Bank of America is massive with branches throughout most of the nation and other countries. Being
such a large operation, the bank could not reasonably maintain all aspects of their operations from a
central hub. The vast expanse of this would increase their FTEs significantly. This standard operating
procedure is used in most industries.
One area BoA uses this is with their service providers. Infosys McCamish Systems (IMS) was
compromised on or around November 3, 2023. The next day in the chronology was November 24 when
IMS notified BoA the data with their deferred compensation plans may have been compromised. This
included for the individuals their name, address, social security number, date of birth, and financial
information (account number, credit card number, etc.). For this compromise, approximately 57,028
clients were impacted. This ransomware attacked was claimed by LockBit.
This set of data is perfect to sell and be abused. With this the attackers or whomever purchases the data
has ample people to attack.
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