Nov 6, 2018

HSBC suffers data breach in US business

HSBC has suffered a serious data breach in its US retail business, with fraudsters gaining access to customers account details, statement histories and a raft of other personal information. HSBC said it immediately suspended online access to affected accounts, and was not aware of any customers that had suffered financial loss. The bank would not disclose how many customers had been affected but told the FT that it was less than 1 per cent of the US customer base. According to a report filed with regulators earlier this year, the bank had around 1.4m US customers, with the majority of its business in California and New York. The firm is also offering one year of credit monitoring and identify theft protection service to affected customers and urging all customers to use unique passwords for their bank accounts, and to particularly avoid using the same passwords for their social media accounts as for their bank.

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