American Banker is reporting another breach of a third-party service provider involving a bank’s customer and employee data.
Key Insights:
Cyberattack against a third-party database resulted in theft of Santander customer and employee data in Spain, Chile and Uruguay.
Attacks on bank third-party service providers have garnered increasing scrutiny by regulators following a series of such breaches.
Federal Reserve vice chair for supervision Michael Barr stated in January that he expects banks to remediate gaps in how banks manage these types of third-party risks.
