A number of major U.S. financial institutions are rushing to evaluate potential damage after a cyber intrusion at a New York–based financial technology provider exposed sensitive information earlier this month.
The affected company, SitusAMC, works behind the scenes for more than a thousand commercial lenders, mortgage firms, pension funds, and government agencies. Over the weekend, the company confirmed that it had uncovered a security incident on November 12, revealing that intruders had stolen internal corporate records tied to its clients in the banking sector. The attackers also accessed certain accounting files and legal documents, though the company has not disclosed exactly what was taken.
SitusAMC stated that investigators are still analyzing the full scope of the breach. The firm reported that the intrusion has since been contained and that its systems are functioning normally. Notably, the company said no ransomware or encryption tools were used during the attack, suggesting that the hackers were focused solely on copying data rather than damaging systems or holding them hostage.
Reports from Bloomberg and CNN indicate that several major institutions — including JPMorgan Chase, Citigroup, and Morgan Stanley — received notifications from SitusAMC about the breach. While many customers may not recognize the company’s name, its technology plays a crucial role in helping banks and real estate firms manage compliance and regulatory processes. As a result, SitusAMC handles extremely large volumes of confidential information on behalf of its clients.
The company’s website notes that it processes billions of loan-related documents every year, highlighting the scale of the information that may have been accessible during the breach. However, it remains unknown how many individuals’ data may have been compromised.
Citi spokesperson Patricia Tuma declined to comment when asked about the incident or whether the bank had received any communication from the attackers. Representatives for JPMorgan Chase and Morgan Stanley also did not provide responses to inquiries. Attempts to contact SitusAMC’s chief executive, Michael Franco, went unanswered.
A spokesperson for the FBI said the bureau is aware of the situation and is actively working with organizations affected by the breach. According to FBI director Kash Patel, there has been no disruption to the nation’s banking infrastructure or core services, but authorities are committed to tracking down those responsible and ensuring the protection of critical financial systems.
