Financial services firm First Horizon suffers data breach with customer funds stolen

guest · Apr 30, 2021

Financial services firm First Horizon suffers data breach with customer funds stolen
April 29, 2021
https://siliconangle.com/2021/04/28...on-suffers-data-breach-customer-funds-stolen/

Financial services company First Horizon Corp. has suffered a data breach that saw customer accounts accessed and funds stolen.

Disclosed in a filing today with the U.S. Securities and Exchange Commission, the data breach is described as involving an authorized third party obtaining login credentials from an unknown source and then attempting to access customer accounts. The third party then gained access to fewer than 200 online customer bank accounts, had access to personal information in those accounts and then fraudulently obtained an amount of less than $1 million from those accounts.
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While not disclosing the exact method of the attack, First Horizon then said it remediated a software vulnerability, suggesting the attack involved exploiting unpatched software used by the bank.

Haynes noted that attackers also exploit vulnerable technology, often in conjunction with illicit credentials they may have obtained. In the case of First Horizon’s data breach, he added, it may have involved third-party software ranging from a virtual private network or software libraries providing onetime passcodes.
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