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Console & Associates, P.C.: 1st Source Bank Confirms Data Breach Related to MOVEit Software
The MOVEit vulnerability of May 2023 has affected many major companies and compromised the data of tens of millions of consumers, and now 1st Source Bank has joined the ranks. According to a statement on July 10, 2023, 1st Source reported that it’s begun an investigation into a data breach stemming from a vulnerability in the MOVEit secure file transfer tool.
The 1st Source data breach investigation is still ongoing, and there aren’t many details to go on. However, more details about the scope of the breach and the types of data compromised should be forthcoming in the following months. It’s likely that 1st Source Bank will send out data breach letters to the victims after completing its investigation. If you receive such a letter, read it carefully. If you want to learn more or consider a 1st Source Bank data breach lawsuit, send us an email to info@consoleandassociates.com or call us at 866-778-5500 to schedule a free consultation.
To learn more about the 1st Source Bank data breach, read our blog post here: https://www.myinjuryattorney.com/1st-source-bank-data-breach-investigation/
The MOVEit Breach Impacting 1st Source Bank Clients
So far, 1st Source Bank has confirmed the breach and its relationship to the MOVEit file transfer tool to several media outlets. The scale of the breach or those affected remains unclear, but this information can be expected to release in the near future. For now, though, there are a few details to go on.
The data breach began with a day-zero vulnerability in the MOVEit tool developed by Progress Software. Progress Software reported the vulnerability on May 31st, 2023, and proceeded to notify individual corporate customers and end-users of the software from there.
It is not currently known exactly when Progress Software informed 1st Source Bank of the breach or the state of the ongoing 1st Source data breach investigation. However, the bank first officially acknowledged the breach and confirmed that it had been impacted roughly six weeks after the original leak occurred.
More Information About 1st Source Bank
1st Source Bank can trace its long history back to 1863, when it originated as a financial institution based in South Bend, Indiana. Since then, the company has grown to encompass more than 80 branches in three different states. The slate of services available includes standard banking and financial services, as well as financing for aircraft, trucks, and construction equipment. The bank counts more than 1,150 employees under its ranks and has annual revenue in excess of $350 million. Likewise, it operates as a subsidiary of 1st Source Corporation.
The MOVEit file transfer tool is used to transfer sensitive data, and many other leaks related to the MOVEit vulnerability have included financial data and Social Security numbers, If this proves to be the case, then your identity and your bank accounts could be at risk from this leak. If you’re a customer of 1st Source Bank who’s scared, then get in touch with one of our data breach lawyers for more information about the ongoing 1st Source data breach investigation.
We’ll help you stay on top of the situation and once your data breach notification letter arrives, we can discuss the possibility of helping you mount a data breach lawsuit against the bank to recoup your loss of time and money stemming from this security incident. Call us at 866-778-5500 or send us an email to info@consoleandassociates.com to schedule a free consultation and get started.
