Banks on High Alert After Major Data Breach

Big banks are in a rush to figure out what happened after a hack hit a company that handles real estate data for loans and mortgages. The company, SitusAMC, is based in New York and works with about 1, 500 clients. They found out on November 12 that someone had broken into their systems. By November 15, they were telling customers that some of their account records and legal papers might have been taken. SitusAMC says the problem is under control and their services are back to normal. They also said no ransomware was used in the hack. But the investigation is still going on, and it's not clear yet which banks or customers were affected. Some big names like JPMorgan Chase and Citi were told their data might be at risk, but they haven't said much about it. No one knows who did this yet. The FBI is looking into it, but they say banking services aren't affected for now. They also said they're working to find out who's responsible and keep things safe. Cyberattacks on banks are a big deal. Banks spend a lot of money on security, but hackers keep trying. Experts say the problem is that many companies work together, and if one has a weak spot, it can cause big problems. One expert said that when a trusted company has a breach, it can expose risks that connect the whole financial system.