Retirement & Life Insurance Provider Responds to Application Disruptions
Table of Contents
- By Steven
- Published: Feb 07, 2024
- Last Updated: Feb 09, 2024
Infosys McCamish Systems (IMS) is a subsidiary of Infosys, a global outsourcing organization. IMS is primarily concerned with delivering life insurance and retirement solutions for clients of Infosys. Among those who use IMS’ services are nationwide organizations, including Bank of America. In November 2023, IMS was made aware of a cyberattack on their systems; the attack disrupted some of IMS’ applications and compromised the information of 57,028 people.
How Did the Attack Occur?
The public can find information about the event via the Maine Attorney General’s website; details of the breach are within the public filing, and a sample consumer notice is available for review. According to these resources, the event was made possible by threat actors who accessed IMS systems and launched application-specific disruptions. Additionally, the assailants may have exfiltrated and removed data from IMS systems. As indicated within the consumer notice, where IMS states they cannot “determine with certainty” the information that was compromised.
What Information Was Viewed or Stolen?
Despite IMS’ uncertainty regarding the compromised data, their consumer notice lists possible exposures. The compromised data may differ between individuals and primarily includes the personal details of those with deferred compensation plans through IMS. These compromised data elements potentially include victims’ names, residential addresses, business email addresses, dates of birth, Social Security Numbers, and “other account information.” Consequently, victims of the breach should consider methods for safeguarding their data from future misuse by the assailants.
How Did Infosys McCamish Systems Admit to the Breach?
Based on the dates provided by the Maine Attorney General’s Office, the threat actors breached IMS’ systems around October 29th, 2023, and began their disruptions. The date differs from what is listed in the consumer notice, alleging that the disruptions began around November 3rd. The filing suggests officials discovered the attack around October 30th; whereas the notice does not list a discovery date. IMS officials have reportedly sent impact notices (to those they have information for) around February 1st, 2024.
What Will Become of the Stolen Information?
As mentioned in the intro of this piece, one of IMS’ clients is Bank of America; around November 24th, IMS notified Bank of America that the event had potentially impacted their systems. However, once the investigation concluded, experts found that the assailants had accessed none of the bank’s systems. Subsequently, the victims of this breach may come from other groups within IMS systems. They could be employees of other affiliates, IMS, or other individuals associated with the organization, like vendors or care providers. Additionally, because IMS cannot confidently say what the compromised information is, they may also lack the full scope of the breach. Consequently, the impact figure of this event may increase if they learn more information or regain (presumably) lost data.
What Should Affected Parties Do in the Aftermath of the Breach?
Any associate of IMS may face consequences from this breach. Individuals have an increased risk of identity fraud and extortion; however, entire organizations are also at risk of credential-stuffing and spear phishing attacks. Subsequently, all those with ties to IMS must consider their overall cybersecurity. Individuals should ensure they secure their accounts with complex passwords and multi-factor authentication and that their devices are current with the newest software patches. Meanwhile, business associates of IMS must review their systems for vulnerabilities; officials should update email addresses and access permissions wherever possible. IMS systems may have stopped the threat actors from getting into Bank of America—but they nevertheless allowed the assailants to victimize their associates. The only thing victims can do is safeguard their data from misuse.
