Major Banking Vendor SitusAMC Hit by Cyberattack, Client Data Potentially Exposed

A major financial tech vendor has been hacked — here’s what was exposed, what wasn’t, and why it matters for every investor.

A significant cyberattack on a key technology provider has sent ripples through the financial sector, with data from major banks including JPMorgan Chase, Citi, and Morgan Stanley potentially compromised. The vendor, SitusAMC, a New York-based company that provides services for real estate lenders, confirmed it was the target of a cyberattack on November 12.

The breach reportedly exposed sensitive corporate information. In a statement, SitusAMC clarified that the compromised data included internal files related to its business dealings with clients, such as accounting documents and legal contracts. The company also acknowledged that “data relating to some of our clients’ customers may also have been impacted.”

While the full extent of the breach is still under investigation, both SitusAMC and federal authorities have moved to contain the fallout and reassure the public.

Michael Franco, the CEO of SitusAMC, stated that the company notified law enforcement and is focused on analyzing the potentially affected data. Crucially, he confirmed the incident has been contained, services are fully operational, and no encrypting malware, like ransomware, was involved in the attack.

The FBI has also become involved. “While we are working closely with affected organizations and our partners to understand the extent of potential impact, we have identified no operational impact to banking services,” said FBI Director Kash Patel in a statement. This confirms that despite the data exposure, core banking functions for customers at the affected institutions remain secure and uninterrupted.

At this time, JPMorgan Chase, Citi, and Morgan Stanley have not issued public comments on the matter.

🧠 Smart Money Takeaway:

The digital supply chain is the new frontier of financial risk. This incident highlights a critical vulnerability in the modern economy: even if a bank has fortified its own digital walls, its security is only as strong as that of its third-party vendors. For consumers and investors, it serves as a stark reminder that our data is often held in a complex web of interconnected systems. While operational services were not impacted this time, the event underscores the importance of understanding who has access to your data and how they protect it. True security requires a holistic view, extending beyond just the institutions we directly interact with.