Sound Financial Bancorp Says Unit Was Notified A Vendor Used MoveIt To Transfer Info Related To Bank's About 16,000 Mobile And Online Banking Customers; Investigation Regarding Potential Breach Of Bank's Customer Data Is Still Ongoing
Portfolio Pulse from Happy Mohamed
Sound Financial Bancorp's unit was notified that a vendor used MoveIt to transfer information related to about 16,000 of the bank's mobile and online banking customers. An investigation regarding a potential breach of the bank's customer data is still ongoing.
July 14, 2023 | 4:26 pm
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Sound Financial Bancorp is under investigation for a potential data breach affecting about 16,000 of its mobile and online banking customers.
Data breaches can have significant negative impacts on a company's reputation and customer trust, which can in turn affect the company's stock price. Given that the investigation is still ongoing, there is uncertainty surrounding the situation, which can also negatively impact the stock price in the short term.
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