First Horizon bank online accounts hacked to steal customers’ funds

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Aug 17, 2014
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Bank holding company First Horizon Corporation disclosed the some of its customers had their online banking accounts breached by unknown attackers earlier this month.

First Horizon is a regional financial services company with $84 billion in assets that offers banking, capital market, and wealth management services.

First Horizon Bank, the company's banking subsidiary, operates a network of hundreds of bank locations in 12 states across the Southeast.
First Horizon discovered the attack in mid-April 2021 and said that it only impacted a limited number of customers.

As discovered during the investigation, the unknown threat actors could breach the customers' online bank accounts using previously stolen credentials and by exploiting a vulnerability in third-party software.

"Using the credentials and exploiting a vulnerability in third-party security software, the unauthorized party gained unauthorized access to under 200 on-line customer bank accounts," First Horizon added in an 8-K form filed with the U.S. Securities and Exchange Commission (SEC) on Wednesday.

The attackers were also able to gain access to customer information stored in the breached accounts and drain funds from some of them before their intrusion was discovered.

The financial services firm revealed that they "fraudulently obtained an aggregate of less than $1 million from some of those accounts."
 
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