Texas-chartered Frost Bank has detected an instance of unauthorized access that might have exposed the images of some electronically stored checks.
Frost, which is one of the largest banks in Texas at 139 branches across the state, detected the security incident in March 2018.
According to a statement published on its website, the event involved someone gaining unauthorized access to a third-party lockbox software program. This program facilitates the operation of a lockbox by which customers send check payments to a central post office box. At that location, the bank receives each customer’s payment and credits it to their account.
In gaining access to the software program, the unknown parties acquired the privileges necessary to copy and view electronically stored check images. Attackers could in turn use those images to forge checks.
The Bank discovered this intrusion using “enhanced detection measures” and subsequently blocked the unauthorized access from continuing. Looking into the matter, it’s determined that the incident likely affected 470 corporate customers who use the electronic lockbox.
Among those affected by the incident is the City of Corpus Christi, which maintains three commercial banks with Frost Bank. Those include accounts that support the municipality’s emergency medical services and utility payment processing system.
Constance P. Sanchez, Finance Director for city, is warning users to pay attention to their bank accounts while the Corpus Christi government awaits to learn more from Frost. As quoted by KRISTV.com:
We know very little at this time about the investigation being conducted by the FBI and Secret Service regarding the Frost Bank security breach. We want our customers to monitor their bank accounts as a precaution. At this time, we do not know the extent of the breach or if any of our customers are (Read more...)
*** This is a Security Bloggers Network syndicated blog from The State of Security authored by David Bisson. Read the original post at: https://www.tripwire.com/state-of-security/latest-security-news/frost-bank-detects-unauthorized-access-exposed-check-images/