Security Breach Disrupts Fintech Firm Finastra

guest · Mar 20, 2020

Security Breach Disrupts Fintech Firm Finastra
March 20, 2020
https://krebsonsecurity.com/2020/03/security-breach-disrupts-fintech-firm-finastra/

Finastra, a company that provides a range of technology solutions to banks worldwide, said it was shutting down key systems in response to a security breach discovered Friday morning.

Earlier today, sources at two different U.S. financial institutions forwarded a notice they received from Finastra saying the outage was expected to disrupt certain services, particularly for clients in North America.

“We wish to inform our valued customers that we are investigating a potential security breach. At 3:00 a.m. EST on March 20, 2020, we were alerted to anomalous activity on our network which risked the integrity of our data-centers,” reads the notice.
The statement continues:

“Our approach has been to temporarily disconnect from the internet the affected servers, both in the USA and elsewhere, while we work closely with our cybersecurity experts to inspect and ensure the integrity of each server in turn. [...]”
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Finastra did not respond to requests for comment. But the company appears to have acknowledged an incident via a notice on its Web site that offers somewhat less information and refers to the incident merely as the detection of anomalous activity.

“The Finastra risk and security services team has detected anomalous activity on our systems,” wrote Tom Kilroy, Finastra’s chief operating officer. “In order to safeguard our customers and employees, we have made the decision to take a number of our servers offline while we investigate. This, of course, has an impact on some of our customers and we are in touch directly with those who may be affected.”
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guest · Mar 20, 2020

mood said: ↑

Security Breach Disrupts Fintech Firm Finastra March 20, 2020
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Finastra Hit By Ransomware:

Update, 5:21 p.m. ET: Finastra has acknowledged that it is battling ransomware.

“At this time, we strongly believe that the incident was the result of a ransomware attack and do not have any evidence that customer or employee data was accessed or exfiltrated, nor do we believe our clients’ networks were impacted,” the company said in a revised statement.
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guest · Mar 23, 2020

Finastra brings servers back online after ransomware attack
March 23, 2020
https://www.fintechfutures.com/2020/03/finastra-brings-servers-back-online-after-ransomware-attack/

The software provider, which boasts a revenue of $1.9 billion annually and works with the likes of BNP Paribas and Australia’s Commonwealth Bank, detected the breach on Friday.

Yesterday evening Finastra announced that it had been able to bring back online the servers it had to take offline on Friday morning.

“Following Friday’s incident, Finastra’s teams have been working tirelessly to bring our systems back online,” the company said.
The London-based firm, which now has offices in 42 countries, has not revealed the exact cause of the ransomware attack, simply referring to a “bad-actor” without specifying any further details.
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The company is understood to have closed various offices in Canada and London following the attack, and has employed an independent forensic firm to investigate the nature of the breach.

“Because our solutions each have their own nuanced processes to move from being available to operationally live, each of our products will be back once readiness steps are completed,” the firm said, suggesting various Finastra services will have to be switched back on one at a time which could variably impact its banking clients.
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Finastra: Statement from Tom Kilroy, Chief Operating Officer

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