Malicious actors stole a data set from a company that leading Wall Street banks use for mortgage and housing finance. This prompted an urgent search to determine exactly what was compromised and which financial institutions were affected, according to sources familiar with the investigation and a statement from the firm itself. New York-based SitusAMC, which serves 1,500 clients, reported late Saturday that accounts and legal agreements belonging to some of its customers were compromised in a breach. “The incident is contained, and our services are fully functional,” SitusAMC stated. “Encryption ransomware was not used.” The firm discovered unauthorized access to its systems on November 12 and notified clients within days about the potential compromise of their data. According to sources, the company sent out an extensive notification email to clients, including JPMorgan Chase and Citi, stating that their data might have been affected by the hack. However, it is currently unclear whose specific client information fell into the hands of the hackers. The investigation is ongoing. Representatives for JPMorgan Chase and Citi declined to comment on the SitusAMC breach. The identities of those responsible for the attack remain unknown. The FBI is investigating the case. “While we are working closely with the affected organizations and our partners to assess the extent of potential damage, we have not seen any disruption to banking services,” FBI Director Kash Patel noted in a statement. “We remain committed to identifying those responsible and securing our critical infrastructure.” The New York Times was the first to report on the hacking incident. Major banks spend hundreds of millions of dollars annually on cybersecurity, and the financial sector has earned a reputation as one of the most secure industries. However, cyberattacks on this sector continue unabated, and the interdependence between various firms can create vulnerabilities, experts note. “The breach at SitusAMC is a stark reminder that the weakest links can be hidden deep within the technology partnerships and vendor dependencies that power critical operations,” said Munish Walder-Purry, head of critical digital infrastructure at cybersecurity firm TPO Group. “When a single trusted vendor fails, it can expose a complex web of invisible risks binding the sector together; resilience is not just a policy, but a collective responsibility,” Walder-Purry added.
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