HQ News & Alerts

Another Data Breach at a Bank's Third-party Provider

Written by Stuart Brock | May 21, 2024 8:47:27 PM Z

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.

 Click here to read the American Banker article.