Software vendor serving 700+ banks hacked, credit union says

Comparitech has reported that Marquis Software Solutions suffered a data breach in August that compromised Social Security numbers, tax ID numbers, account numbers, and dates of birth. This is according to a notice published yesterday from Community 1st Credit Union, one of the impacted banks.

Rebecca Moody, Head of Data Research at Comparitech, commented: 

“This attack highlights how companies not only face the ongoing threat of ransomware attacks within their own systems but also through the systems of third-party vendors they use to carry out various services. It’s also why these types of companies appeal to hackers, as they can often access hundreds of companies’ data through just one target.

While we don’t yet know how extensive this breach is, the notification issued by Community 1st Credit Union does appear to imply that a number of financial institutions have been impacted in the attack. Therefore, it’s likely we’ll see the current figure of 6,876 (the total affected via C1st) growing in the coming weeks.”

Ah, supply chain attacks. This is becoming the bread and butter of threat actors as they can hit a bunch of targets with ease. This means that organizations need to ensure that their partners are as secure as they are, otherwise bad things will happen to them.

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