Big Banks Feel the Heat After Tech Partner's Cyber Attack

Some of the biggest banks in the U. S. are in the spotlight after a cyber attack hit a company they work with. SitusAMC, which helps manage real estate investments, found out about the breach on November 12. They think some client files might have been exposed. These files include financial records and legal documents. The attack wasn't caused by encrypted malware, and SitusAMC says their systems are back to normal. But the damage might have spread to big names like JPMorgan Chase, Citi, and Morgan Stanley. None of these banks have said much about it yet. SitusAMC is still checking what data was affected and has told the police. The FBI is involved but says everyday banking isn't impacted. This whole thing shows how banks rely on outside tech companies. A problem at one can ripple out to the banks. Investors should think about how much banks depend on third-party tech. A weak link in one place can affect big players. For now, the banks are still running smoothly, but the full picture depends on SitusAMC's investigation.