Understanding the Financial Institution Service Corp. Data Breach: What to Expect in Your Data Breach Letter

On September 22, 2023, Financial Institution Service Corp. (FISC) sent shockwaves through the financial sector by filing a notice of a data breach with the Attorney General of Maine. This breach, which occurred due to a vulnerability in the file-transfer application MOVEit, exposed the personal information of over 750,000 individuals. In this article, we will delve into the details of this alarming incident, explore its causes, and discuss what affected individuals can do to safeguard their information.

Were You Impacted By The Financial Institution Service Corp. Data Breach?
Financial Institution Service Corp.
Did you receive notice from Financial Institution Service Corp. that your information was breached?
Do you still have a copy of the notice letter?

The data breach at Financial Institution Service Corp. was a significant breach of personal information. It came to light when FISC discovered that a vulnerability in the MOVEit application allowed hackers to gain unauthorized access to sensitive data. The compromised data included names, addresses, dates of birth, Social Security numbers, driver’s license numbers, other government-issued identification numbers, financial account information, telephone numbers, and credit/debit card numbers.

Upon discovering the breach, FISC immediately launched an investigation to determine the extent of the damage and identify the affected individuals. The breach affected not only FISC but also numerous financial institutions that rely on FISC’s services. A comprehensive list of these institutions is provided in the article.

The breach’s origins can be traced back to May 31, 2023, when Progress Software publicly disclosed a vulnerability in the MOVEit application, a product utilized by FISC in its day-to-day operations. FISC acted promptly by installing all available patches and taking measures to mitigate the threat of unauthorized access.

However, the investigation revealed that hackers had already exploited the vulnerability between May 30 and May 31, 2023. During this period, they accessed and removed certain data from FISC’s MOVEit server, which included confidential consumer information. The compromised information was a collection of sensitive personal data that varied from person to person.

Upon confirming the breach, FISC conducted a thorough review of the compromised files to determine precisely what information had been exposed and which consumers were affected. Subsequently, on September 22, 2023, FISC began the process of notifying individuals whose data had been compromised through data breach notification letters.

These letters are essential for affected individuals as they provide a detailed list of what information belonging to them was exposed in the breach. Knowing exactly what data has been compromised is crucial for taking necessary actions to protect oneself from potential fraud or identity theft.

Financial Institution Service Corp., founded in 1969 as First National Computer Center, is an information services company based in West Monroe, Louisiana. It operates as a cooperative, servicing around 60 banks across Alabama, Louisiana, Mississippi, Oklahoma, and Texas. With more than 82 employees and approximately $20 million in annual revenue, FISC plays a vital role in the financial sector.

The Financial Institution Service Corp. data breach is a stark reminder of the ongoing threat posed by cybercriminals to personal information. If you have received a data breach notification from FISC, it is crucial to take the necessary steps to protect yourself from potential fraud or identity theft. Seeking legal guidance from a data breach lawyer can help you understand your options and rights following this breach.

As more information emerges about the breach, affected individuals should stay vigilant and follow any recommended actions provided by FISC to secure their personal information. Cybersecurity is an ever-evolving challenge, and incidents like this underscore the importance of robust data protection measures and continuous vigilance in today’s digital age.