Mortgage Data Breach: Security Failures, Regulatory Gaps, and the New Normal
A recent cyberattack on SitusAMC, a critical technology vendor for real estate lenders, has raised alarm across Wall Street due to the potential exposure of sensitive mortgage and customer data. Major banks, including JPMorgan Chase, Citigroup, and Morgan Stanley, have been notified that their client data may have been compromised. The FBI is leading the investigation, focusing on the scope of the breach and the potential impact on consumer data. This incident underscores the systemic risk posed by financial institutions’ reliance on third-party vendors and highlights the need for enhanced cybersecurity measures within the industry.
John Q. Hosedrinker