Today, HSBC Bank disclosed that they had a data breach between the dates of October 4th and October 14th. The amount of people affected by this breach is undisclosed, but only Americans have had their data compromised. The kinds of information that was leaked may include: full name, mailing address, phone number, email address, date of birth, account numbers, account types, account balances, transaction history, payee account information, and statement history.
To rectify this, HSBC has said that they are going to enhance their authentication processes for their online banking and will offer affected customers a year long subscription to a “credit monitoring and suspicious activity alerting product”. These gifts and claims sort of fall flat, as they do not have good history with their security. According to Wired, they weren’t using “up to date encryption standards for online banking” and according to a Swansea University researcher, they were ranked in the bottom five of banks based on “the technical measures used by their respective websites” as of me writing this.
The way the breach occurred hasn’t been stated yet, but Ilia Kolochenko, the CEO and founder of High-Tech Bridge, has said that “as it would appear that only US customers have been affected, that could point to the breach occurring by way of an authorized third-party or careless employee”.
This breach definitely results from these accusations that Wired and the Swansea University researcher said, as potential hackers could have seen this informations and decided to attack them next, as they had reported lower levels of security as opposed to other targets.
– Jacob Peverly