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Daily Dashboard | Pa. credit union suing fintech company over security issues Related reading: MedData data breach lawsuit settled for $7M




KrebsOnSecurity reports Bessemer System Federal Credit Union in Pennsylvania is suing financial technology company Fiserv for software security issues that are affecting bank customers. According to the bank’s claim at the end of April, Fiserv’s platform allowed online banking passwords to be reset by knowing a customer’s account number and the last four digits of their Social Security number. An August 2018 report revealed Fiserv was exposing online bank account numbers to customers before the company increased its security, meaning hackers only needed an “event number” to access accounts. In light of last year’s reports, the bank also alleges that Fiserv had no active safeguards for preventing automated attacks to obtain Social Security numbers.
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