Pacific Premier Bancorp - On July 20, Vendor Said Personally Identifiable Information Related To Bank Clients Of Unit Compromised In Vendor Incident; Resulted From Zero-day Vulnerability In Popular File Sharing Software Vendor Used Called Moveit Transfer
Portfolio Pulse from Charles Gross
Pacific Premier Bancorp's vendor reported a security breach on July 20, compromising personally identifiable information of the bank's clients. The incident resulted from a zero-day vulnerability in the file sharing software Moveit Transfer used by the vendor.
July 25, 2023 | 10:10 am
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Pacific Premier Bancorp (PPBI) experienced a security breach via its vendor, compromising client data. The breach was due to a vulnerability in the vendor's file sharing software, Moveit Transfer.
The security breach directly impacts Pacific Premier Bancorp as it involves their client data. This could potentially harm the bank's reputation and customer trust, leading to a negative impact on the stock price in the short term.
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