Technical

Srinivasa Reddy Kandi: U.S. Banks Rush to Gauge Impact After Major Data Theft at Financial Tech Firm SitusAMC

November, 26, 2025-04:27

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U.S. Banks Rush to Gauge Impact After Major Data Theft at Financial Tech Firm SitusAMC:

Several major U.S. banks and mortgage lenders are urgently evaluating whether customer data was stolen in a recent cyberattack targeting New York–based financial technology provider SitusAMC. The company, which supports more than a thousand commercial and real estate finance institutions, confirmed over the weekend that it detected a breach on November 12.

According to SitusAMC, unidentified hackers accessed corporate data tied to its banking clients, including “accounting records and legal agreements.” While the full scope of the attack is still under investigation, the company reported that the incident has been contained and that its systems are now fully operational. Importantly, the attack did not involve encrypting malware — a sign that the hackers were focused on data theft rather than system disruption.

Bloomberg and CNN report that SitusAMC has notified major financial institutions such as JPMorgan Chase, Citigroup, and Morgan Stanley. The company also works with pension funds and state governments, managing vast amounts of highly sensitive, non-public financial information. According to its website, SitusAMC processes billions of loan-related documents every year, making the breach potentially far-reaching.

It remains unclear how much data was stolen or how many U.S. consumers may be affected. Representatives from Citi, JPMorgan Chase, Morgan Stanley, and SitusAMC did not immediately respond to requests for comment. Citi declined to say whether it had received any extortion attempts from the attackers.

The FBI confirmed awareness of the breach and is working with affected organizations to assess the potential impact. “We have identified no operational impact to banking services,” said FBI director Kash Patel. “We remain committed to identifying those responsible and safeguarding the security of our critical infrastructure.”


Author: Kandi Srinivasa Reddy, Srinivasa Reddy Kandi, #KandiSrinivasaReddy, #SrinivasaReddyKandi