Bank of America’s $10 Million Dollar Breach Loss
Infosec Island reports Bank of America has been stung by an insider-coordinated breach that is responsible for as much as $10 million in funds being stolen from banking clients. A BofA employee leaked sensitive information about at least 300 clients to a criminal fraud ring, including names, bank account numbers, PINs, addresses, Social Security numbers, phone numbers, driver’s license numbers, birth dates, e-mail addresses, family names and account balances. Over at least a one year period, the crooks used that information to open new accounts, order checks, and conduct other banking transactions while hiding the activity from BofA customers by hijacking email accounts. The breach led to the arrest of about 95 suspects by the Secret Service in February, and BofA clients are only recently finding out about the heist.
