security of affected customers at risk. The incidents also raise concerns about the trust and security of the banking system as a whole.
As the digital landscape evolves and cyber threats become more sophisticated, banks must prioritize investing in advanced cybersecurity measures and protocols to protect customer data and maintain public trust.
