US Bank regulator tells Congress is suffered ‘major’ hack

The Office of the Comptroller of the Currency recently made headlines after revealing a major information security incident that occurred in February. The regulatory agency, which oversees national banks, disclosed that it had notified Congress about a hack that compromised sensitive information.

According to reports, the breach was initially detected in February when unusual activities were observed in the office automation environment. Specifically, there were suspicious interactions between a system administrative account and OCC user mailboxes. This raised concerns about a potential cybersecurity threat.

It was later discovered that hackers had gained unauthorized access to more than 150,000 emails after infiltrating the system in June 2023. The compromised emails contained highly sensitive information related to the financial condition of federally regulated financial institutions, which are crucial for the OCC’s examinations and supervisory processes.

Acting Comptroller of the Currency Rodney Hood emphasized the importance of maintaining the confidentiality and integrity of the OCC’s information security systems. In response to the incident, the agency promptly shut down compromised administrative accounts and engaged third-party cybersecurity experts to review and strengthen its IT security protocols.

Hood reassured the public that steps are being taken to address the vulnerabilities that led to the unauthorized access. He emphasized the need for full accountability and remediation of any organizational or structural deficiencies that contributed to the breach.

Throughout the investigation, the OCC has been working closely with the Treasury Department to share information and findings. The agency is committed to enhancing its cybersecurity measures to prevent future attacks and safeguard sensitive data.

As the OCC continues to address the aftermath of the security incident, it serves as a reminder of the evolving cybersecurity threats faced by organizations in today’s digital landscape. Stay informed and protected by signing up for cybersecurity alerts and expert tech tips to mitigate risks and enhance your online security posture.