Pacific City Bank, one of the largest Korean-American community banking service providers in America has confirmed that it was the victim of a ransomware attack.
The bank has started to inform its customers of a security breach identified on August 30. 2021, which they claimed to have addressed promptly.
“PCB responded promptly to disable the activity, investigate its source and monitor PCB’s network. PCB subsequently became aware of claims that it had been the target of a ransomware attack. On September 7, 2021, PCB determined that an external actor had illegally accessed and/or acquired certain data on its network,” the bank said in a statement.
The bank stated that it has been working alongside third-party forensic investigators to determine what information may have been accessed, who may have been impacted, in addition to understanding the nature and scope of the incident.
An investigation revealed that the breach impacted certain files containg certain customer information. These files contained documents related to loan applications, such as Form W-2 information of their employees, tax returns, and payroll records.
The bank has informed affected customers that personal information including customer’s name, address, Social Security number, and wage and/or tax information - may have also been exposed.
It remains unknown as to how many of the bank’s customers have been affected by the breach.
“As part of our ongoing commitment to ensuring the security of information in our care, we have conducted a thorough investigation into this incident and are continuing to monitor our systems’ security. In addition, we are working to review our existing policies and procedures, including our information security plan, to evaluate additional measures and safeguards to protect against this type of incident in the future,” the bank added.