InfoSecBulletin Cybersecurity for mankind
LockBit ransomware group claim to have cyber attack the Citizens Bank of West Virginia. The group post on tweeter that “Just another greedy company that puts their own money above client’s privacy”. The hackers set a deadline for their demands till December 9, 2023, otherwise it will be published.
But there are no details of the lost information or the extent of the cyberattack and the potential compromise of sensitive data have been disclosed.
Media reached out to bank officials for verification of the claim of the Citizens Bank of West Virginia cyberattack. As of now, no response received.
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Citizens Bank’s website is currently accessible at the time of publishing the report. It can only make a definitive assessment once the bank releases an official statement regarding the cyberattack on Citizens Bank of West Virginia.
The financial sector is a prime target for cybercriminals. There has been a rise in reported data breaches.
In November 2023, the ransomware group targeted MicroTrain Technologies. They exposed sensitive documents including enrollment forms, business transactions, and comparison charts. The motive for these attacks is unclear and the claims have not been verified.
Financial institutions globally, including those in the U.S., Argentina, Brazil, and China, have had 566 breaches by December 2022, leading to the leakage of over 254 million records.
Ransomware attacks have increased significantly in the financial services sector. In 2023, the prevalence of these attacks reached 64%, up from 55% in 2022. This highlights the growing danger posed by cybercriminals, particularly to institutions like Citizens Bank that handle sensitive financial data. The upcoming deadline set by LockBit adds to the uncertainty in the bank’s cybersecurity situation.
Such security breaches have consequences beyond financial losses. They also affect the trust and privacy of many people.
