The Bank Slate


1st Source in Ind. discloses exposure to MOVEit breach

Another bank has disclosed exposure to the MOVEit file transfer cyberattack.

The $8.3 billion-asset 1st Source in South Bend, Ind., disclosed in a regulatory filing that an unauthorized third-party gained access to sensitive client data, including personally identifiable information.

The company said it deployed cybersecurity defenses which included patching the software, hardening the host server containing the MOVEit software and launching an internal investigation in partnership with outside cybersecurity forensic experts.

The investigation is ongoing, and 1st Source has been in contact with law enforcement and regulatory authorities.

The Company notified and is working with its commercial clients. It is also in the process of identifying and contacting individual clients that were impacted. Impacted clients will receive complimentary credit monitoring and identity restoration services.

There has been no interruption to 1st Source’s systems, services or business operations. The company said it is unlikely that the incident will have a material adverse effect on its business, operations or financial results.

Other banks that have disclosed MOVEit breaches include Umpqua Bank, First Commonwealth, Hilltop Holdings and First Merchants.

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