Overview

A cyberattack in 2023 targeting Infosys McCamish Systems, a subsidiary of Infosys, led to a significant breach affecting Bank of America. Sensitive information including names, social security numbers, and account details of 57,028 individuals were exposed due to this third-party breach.

Impact and Response

Bank of America responded to the breach by initiating a comprehensive communication campaign, informing affected customers and providing guidance on how to secure their personal information. The incident highlights the interconnected risks in the financial ecosystem and the cascading effects that can arise from breaches within third-party service providers.

Lessons Learned

This breach emphasizes the need for stringent security measures, thorough risk assessment, and robust third-party management strategies to protect against cyber threats that can affect extensive networks of interconnected services.

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