1st Source, a long with a growing list of banks, businesses, and institutions, have reportedly been affected by the popular file transfer tool MOVEit courtesy of Progressive Software, carried out by the CL0P ransomware gang. The WinePress reported last month that these Russian hackers were hacking a variety of institutions and threatened to takedown a variety of Western banks. 1st Source appears to be one of those affected.
In a regulatory filing the bank confirmed that hackers accessed “sensitive client data of commercial and individual clients, including personally identifiable information,” Tech Crunch reported.
The company has notified and is working with its commercial clients so impacted and is in the process now of identifying and directly notifying individual clients who have been impacted.
The bank added
Market Watch reported, ‘1st Source patched the software according to Progress’s protocols and took other measures to contain the problem, it said. An investigation is ongoing, 1st Source said. As part of the continuing investigation, the company discovered that an unauthorized third-party gained access to sensitive client data of commercial and individual clients, including personally identifiable information.’
This comes as 1st Source Bank Corp. is one of the first banks to enlist and partner with the Federal Reserve to rollout FedNow, the instant transfer payment system designed to transfer funds at rapid speeds, and lay the ground for an eventual CBDC.
AUTHOR COMMENTARY
As a customer at 1st Source, I was completely unaware of this news up until Monday, when a letter by President and CEO Andrea G. Short came in the mail, dated July 14th, arrived and alerted me to the potential breach.
Now perhaps I’m looking into this too much, but am I not the only that one thinks the timing is a bit “coincidental,” considering that 1st Source signed up with FedNow which just launched last week, and then a letter comes in the mail afterwards warning about a potential breach?
The bank has contracted Kroll, a leading risk mitigation and response cybersecurity group, and provided an unique ID sequence to register with them for added protection.
Even if there was genuinely no “funny business” here and 1st Source drew the short end of the stick with this hack, it is my belief that these type of actions are only going to fuel and help facilitate more people to hop on board with the Fed’s oppressive system…
[7] Who goeth a warfare any time at his own charges? who planteth a vineyard, and eateth not of the fruit thereof? or who feedeth a flock, and eateth not of the milk of the flock? [8] Say I these things as a man? or saith not the law the same also? [9] For it is written in the law of Moses, Thou shalt not muzzle the mouth of the ox that treadeth out the corn. Doth God take care for oxen? [10] Or saith he it altogether for our sakes? For our sakes, no doubt, this is written: that he that ploweth should plow in hope; and that he that thresheth in hope should be partaker of his hope. (1 Corinthians 9:7-10).
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called it lol
Too perfect of a timing I’d say. The hacking incident does make their FedNow shenanigans look somewhat unreliable.