News and Updates on Information Technology

United States – American Bank Systems

Exploit: Ransomware
American Bank Systems: Software Services Provider 

Risk to Small Business: 1.864 = Severe

Avaddon ransomware made an unwelcome deposit at American Bank Systems, unleashing a ransomware attack that led to the capture and partial publishing of 53 GB of all sorts of highly confidential data. The banking software services company had data snatched from banks around the world including banking names and mortgage companies, such First Federal Community Bank, Rio Bank, Citizens Bank of Swainsboro, First Bank & Trust, and many more. The leaked data in the dump includes files such as loan documents, business contracts, private emails, invoices, credentials for network shares, and other confidential information.

Individual Risk: 1.516 = Severe

Many of the stolen banking records also contain information about the clients of affected banks including, personally identifying information, loan amounts, and Tax ID or Social Security numbers. Some data on employees of banks was also exposed. Clients of impacted backs should be alert to identity theft and fraud possibilities.

Customers Impacted: Unknown

How it Could Affect Your Customers’ Business: Third-party service providers may not have the same commitment to data security as you do. It pays to do your homework to avoid these problems whenever possible.