Major banks in the US are on high alert following a security breach at SitusAMC, a technology provider for US mortgage lenders, which resulted in the exposure of sensitive customer data and accounting records.
The breach was identified on November 12, and investigations into its scope are ongoing. In a letter to affected customers, SitusAMC confirmed: “We have confirmed that certain of our clients’ data was impacted. Corporate data related to your relationship with SitusAMC, such as accounting records and legal agreements, has been affected. Certain data regarding your customers may also be impacted. The scope, nature, and extent of such impact remain under investigation by the Company and its third-party advisors.”
The implications of this exposure could be extensive, as SitusAMC handles mortgage origination, servicing, and payment collection for hundreds of banks and lenders nationwide.
Sources indicate that major institutions, including JPMorgan Chase, Citigroup, and Morgan Stanley, have been notified about potential exposure of client data. In response to the breach, SitusAMC has implemented several security measures, including credential resets, disabling remote access tools, updating firewall rules, and enhancing certain security settings.