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Know Your Breach: First Horizon Bank
Apr 30, 2021 10:52:57 AM
The target: First Horizon Bank, a U.S based financial services company.
The take: An amount up to $1 million USD, and 200 online customer accounts with personally identifiable information.
The attack vector: The attacker used illicitly gained login credentials and exploited a vulnerability in third party security software, letting them access customer accounts and siphon funds. In additional to the funds stolen, the detailed personally identifiable data exposed is highly valuable for further phishing and fraud attacks.
This breach emphasizes the importance of controls around the authentication process – requirements for strong, unique credentials, and implementation of multiple factors of authentication wherever possible to mitigate stolen or brute-forced passwords. Third party software components in an authentication process must also be implemented properly, with security patches tested and applied in a timely manner to maintain a secure posture.
